Result of AGM and Appointment of Director

RNS Number : 5659H

Sequoia Economic Infra Inc Fd Ld

04 August 2021

 

4 August 2021

Sequoia Economic Infrastructure Income Fund Limited

 (the "Company")

Result of Annual General Meeting and Appointment of Non-Executive Director

The Company is pleased to announce that at the Annual General Meeting (the "AGM") of the Company held at 10.00am today, 4 August 2021, each of the proposed resolutions were duly passed by a poll .

Further to the Company's announcement on 29 June 2021, the Board is pleased to confirm the appointment of Sarika Patel as non-executive director of the Company with immediate effect, following her unanimous election at the AGM with 1,094,529,506 votes in favour and no votes against.

The number of shares voted in person or by proxy on the resolutions proposed at the AGM, of which resolutions 1-12 were proposed as ordinary resolutions and resolutions 13 and 14 were proposed as special resolutions, were as follows:

1.  To receive the Financial Statements and Directors' Report for the year ended 31 March 2021.

1,094,549,525 votes were in favour of the resolution (100.00% of votes cast) and 0 votes were against (0.00% of votes cast). 92,100 votes were withheld.

2.           To approve the Directors' Remuneration Report for the year ended 31 March 2021.

1,089,236,541 votes were in favour of the resolution (99.52% of votes cast) and 5,281,907 votes were against (0.48% of votes cast). 123,177 votes were withheld.

3. THAT Robert Jennings be re-elected as a director of the Company.

1,094,466,100 votes were in favour of the resolution (100.00% of votes cast) and 21,738 votes were against (0.00% of votes cast). 153,787 votes were withheld.

4. THAT Sandra Platts be re-elected as a director of the Company.

1,089,280,593 votes were in favour of the resolution (99.52% of votes cast) and 5,248,913 votes were against (0.48% of votes cast). 112,119 votes were withheld.

5. THAT Jonathan Bridel be re-elected as a director of the Company.

1,017,526,499 votes were in favour of the resolution (92.97% of votes cast) and 76,961,339 votes were against (7.03% of votes cast). 153,787 votes were withheld.

6. THAT Jan Pethick be re-elected as a director of the Company.

1,094,514,060 votes were in favour of the resolution (100.00% of votes cast) and 15,446 votes were against (0.00% of votes cast). 112,119 votes were withheld.

7.  THAT Mrs Sarika Patel be elected as a director of the Company

1,094,529,506 votes were in favour of the resolution (100.00% of votes cast) and 0 votes were against (0.00% of votes cast). 112,119 votes were withheld.

8. THAT KPMG Channel Islands Limited, who have indicated their willingness to continue in office, be re-appointed as auditors of the Company to hold office from the conclusion of this annual general meeting until the conclusion of the next annual general meeting of the Company.

1,072,781,456 votes were in favour of the resolution (98.01% of votes cast) and 21,755,569 votes were against (1.99% of votes cast). 104,600 votes were withheld.

9. THAT the Directors be authorised to determine the remuneration of the auditors for their next period of office.

1,094,489,755 votes were in favour of the resolution (100.00% of votes cast) and 52,037 votes were against (0.00% of votes cast). 99,833 votes were withheld.

10. To approve the Company's dividend policy set out in the prospectus published by the Company on 10 February 2020.

1,094,641,625 votes were in favour of the resolution (100.00% of votes cast) and 0 votes were against (0.00% of votes cast). No votes were withheld.

11. THAT pursuant to article 35.4 of the Articles of Incorporation of the Company (the "Articles") the Company continues its business as a closed-ended investment company.

1,094,197,705 votes were in favour of the resolution (100.00% of votes cast) and 0 votes were against (0.00% of votes cast). 6,600 votes were withheld.

12. THAT in accordance with Article 31A of the Articles, the Directors be and are hereby authorised to offer to any holders of Ordinary Shares (excluding any member holding Ordinary Shares as treasury shares) the right to elect to receive Ordinary Shares credited as fully paid, instead of cash in respect of the whole (or some part to be determined by the Directors) of all or any dividends declared or paid during the period from the date hereof and ending prior to the date of the annual general meeting of the Company to be held in 2023, on such terms as the Directors may determine.

1,094,112,205 votes were in favour of the resolution (100.00% of votes cast) and 0 votes were against (0.00% of votes cast). 92,100 votes were withheld.

13.        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.

1,072,538,517 votes were in favour of the resolution (98.02% of votes cast) and 21,665,788 votes were against (1.98% of votes cast). No votes were withheld.

14.      THAT in substitution for all existing authorities to disapply pre-emptions rights the Directors be and are hereby authorised to allot and issue equity securities.

1,054,596,493 votes were in favour of the resolution (96.38% of votes cast) and 39,601,212 votes were against (3.62% of votes cast). 6,600 votes were withheld.

For further information please contact:

Sequoia Investment Management Company Steve Cook Dolf Kohnhorst Randall Sandstrom Greg Taylor Anurag Gupta	[phone]
Jefferies International Limited (Corporate Broker & Financial Adviser) Neil Winward Gaudi Le Roux	[phone]
Tulchan Communications (Financial PR) Martin Pengelley Elizabeth Snow Deborah Roney	[phone]
Praxis Fund Services Limited (Company Secretary) Matt Falla Katrina Rowe	[phone]

About Sequoia Economic Infrastructure Income Fund Limited

The Company seeks to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments. The Company is advised by Sequoia Investment Management Company Limited.

LEI: 2138006OW12FQHJ6PX91

 

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