21 Apr 2020 15:00
Aberdeen Emerging Markets Investment Company Limited (the "Company")
LEI: 213800RIA1NX8DP4P938
Result of Annual General Meeting ("AGM")
The Board of the Company announces that at the Company's AGM held earlier today all the resolutions were passed.
A summary of the resolutions and the proxy voting figures received in advance of the meeting are shown below:
AGM | For / Discretionary | Against | Withheld | ||||
Ordinary resolutions | Votes | % | Votes | % | |||
1 | To receive and adopt the financial statements for the year ended 31 October 2019, with the reports of the Directors and auditor thereon. | 41,212,904 | 99.99 | 65 | 0.01 | 0 | |
2 | To approve the Directors' Remuneration Report (excluding the Directors' Remuneration Policy) for the year ended 31 October 2019. | 41,207,912 | 99.99 | 4,814 | 0.01 | 243 | |
3 | To approve the Directors' Remuneration Policy for the three years ended 31 October 2022. | 41,205,719 | 99.99 | 4,856 | 0.01 | 2,394 | |
4 | To approve a dividend policy to declare four interim dividends each year and to authorise the Directors to declare such dividends. | 41,212,904 | 99.99 | 65 | 0.01 | 0 | |
5 | To elect Ms de Rochechouart as a Director. | 41,205,263 | 99.99 | 4,439 | 0.01 | 3,267 | |
6 | To re-elect Mrs Green as a Director. | 25,618,180 | 62.16 | 15,593,091 | 37.84 | 1,697 | |
7 | To re-elect Mr Hawkins as a Director. | 25,810,017 | 62.63 | 15,401,254 | 37.37 | 1,697 | |
8
| To re-appoint KPMG Channel Islands Limited as auditor to the Company. | 39,410,699 | 95.63 | 1,800,700 | 4.37 | 1,570 | |
9
| To authorise the Directors to determine the remuneration of the auditor for the forthcoming financial year. | 41,212,904 | 99.99 | 65 | 0.01 | 0 | |
10 | To give the Company the authority to purchase its own shares. | 41,212,904 | 99.99 | 65 | 0.01 | 0 | |
11 | To give the Company the authority to allot new shares. | 41,212,904 | 99.99 | 65 | 0.01 | 0 | |
Special Resolution | |||||||
12 | To waive shareholders' rights of pre-emption or similar rights which they may have under the Company's Articles of Incorporation or otherwise. | 41,200,850 | 99.99 | 3,532 | 0.01 | 8,587 | |
The Board has noted that shareholder proxies representing 37.84% and 37.37% of the issued capital voted against the re-election of Mrs Green and Mr Hawkins respectively. The vast majority of these shares were voted by one institution. The Board notes the reasons why the shares were voted in this way, but supports the democratic process which saw substantial support from shareholders with proxies representing 62.16% and 62.63% voting in favour of each of Mrs Green and Mr Hawkins' re-elections to the Board respectively.
At the time of the above meeting the Company's share capital consisted of 45,965,159 ordinary shares with voting rights and a further 8,653,348 ordinary shares held in treasury.
21 April 2020
Enquiries:
Aberdeen Standard Fund Managers Limited (Alternative Investment Fund Manager to Aberdeen Emerging Markets Investment Company Limited)
William Hemmings
Tel: +44 (0)207 463 6223
Luke Mason
Tel +44 (0)207 463 5971
Vistra Fund Services (Guernsey) Limited (Company Secretary)
Tel: +44 (0)1481 726034
Ordinary Shares - Listing Category: Premium - Equity Closed-ended Investment Funds
END