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Last checked at 
4 Dec 2008 11:20
4 December 2008
Prodesse Investment Limited
Result of EGM
The Board of Prodesse Investment Limited (the "Company") announces that all the resolutions, proposed by Polygon Global Opportunities Master Fund and put to the Extraordinary General Meeting of the Company held today, 4 December 2008, were duly rejected by shareholders.
The total number of shares voted was 28,582,117, representing 92.3% of the issued share capital.
The Chairman of Prodesse, John Hallam, made the following statement shortly following the results.
"We are pleased that the majority of our shareholders have accepted the Board's recommendation to reject the proposals put forth at this EGM, and we thank them for their continued support and understanding of the risks and merits of Prodesse's strategy.
While the Company has not been immune to the challenges of global market conditions, the application of its investment strategy has enabled it to produce consistently superior distributable income to shareholders. As the benefits of economic and government policy continue to take hold in the market, we believe that investors in mortgage-backed assets which are protected by an assumed 100% US Federal Government guarantee such as those of the Company are set to be rewarded.
Looking forward, Prodesse shareholders will have the opportunity to vote on the future of the Company at the 2010 Annual Meeting, and we hope to continue to have an open dialogue with all shareholders so that they can make an informed decision at that time."
Enquiries:
Financial Dynamics
Rob Bailhache / Nick Henderson
07771 565 659 / 07870 660 383
BNP Paribas Fund Services (Guernsey) Limited:
Sara Radford / Jean McMillan 01481 750850
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