Last checked at 22 Jun 2018 14:44
Fair Oaks Income Limited
22 June 2018
FAIR OAKS INCOME LIMITED (the "Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)
RESULTS OF AGM
The Board of the Company is pleased to announce that, at the fourth Annual General Meeting of the Company held earlier today, the following proposed resolutions were approved by shareholders on a poll.
The number of Shares voted in person or by proxy on the resolutions, each of which was proposed as an ordinary resolution, was as follows.
1. THAT the Financial Statements of the Company for the year ended 31 December 2017 with the Report of the Directors and Auditors thereon be received and adopted.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against . No votes were withheld.
2. THAT Claudio Albanese be re-elected as a Director of the Company.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against. No votes were withheld.
3. THAT Jonathan Bridel be re-elected as a Director of the Company.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against. No votes were withheld.
4. THAT Nigel Ward be re-elected as a Director of the Company.
354,911,185 votes were in favour of the resolution (99 % of votes cast) and 3,745,201 votes were against (1% of votes cast). No votes were withheld.
5. THAT KPMG Channel Islands Limited be re-appointed as Auditors of the Company for the year ended 31 December 2018.
315,241,359 votes were in favour of the resolution (88 % of votes cast) and no votes were against. 43,415,027 votes were withheld (12% of votes cast).
6. THAT the Directors be authorised to fix the remuneration of the Auditors for their next period of office.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against. No votes were withheld.
7. THAT the Company's dividend policy be approved.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against. No votes were withheld.
The following was proposed as a special resolution:
8. THAT that the Company be and is hereby generally and unconditionally authorised in accordance with Section 315 of The Companies (Guernsey) Law, 2008 (as amended) (the "Law") (subject to all applicable legislation and regulations) to make market acquisitions (as defined in the Law) of its 2014 Shares and 2017 Shares in issue.
358,656,386 votes were in favour of the resolution (100% of votes cast) and no votes were against. No votes were withheld.
9. THAT the Directors of the Company be and are hereby empowered to issue up to a maximum number of 45 million 2017 Shares.
358,597,386 votes were in favour of the resolution (99.98% of votes cast) and 59,000 votes were against (0.02% of votes cast). No votes were withheld.
(Conditional on Resolution 9 being passed)
10. THAT the Directors of the Company be and are hereby empowered to issue up to a maximum number of a further 45 million 2017 Shares.
311,384,051 votes were in favour of the resolution (86.82% of votes cast) and 47,272,335 votes were against (13.18% of votes cast). No votes were withheld.
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Hayley Stewart
DDI: +44 (0) 20 3034 0406
Email: hstewart@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either directly and/or indirectly through the Master Fund and/or Master Fund II) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by remaining invested in the Master Fund and making new investments in Master Fund II.