Result of AGM

RNS Number : 7004Q

Macau Property Opportunities Fund

09 November 2012

 



9 November 2012

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Result of Annual General Meeting (the "AGM")

The Company is pleased to announce that all resolutions proposed at its AGM, held at 2.30 pm on 8 November 2012, were duly passed without amendment.

In accordance with LR 9.6.18, details of those resolutions passed, which were not ordinary business of the AGM, follow:

Resolution	Votes For (including discretionary)	Votes Against	Votes Withheld
8 - Special	70,035,712 (100.00%)	0 (0%)	0
9 - Special	59,529,534 (84.99%)	10,506,178 (15.01%)	0

The full wording of these resolutions can be found below:

Resolution 8 - Special Resolution

THAT the Company in accordance with Section 315 of The Companies (Guernsey) Law, 2008 (as amended) (the "Law") be approved to make market acquisitions (as defined in Section 316 of the Law) of its own shares either for retention as treasury shares or for cancellation, provided that:

i)    the maximum number of shares authorised to be purchased is up to 14.99 percent of the shares in issue immediately following the passing of this resolution;

ii)   the minimum price which may be paid for a share is £0.01;

iii)  the maximum price which may be paid for a share is an amount equal to the higher of (a)105 percent of the average of the middle market quotations for a share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which that share is purchased and (b) either the higher of the price of the last independent trade and the highest current independent bid at the time of purchase;

iv)   subject to paragraph (v), such authority shall expire at the next annual general meeting of the Company unless such authority is varied, revoked or renewed prior to such date by a special resolution of the Company in general meeting;

v)    notwithstanding paragraph (iv), the Company may make a contract to purchase shares under such authority prior to its expiry which will or may be executed wholly or partly after its expiration and the Company may make a purchase of shares pursuant to any such contract.

Resolution 9 - Special Resolution

THAT the Directors be and they are hereby empowered to allot Ordinary Shares wholly for cash and/or to sell Ordinary Shares from Treasury wholly for cash as if the pre-emption rights contained in Article 4.3 of the Company's articles of incorporation did not apply to any such allotment, provided that:

i)    this power shall be limited to the allotment or sale of up to 9,992,975 Ordinary Shares;

ii)   this power shall expire at the conclusion of the next annual general meeting of the Company; and

iii)  the Company may before such expiry make an offer which would or might require Ordinary Shares to be allotted or sold after such expiry and the Directors may allot or sell Ordinary Shares in pursuance of such offer.

- End -

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey and listed on the London Stock Exchange Main Market.

Launched in 2006, the Company seeks to deliver long-term returns from the investment in and development of high quality properties located in Macau and the western region of China's Pearl River Delta. Its current US$375 million portfolio comprises a mix of strategically-positioned residential, retail and warehousing property assets.

The Fund is managed by Sniper Capital, an Asian-based property investment manager that provides highly focused Fund Management and Advisory Services.

For further information:

Website: www.mpofund.com

Public Relations

MHP Communications

Simon Hockridge / Andrew Jaques

Tel: [phone]

Manager (Investor Contact)

Sniper Capital

Tel: [phone]

Email: [e-mail]

www.snipercapital.com

Corporate Broker

Liberum Capital

Chris Bowman / Richard Bootle

Tel: [phone]

Company Secretary & Administrator

Heritage International Fund Managers

Mark Huntley

Tel: [phone]

Stock Codes:

Bloomberg:  MPO LN

Reuters:    MPO.L

 

END

 

 

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