18 Nov 2016 16:00
18 November 2016
VinaLand Limited
Results of the 2016 Annual General Meeting (AGM) and Extraordinary General Meeting (EGM)
VinaLand Limited ('the Company' or 'VNL'), announces today that shareholders have supported all the recommendations of the Board regarding all four resolutions which were put to a vote at the Company's AGM.
While at the EGM, shareholders supported recommendations of the Board regarding Resolutions 1, 2 and 3, the Board recommendation for Special Resolution 4 was not supported and as such Special Resolution 5 was not put to a vote at the Company's EGM held today in Zurich, Switzerland.
All resolutions were decided on a show of hands and the table below provides the detailed proxy voting
results for each separate resolution.
AGM RESOLUTIONS | For | %* | Against | %* | Vote withheld |
All of the Resolutions are ordinary resolutions | |||||
1. To receive and adopt the financial statements for the year ended 30 June 2016, with the reports of the directors and auditors thereon. | 255,556,598
| 99%
| 2,447,000
| 1%
| 635,000 |
2. To re-appoint Mr Michel Casselman as a Director of the Company. | 256,057,466 | 99%
| 2,571,132
| 1%
| 10,000 |
3. To re-appoint Mr Ian Lydall as a Director of the Company. | 256,057,466
| 99%
| 2,571,132
| 1%
| 10,000 |
4. To re-appoint PricewaterhouseCoopers (Hong Kong) as independent auditor to the Company and to authorise the Directors to determine their remuneration. | 256,181,598 | 99%
| 2,447,000
| 1%
| 10,000 |
EGM RESOLUTIONS | For | % | Against | % | Vote withheld |
| |||||
1. Special Resolution that the Company continue as currently constituted. | 4,682,882
| 2%
| 250,847,455
| 98%
| 10,000 |
2. Ordinary Resolution to adopt the revised investing policy and continuation policy, and adopt the reinstated Investment Management Agreement. | 223,201,399
| 87%
| 32,328,938
| 13%
| 10,000 |
3. Ordinary Resolution adopt the revised distribution policy. | 142,733,464 | 56%
| 112,796,873
| 44%
| 10,000 |
4. Special Resolution that the Articles be and are hereby amended in order to facilitate the orderly realisation of the Company's property portfolio, and (b) to provide an alternative mechanism for returning the net realisation proceeds to Shareholders by redesignating the issued Ordinary Shares into redeemable ordinary shares and allowing the Company to perform compulsory redemptions of Ordinary Shares. | 142,733,464
| 56%
| 112,796,873
| 44%
| 10,000 |
5. Special Resolution to redesignate the existing Ordinary Shares of the Company into redeemable shares. | Note voted as Resolution 4 was not passed
| -
| Not voted as Resolution 4 was not passed
| -
| - |
More information on the Company is available at www.vnl-fund.com
Enquiries:
Jonathan Viet Luu
VinaCapital Investment Management Limited
Investor Relations
+84 8 3821 9930
jonathan.luu@vinacapital.com
Joel Weiden
VinaCapital Investment Management Limited
Communications
+84 8 3821 9930
joel.weiden@vinacapital.com
Philip Secrett
Grant Thornton UK LLP, Nominated Adviser
+44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com