Result of AGM

HarbourVest Global Priv. Equity Ltd

19 July 2023

 

 

19 July 2023

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA IF TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS AND REGULATIONS IN SUCH JURISDICTION

HARBOURVEST GLOBAL PRIVATE EQUITY LIMITED

RESULTS OF ANNUAL GENERAL MEETING    

HarbourVest Global Private Equity Limited ("HVPE" or the "Company"), a FTSE 250 investment company with global exposure to private companies, managed by HarbourVest Partners, hereby announces the results of its Annual General Meeting (the "AGM") held on Wednesday 19 July 2023 at 1:00 p.m. at St Pierre Park Hotel, Rohais, St Peter Port, Guernsey GY1 1FD.

The Company advises that the proxy votes received were as follows:

ORDINARY BUSINESS

IT WAS RESOLVED to receive the Annual Financial Statements of the Company and the reports of the Directors and Auditor for the year ended 31 January 2023.

(42,473,732 votes cast in favour, 2,162 against and 3,591 withheld).

IT WAS RESOLVED approve the Directors' remuneration report for the year ended 31 January 2023.

(42,436,206 votes cast in favour, 36,006 against and 7,273 withheld).

IT WAS RESOLVED to re-elect Ms Anulika Ajufo as a Director of the Company.

(42,462,585 votes cast in favour, 10,358 against and 6,542 withheld).

IT WAS RESOLVED to re-elect Ms Francesca Barnes as a Director of the Company.

(42,463,633 votes cast in favour, 10,931 against and 4,921 withheld).

IT WAS RESOLVED to re-elect Ms Elizabeth (Libby) Burne as a Director of the Company.

(42,464,403 cast in favour, 10,161 against and 4,921 withheld).

IT WAS RESOLVED to re-elect Ms Carolina Espinal as a Director of the Company.

(38,160,174 votes cast in favour, 4,312,769 against and 6,542 withheld).

IT WAS RESOLVED to re-elect Mr Edmond Warner as a Director of the Company.

(42,441,919 votes cast in favour, 32,645 against and 4,921 withheld).

IT WAS RESOLVED to re-elect Mr Steven Wilderspin as a Director of the Company.

(42,463,633 votes cast in favour, 10,931 against and 4,921 withheld).

IT WAS RESOLVED to re-appoint Ernst & Young LLP as the independent Auditor of the Company.

(41,645,467 votes cast in favour, 826,979 against and 7,039 withheld).

IT WAS RESOLVED to authorise the Directors to agree the Auditor's remuneration.

(41,860,468 votes cast in favour, 611,982 against and 7,035 withheld).

SPECIAL BUSINESS

IT WAS RESOLVED that, in replacement for all previous authorities, the Company be authorised to make market purchases of ordinary shares of no par value each in the capital of the Company on the terms set out in the notice of the AGM.

(42,104,535 votes cast in favour, 410,057 against and 4,115 withheld).

For further information, please contact:

BNP Paribas S.A., Guernsey Branch

Company Secretary

[phone]

- ENDS -

LEI: 213800NBWV6WWV8TOL46

Enquiries:

Shareholders
Richard Hickman	Tel: [phone]	[e-mail]
Charlotte Edgar	Tel: [phone]	[e-mail]
Media
HarbourVest Partners
Lily Cabianca	Tel: [phone]	[e-mail]
MHP
Charlie Barker / Robert Collett-Creedy	Tel: [phone]	[e-mail]

Notes to Editors:

About HarbourVest Global Private Equity Limited:

HarbourVest Global Private Equity Limited ("HVPE" or the "Company") is a Guernsey-incorporated, closed-end investment company which is listed on the Main Market of the London Stock Exchange and is a constituent of the FTSE 250 index. HVPE is designed to offer shareholders long-term capital appreciation by investing in a private equity portfolio diversified by geography, stage of investment, vintage year, and industry. The Company invests in and alongside HarbourVest-managed funds which focus on primary fund commitments, secondary investments and direct co-investments in operating companies. HVPE's investment manager is HarbourVest Advisers L.P., an affiliate of HarbourVest Partners, LLC, an independent, global private markets asset manager with 40 years of experience.

