Result of AGM

RNS Number : 8388V

Aberdeen Standard Asia Focus PLC

05 December 2019

 

Aberdeen Standard Asia Focus PLC (the "Company")

Legal Entity Identifier (LEI):  5493000FBZP1J92OQY70

RESULT OF ANNUAL GENERAL MEETING

5 December 2019

At the Annual General Meeting of the Company held on 4 December 2019, all resolutions in the Notice of Meeting were passed on a show of hands. 

In relation to Resolution 13 (authority to disapply pre-emption rights), 10.0 per cent. of the Company's issued share capital equates to 3,340,684 Ordinary shares as at today's date.  In relation to Resolution 14 (authority to purchase shares for cancellation or treasury), 14.99 per cent. of the Company's issued share capital equates to 5,007,686 Ordinary shares as at today's date.

The total number of proxy votes lodged was as follows:

	Resolution	Votes For	% For	Votes Against	% Against	Discretionary	Votes For & Discretionary	Total Votes Cast (Excluding Withheld)	Votes  Withheld
01	Reports and Accounts	16,395,477	100.00%	370	0.00%	317	16,395,794	16,396,164	5,414
02	Remuneration Report	16,333,374	99.76%	38,424	0.23%	317	16,333,691	16,372,115	29,464
03	Final Dividend	16,398,248	100.00%	67	0.00%	317	16,398,565	16,398,632	2,946
04	Special Dividend	16,395,606	100.00%	67	0.00%	317	16,395,923	16,395,990	5,588
05	Mr N.K. Cayzer	16,062,439	98.74%	204,501	1.26%	317	16,062,756	16,267,257	134,321
06	Mr M.J. Gilbert	11,236,300	69.04%	5,038,469	30.96%	317	11,236,617	16,275,086	126,493
07	Ms H. Fukuda	16,175,798	98.80%	195,858	1.20%	317	16,176,115	16,371,973	29,605
08	Viscount Dunluce	16,179,578	98.82%	192,742	1.18%	317	16,179,895	16,372,637	28,941
09	Ms C. Black	16,363,147	99.95%	7,763	0.05%	317	16,363,464	16,371,227	30,352
10	Ms D. Guthrie	16,363,555	99.93%	11,182	0.07%	317	16,363,872	16,375,054	26,524
11	Reappoint Auditors	15,495,392	94.71%	865,464	5.29%	317	15,495,709	16,361,173	40,406
12	Allot Shares	16,370,359	99.91%	14,065	0.09%	317	16,370,676	16,384,741	16,838
13	Pre-emption Rights	16,286,797	99.43%	92,333	0.56%	317	16,287,114	16,379,447	22,133
14	Purchase Own Shares	16,305,891	99.45%	89,801	0.55%	317	16,306,208	16,396,009	5,570
15	Short Notice GM's	16,199,496	98.91%	178,996	1.09%	317	16,199,813	16,378,809	22,769

The Board has noted that shareholder proxies representing 31% of the issued capital voted against the annual re-election of Mr Gilbert at the AGM held on 4 December 2019. The Board notes the substantial support received from the shareholders with proxies representing 69% having voted in favour of Mr Gilbert's re-election and unanimous support from the  shareholders in attendance at the AGM.  Mr Gilbert is a non-independent Director and the Board has a rigorous procedure in place to ensure that only independent Directors are permitted to be present when any matters relating to the Manager are discussed and this process is enforced strictly. Mr Gilbert, or his Alternate Mr Young, have attended all of the five scheduled Board meetings in the year to 31 July 2019 and there are no issues relating to either Mr Gilbert or his Alternate not having sufficient time to dedicate to the Company. Furthermore, Mr Gilbert has recently announced that he will not seek re-election to the board of Standard Life Aberdeen plc at its Annual General Meeting, scheduled for 12 May 2020, and that he will retire from Standard Life Aberdeen plc on 30 September 2020. The Board has a healthy mix of longer serving and more recently appointed Directors and the experience of the longer serving Directors has served the Company well through the investment cycles of the last 24 years and is valued by the Board as a whole.

PASSING OF RESOLUTIONS UNDER SPECIAL BUSINESS

A copy of the resolutions passed under special business will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM*.

*Neither the NSM website nor the content of any website accessible from hyperlinks on the NSM website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

For Aberdeen Asset Management PLC - Secretaries

5 December 2019

 

END

 

 

RAGFSSFFIFUSESE