19 Nov 2015 16:08
19 November 2015
SQN Asset Finance Income Fund Limited
Result of Annual General Meeting
SQN Asset Finance Income Fund Limited is pleased to announce that, at the Annual General Meeting held at 14:00 GMT today, all of the resolutions proposed at the Annual General Meeting were duly passed. Two of these were special resolutions as follows:
Resolution 7 - Share Purchase Authority
THAT (subject to the Listing Rules and all other applicable legislation and regulations) the Company generally be and is hereby authorised for the purposes of section 315 of the Companies (Guernsey) Law, 2008 to make market acquisitions of its ordinary shares of no par value ("Ordinary Shares") for all and any purposes, provided that:
a) the maximum number of Ordinary Shares hereby authorised to be purchased shall be 14.99% of the aggregate number of Ordinary Shares in issue immediately following the passing of this resolution;
b) the minimum price (exclusive of expenses) which may be paid for the Ordinary Shares shall be 0.01 pence;
c) the maximum price (exclusive of expenses) which may be paid for an Ordinary Share shall be not more than the higher of (i) five per cent. above the average of the middle market quotations for the relevant Ordinary Share as derived from the Daily Official List of the London Stock Exchange plc for the five business days before the day the purchase is made and (ii) the higher of the price of the last independent trade and the highest independent bid at the time of purchase for the relevant Ordinary Share;
d) the authority hereby conferred shall expire at the conclusion of the next Annual General Meeting of the Company or, if earlier, on the expiry of 18 months from the passing of this resolution, unless such authority is renewed, varied or revoked prior to such time save that the Company may, prior to such expiry, enter into a contract to purchase any share in issue from time to time under such authority which will or may be executed wholly or partly after the expiration of such authority and may make a purchase of such shares pursuant to any such contract; and
e) any Ordinary Shares bought back by the Company may be held in treasury in accordance with the Law or be subsequently cancelled by the Company.
Resolution 8 - Dis-apply pre-emption rights
THAT in accordance with Article 7.7 of the Company's articles of incorporation (the "Articles") the Directors of the Company be and are hereby authorised to issue equity securities (within the meaning of the Articles) for cash pursuant to Article 6.1 as if Article 7.2 of the Articles did not apply to any such issue, provided that this power shall be limited to the issue of up to 17,898,550 Ordinary Shares or, if less, 10% of the Ordinary Shares in issue (excluding treasury shares) immediately following the passing of this resolution. This authority will expire upon the date of the next Annual General Meeting of the Company or, if earlier, on the expiry of 18 months from the passing of this resolution, unless previously renewed, varied or revoked by the Company by special resolution.
For further information please contact:
BNP Paribas Securities Services S.C.A. Guernsey Branch
Sarah Hendry
Telephone: 01481 750 850
Winterflood Securities Limited
Neil Langford
Chris Mills
Telephone: 020 3100 0000
Buchanan Communications Limited
Charles Ryland
Vicky Watkins
Telephone: 020 7466 5000