Last checked at 
23 May 2017 12:28
GCP Asset Backed Income Fund Limited
(the "Company" or "GCP Asset Backed Income")
LEI 213800FBBZCQMP73A815
Results of Annual General Meeting 23 May 2017
GCP Asset Backed Income, which invests in asset backed loans, is pleased to announce that all resolutions put to the annual general meeting held today, 23 May 2017, were approved by the shareholders.
1) The details of the proxy votes lodged are set out below:
Resolutions | For | % | Against | % | Withheld |
1. Ordinary Resolution: THAT the report of the directors and the audited report and financial statements of the Company for the period 7 September 2015 to 31 December 2016 be adopted.
| 89,438,764 | 100% | 0 | 0% | 0 |
2. Ordinary Resolution: THAT the Directors' remuneration report for the period ended 31 December 2016 be approved.
| 89,434,014 | 99.99% | 4,750 | 0.01% | 0 |
3. Ordinary Resolution: THAT Mr Alex Ohlsson be re-elected as a director of the Company.
| 87,042,712 | 98.31% | 1,498,936 | 1.69% | 879,116 |
4. Ordinary Resolution: THAT the Company's dividend policy to continue to pay quarterly interim dividends per financial period, which in the financial period to 31 December 2016 have totalled 5.82 pence per ordinary share, with the objective of regular, growing distributions over the long term be approved.
| 89,438,764 | 100% | 0 | 0% | 0 |
5. Ordinary Resolution: THAT PwC be appointed as auditors of the Company to hold office from the conclusion of the Annual General Meeting to the conclusion of the next Annual General Meeting at which the audited annual report and financial statements are laid before the Company.
| 73,464,184 | 97.41% | 1,955,406 | 2.59% | 14,019,174 |
6. Ordinary Resolution: THAT the Audit Committee be authorised to determine the remuneration of PwC.
| 89,438,764 | 100% | 0 | 0% | 0 |
7. Ordinary Resolution: THAT the Company may hold any of the ordinary share of no par value in the capital of the Company purchased pursuant to the authority conferred by resolution 9 as treasury shares and the directors may, at their discretion, cancel, sell or transfer such treasury shares in accordance with Article 58A of the Companies (Jersey) Law 1991.
| 89,438,764 | 100% | 0 | 0% | 0 |
8. Ordinary Resolution: THAT the Directors be and are hereby authorised, in accordance with article 117 of the Company's articles of association, to offer holders of ordinary shares, to the extent and in the manner determined by the Directors the right to elect (in whole or in part) to receive ordinary shares, credited as being fully paid, instead of cash, in respect of any dividends as may be declared by the Directors from time to time, provided that the authority conferred by this resolution shall expire at the conclusion of the Annual General Meeting of the Company to be held in 2020.
| 89,438,764 | 100% | 0 | 0% | 0 |
9. Special Resolution: THAT the Company be generally and unconditionally authorised to make market purchases of up to 24,675,351 ordinary shares of no par value in the capital of the Company in accordance with the articles of association of the Company on such terms as the Directors think fit.
| 89,438,764 | 100% | 0 | 0% | 0 |
10. Special: Resolution: THAT the Company's articles of association be amended by the deletion of ", within three Business Days after the Calculation Date," in article 14.8.2(b). | 89,364,511 | 100% | 0 | 0% | 74,253 |
The full text of the resolutions may be found in the notice of the Annual General Meeting, copies of which are available on both the Company's website https://www.gcpuk.com/gcp-asset-backed-income-fund-ltd and on the National Storage Mechanism www.hemscott.com/nsm.do.
2) A copy of the special resolutions passed at the Annual General Meeting, have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.
For further information please contact:
Gravis Capital Management Limited +44 (0)20 7518 1490 | ||
David Conlon Philip Kent Dion Di Miceli | david.conlon@gcpuk.com philip.kent@gcpuk.com dion.dimiceli@gcpuk.com |
|
Cenkos Securities plc |
| +44 (0)20 7397 8900 |
Tom Scrivens Oliver Packard Sapna Shah | tscrivens@cenkos.com opackard@cenkos.com sshah@cenkos.com |
|
Buchanan |
| +44 (0)20 7466 5000 |
Charles Ryland Victoria Hayns | charlesr@buchanan.uk.com victoriah@buchanan.uk.com |
|
Capita Financial Administrators (Jersey) Limited +44 (0)1534 847000 | ||
Clare McIntosh Sophie Botterill | clare.mcintosh@capita.je sophie.botterill@capita.je |
|
Notes to Editors
The Company
GCP Asset Backed Income is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.
The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.