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22 Jun 2021 14:00
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
Legal Entity Identifier: 21380056PDNOTWERG107
Update Statement On Voting Results - Annual General Meeting of 7 December 2020
At the annual general meeting of the Company held on 7 December 2020 (the "AGM") 20 per cent. or more of votes cast were cast against the resolutions listed below:
Resolution | For | Against | Vote Withheld | |
4 | To re-elect Mr David Gelber as a director of the Company | 253,757,832 | 82,965,053 | 20,479,188 |
5 | To re-elect Mr John Le Prevost as a director of the Company | 227,917,661 | 108,805,224 | 20,479,188 |
The Company has consulted with the shareholders who voted against the above resolutions in order to understand and address their concerns. The responses received indicate that voting against the resolutions reflected:
· a lack of information regarding the Board's decision making process, specifically in regard to dividend payments and returns of capital;
· a general lack of engagement with the Company's shareholders;
· the Board's management of its relationship with Nimrod Capital LLP; and
· concerns over the Company's governance, specifically in relation to the independence of the directors and members of the Audit Committee.
During the period since the AGM, the Board has been focused on improving communications with shareholders and improving governance within the Company. Actions taken to date include:
· the termination of the appointment of Nimrod Capital LLP as the Company's sole corporate and shareholder advisor with effect from 31 January 2021 and settlement of outstanding matters between them and the Company;
· the appointment of Liberum as the Company's sole corporate broker with effect from 15 March 2021;
· the introduction of more frequent investor webinars; and
· a focus on increasing the level of disclosure made by the Company.
The Board would like to thank all shareholders that took part in the engagement process and values the feedback and insight it has gained. A final update on this matter will be included in the Company's annual financial report for year end 31 March 2021.
For further information, please contact:
JTC Fund Solutions (Guernsey) Limited
+44 (0) 1481 702 400
Liberum Capital Limited
Chris Clarke / Darren Vickers / Owen Matthews
+44 (0) 20 3100 2000
About the Company
The Company is a Guernsey-domiciled company, with shares admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market (LSE: AA4).
The Company's investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling aircraft.
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