Last checked at 
23 May 2019 13:30
GCP Asset Backed Income Fund Limited
(the "Company" or "GCP Asset Backed")
LEI 213800FBBZCQMP73A815
Results of Annual General Meeting & Extraordinary General Meeting
GCP Asset Backed, which invests in asset backed loans, is pleased to announce that all resolutions put to the Annual General Meeting and the Extraordinary General Meeting held today, 23 May 2019, at the registered office of the Company were duly passed by the shareholders.
Total votes of 147,604,640 were cast at the Annual General Meeting. The results of the voting are set out below:
Summary Resolutions* | For | % | Against | % | Withheld |
1. Ordinary Resolution: THAT the report of the directors and the audited annual report and financial statements of the Company for the year ended 31 December 2018 be received and adopted.
| 147,604,640 | 100.00% | 0 | 0.00% | 0 |
2. Ordinary Resolution: THAT the Directors' remuneration report for the year ended 31 December 2018 be approved.
| 132,177,310 | 100.00% | 0 | 0.00% | 15,427,330 |
3. Ordinary Resolution: THAT the Directors' remuneration policy be approved.
| 147,598,408 | 100.00% | 0 | 0.00% | 6,232 |
4. Ordinary Resolution: THAT Mr Alex Ohlsson be re-elected as a Director of the Company.
| 132,843,810 | 90.18% | 14,465,320 | 9.82% | 295,510 |
5. Ordinary Resolution: THAT Mr Colin Huelin be re-elected as a Director of the Company.
| 147,598,408 | 100.00% | 0 | 0.00% | 6,232 |
6. Ordinary Resolution: THAT Mrs Joanna Dentskevich be re-elected as a Director of the Company.
| 142,781,363 | 99.94% | 92,083 | 0.06% | 4,731,194 |
7. Ordinary Resolution: THAT the Company's dividend policy be approved.
| 147,604,640 | 100.00% | 0 | 0.00% | 0 |
8. Ordinary Resolution: THAT PwC be re-appointed as auditors of the Company.
| 147,602,684 | 99.99% | 1,956 | 0.01% | 0 |
9. Ordinary Resolution: THAT the Audit and Risk Committee be authorised to determine the remuneration of PwC.
| 147,604,640 | 100.00% | 0 | 0.00% | 0 |
10. Ordinary Resolution: THAT the Company be generally and unconditionally authorised to hold, cancel, sell or transfer ordinary shares purchased pursuant to the authority granted under resolution 11 as treasury shares.
| 147,599,742 | 99.99% | 4,898 | 0.01% | 0 |
11. Special Resolution: THAT the Directors be generally and unconditionally authorised to make market purchases of up to 57,002,786 Ordinary Shares.
| 147,597,786 | 99.99% | 6,854 | 0.01% | 0 |
12. Special Resolution: THAT the Directors be authorised to allot and issue up to 38,027,209 Ordinary Shares, as if any pre-emption rights conferred by the Artciles did not apply.
| 147,599,742 | 99.99% | 4,898 | 0.01 | 0 |
Total votes of 147,474,297 were cast at the Extraordinary General Meeting. The results of the voting are set out below:
Summary Resolutions* | For | % | Against | % | Withheld |
Special Resolution: THAT in addition to Resolution 12 passed at the AGM (if passed) the Directors be and are hereby generally and unconditionally authorised to allot and issue an aggregate of up to 38,027,029 Ordinary Shares as if any pre-emption rights conferred by the Artciles did not apply. | 147,464,642 | 99.99% | 4,898 | 0.01 | 4,757 |
\* The full text of the resolutions may be found in the notices of the Annual General Meeting and the Extraordinary General Meeting, copies of which are available on both the Company's website https://www.graviscapital.com/funds/gcp-asset-backed/literature and on the National Storage Mechanism www.morningstar.co.uk/uk/NSM.
In accordance with Listing Rule 9.6.2, the full text of the special resolutions passed at the Annual General Meeting and the Extraordinary General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
For further information please contact:
Gravis Capital Management Limited +44 (0)20 3405 8500 | ||
David Conlon | ||
Dion Di Miceli | ||
Cenkos Securities plc | +44 (0)20 7397 8900 | |
Tom Scrivens | ||
Oliver Packard | ||
Sapna Shah | ||
Buchanan/Quill | +44 (0)20 7466 5000 | |
Helen Tarbet | ||
Nick Croysdill Henry Wilson | ||
Notes to Editors
The Company
GCP Asset Backed 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.