27 May 2015 14:53
To: RNS
Date: 27 May 2015
Company: F&C Private Equity Trust plc
Subject: Results of Annual General Meeting
At the Annual General Meeting of the Company held on 27 May 2015, all Ordinary Business Resolutions set out in the Notice of Annual General Meeting dated 15 April 2015 were duly passed.
In addition, the following Special Business Resolutions were also passed;
Special Resolution 11 was passed, being that the Company be and it is hereby authorised in accordance with Section 701 of the Companies Act 2006 (the "Act") to make market purchases (within the meaning of Section 693(4) of the Act) of Ordinary Shares in the capital of the Company provided that:
(i) the maximum number of Ordinary Shares authorised to be purchased shall be 14.99 per cent of the number of the Ordinary Shares in issue at the date on which this resolution is passed;
(ii) the minimum price which may be paid for an Ordinary Share shall be 1p;
(iii) the maximum price (exclusive of expenses) which may be paid for a Share shall not be more than the higher of:
(a) 5 per cent above the average of the market value of for the five business days immediately preceding the date of purchase; and
(b) that stipulated by Article 5(1) of the Buyback and Stabilisation Regulation (EC 2273/2003); and
(iv) unless previously varied, revoked or renewed, the authority hereby conferred shall expire at the conclusion of the Annual General Meeting of the Company in 2016, save that the Company may, prior to such expiry, enter into a contract to purchase Ordinary Shares under such authority which will or might be executed wholly or partly after the expiration of such authority and may make a purchase of Ordinary Shares pursuant to any such contract.
Ordinary Resolution 12 was passed, being that the amendments proposed to the investment restrictions in Company's investment policy, as struck out and underlined (and highlighted in bold) below, be and are hereby approved with immediate effect:
At the time of investment:
· No more than 3350 per cent of total assets may be invested in direct private equity co-investments.
· No more than 5.0 per cent of total assets may be invested in any single direct private equity co-investment.
The full text of all the resolutions can be found in the Notice of Annual General Meeting set out in the Annual Report and Accounts for the year ended 31 December 2014, which was submitted to the National Storage Mechanism on 27 April 2015 and is available for inspection at www.morningstar.co.uk/uk/NSM.
A copy of the proxy voting for each resolution is available of the Company's website, www.fcpet.co.uk.
All Enquiries:
G R Hay Smith
F&C Asset Management plc
Tel: 0207 628 8000