Result of EGM

RNS Number : 7264D

Africa Opportunity Fund Limited

27 June 2019

 

27 June 2019

Africa Opportunity Fund Limited ("AOF" or the "Company")

Result of Extraordinary General Meeting

The Company is pleased to announce that at the Extraordinary General Meeting held at 9.00 a.m. (Cayman Islands Time) / 3.00 p.m. (British Summer Time) on 27 June 2019 the resolutions tabled were duly passed without amendment.

The details of voting on the resolutions are as follows:

	In favour		Against		Withheld**	Total
	Votes	%*	Votes	%*
Ordinary resolution that the requirement of the Company to propose the realisation opportunity be and is hereby waived.	47,142,476	100%	0	0%	0	47,142,476
Ordinary resolution that the continuation of the existence of the Company be and is hereby approved.	47,142,476	100%	0	0%	0	47,142,476
Special resolution that the Company be reorganised as follows: (a) the text set out under "New Investing Policy" in paragraph 2 of Part III of the Company's circular to Shareholders dated 5 June 2019 (the "Circular") be and is hereby adopted as the new investment policy of the Company; (b) the terms of the Amended and Restated Investment Management Agreement (as defined in the Circular) be and are hereby approved; (c) the memorandum and the articles of association in the form initialled by the Chair of the meeting be adopted as the memorandum and articles of association of the Company in substitution for and to the exclusion of the existing memorandum and articles of association; and (d) any variation to the rights attaching to the Ordinary Shares in the Company pursuant to the adoption of the new memorandum and articles of association, and in particular the right for the Company to redeem the Ordinary Shares (including any redemptions made of 15 per cent. or more of the Company's issued share capital), be and is hereby approved.	47,142,476	100%	0	0%	0	47,142,476

* Percentage of votes cast excludes withheld votes.

** "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a resolution and is not reflected in the total figures set out above.

Further to the approval of the changes to the Company's Articles to permit compulsory redemptions of the Company's shares at the Board's discretion as a way of returning capital to shareholders, additional detail will be laid out in a separate announcement with respect to this mechanism in due course.

For further information please contact:

Africa Opportunity Fund Limited

Francis Daniels

Tel: [phone]

Liberum (Corporate Broker)

Gillian Martin / Owen Matthews

Tel: [phone]

About Africa Opportunity Fund Limited:

Africa Opportunity Fund Limited ("AOF") is a closed-end investment company incorporated in the Cayman Islands and traded on the Specialist Fund Segment of the London Stock Exchange. For more information about AOF, see www.africaopportunityfund.com 

 

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