About HarbourVest Partners, LLC:

HarbourVest is an independent, global private markets firm with 40 years of experience and more than $106 billion of assets under management as of December 31, 2022. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,000 employees, including more than 215 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $55 billion to newly-formed funds, completed over $46 billion in secondary purchases, and invested over $33 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in any jurisdiction and should not be relied upon in connection with any decision to subscribe for or acquire any Shares.  In particular, this announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States or to US Persons (as defined in Regulation S under the US Securities Act of 1933, as amended ("US Persons")).  Neither this announcement nor any copy of it may be taken, released, published or distributed, directly or indirectly to US Persons or in or into the United States (including its territories and possessions), Canada, Australia or Japan, or any jurisdiction where such action would be unlawful. Accordingly, recipients represent that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business. No recipient may distribute, or make available, this announcement (directly or indirectly) to any other person. Recipients of this announcement should inform themselves about and observe any applicable legal requirements in their jurisdictions.

The Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and, accordingly, may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, within the United States or to US Persons.  In addition, the Company is not registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act") and shareholders of the Company will not have the protections of that act.  There will be no public offer of the Shares in the United States or to US Persons.

This announcement has been prepared by the Company and its investment manager, HarbourVest Advisers L.P. (the "Investment Manager"). No liability whatsoever (whether in negligence or otherwise) arising directly or indirectly from the use of this announcement is accepted and no representation, warranty or undertaking, express or implied, is or will be made by the Company, the Investment Manager or any of their respective directors, officers, employees, advisers, representatives or other agents ("Agents") for any information or any of the opinions contained herein or for any errors, omissions or misstatements. None of the Investment Manager nor any of their respective Agents makes or has been authorised to make any representation or warranties (express or implied) in relation to the Company or as to the truth, accuracy or completeness of this announcement, or any other written or oral statement provided. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, estimates or forecasts contained in this announcement and nothing in this announcement is or should be relied on as a promise or representation as to the future.

Epidemics, Pandemics and Other Health Risks - Many countries have experienced infectious illnesses in recent decades, including swine flu, avian influenza, SARS and 2019-nCoV (the "Coronavirus"). In December 2019, an initial outbreak of the Coronavirus was reported in Hubei, China. Since then, a large and growing number of cases have been confirmed around the world. The Coronavirus outbreak has resulted in numerous deaths and the imposition of both local and more widespread "work from home" and other quarantine measures, border closures and other travel restrictions causing social unrest and commercial disruption on a global scale. The World Health Organization has declared the Coronavirus outbreak a pandemic. The ongoing spread of the Coronavirus has had and will continue to have a material adverse impact on local economies in the affected jurisdictions and also on the global economy as cross-border commercial activity and market sentiment are increasingly impacted by the outbreak and government and other measures seeking to contain its spread. In addition to these developments having potentially adverse consequences for underlying portfolio investments of the HarbourVest funds and the value of the investments therein, the operations of HVPE, the Investment Manager, and HVPE's portfolio of HarbourVest funds have been, and could continue to be, adversely impacted, including through quarantine measures and travel restrictions imposed on personnel or service providers based around the world, and any related health issues of such personnel or service providers. Any of the foregoing events could materially and adversely affect the Investment Manager's ability to source, manage and divest its investments and its ability to fulfil its investment objectives. Similar consequences could arise with respect to other comparable infectious diseases. 

Other than as required by applicable laws, the Company gives no undertaking to update this announcement or any additional information, or to correct any inaccuracies in it which may become apparent and the distribution of this announcement. The information contained in this announcement is given at the date of its publication and is subject to updating, revision and amendment. The contents of this announcement have not been approved by any competent regulatory or supervisory authority.

This announcement includes statements that are, or may be deemed to be, "forward looking statements".  These forward looking statements can be identified by the use of forward looking terminology, including the terms "believes", "projects", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could", "should" or "continue" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of the Company.  By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's ability to control or predict. Forward looking statements are not guarantees of future performance.   More detailed information on the potential factors which could affect the financial results of the Company is contained in the Company's public filings and reports.

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 decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.

This announcement is issued by the Company, whose registered address is BNP Paribas House, St Julian's Avenue, St Peter Port, Guernsey, GY1 1WA

© 2023 HarbourVest Global Private Equity Limited. All rights reserved.

 

END