Result of AGM

RNS Number : 7669Y

Fair Oaks Income Fund Limited

19 May 2016

 

Fair Oaks Income Fund Limited

19 May 2016

FAIR OAKS INCOME FUND LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

RESULTS OF AGM

The Board of the Company is pleased to announce that, at the second Annual General Meeting of the Company held earlier today,  the following proposed resolutions were approved by shareholders on a poll.

The number of Shares voted in person or by proxy on the resolutions, each of which was proposed as an ordinary resolution, was as follows.

1.             THAT the Financial Statements of the Company for the year ended 31 December 2015 with the Report of the Directors and Auditors thereon be received and adopted.

158,300,374 votes were in favour of the resolution (90.68% of votes cast) and 16,269,355 votes were against (9.32% of votes cast). No votes were withheld.

2.             THAT Claudio Albanese be re-elected as a Director of the Company.

170,845,065 votes were in favour of the resolution (97.87% of votes cast) and 3,724,664 votes were against (2.13% of votes cast). No votes were withheld.

3.             THAT Jonathan Bridel be re-elected as a Director of the Company.

174,569,729 votes were in favour of the resolution (100.00% of votes cast) and no votes were against. No votes were withheld.

4.             THAT Nigel Ward be re-elected as a Director of the Company.

174,569,729 were in favour of the resolution (100.00% of votes cast) and no votes were against. No votes were withheld.

5.             THAT KPMG Channel Islands Limited be re-appointed as Auditors of the Company for the year ended 31 December 2016.

158,300,374 votes were in favour of the resolution (90.68% of votes cast) and 16,269,355 votes were against (9.32% of votes cast). No votes were withheld.

6.             THAT the Directors be authorised to fix the remuneration of the Auditors for their next period of office.

174,569,729 votes were in favour of the resolution (100.00% of votes cast) and no votes were against. No votes were withheld.

The following was proposed as a special resolution:

7.             THAT the Company be and is hereby generally authorised, for the purposes of the Companies (Guernsey) Law, 2008, as amended (the "Law") to make market purchases (as identified in the Law) of its Ordinary Shares in issue.

136,957,864 votes were in favour of the resolution (78.45% of votes cast) and 37,611,865 votes were against (21.55% of votes cast). No votes were withheld.

The following was proposed as an extraordinary resolution but not approved by shareholders on a poll:

8.             THAT the Directors of the Company be and are hereby empowered to issue C Shares in the              Company, or rights to subscribe for C Shares for cash.

                111,921,687 votes were in favour of resolution (66.79% of votes cast). 55,644,782 votes were against        the resolution (33.21% of votes cast). 7,003,260 votes were withheld.

Enquiries:

Fair Oaks Income Fund Limited

Email: [e-mail]

Web: www.fairoaksincomefund.com

Fair Oaks Capital Limited

Hayley Stewart

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail] 

Fair Oaks Income Fund Limited

Fair Oaks Income Fund Limited is an authorised closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange on 12 June 2014. The Company's ordinary shares have the TIDM: FAIR and ISIN: GG00BMBN1D14.

The investment policy of the Company is to seek exposure to US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by investing in FOIF LP (the "Master Fund").

Notes

1) The General Partner's estimate of the potential total return for this investment is calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.

2) This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

 

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