Result of Meetings

RNS Number : 0205V

UIL Limited

09 April 2021

 

9 April 2021

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

UIL FINANCE LIMITED

(LEI Number: 213800JPJWZ5P3QJX538)

UIL Limited ("UIL" or the "Company")
UIL Finance Limited ("UIL Finance")

Result of Special General Meeting
Result of 2026 ZDP Class Meeting

Adjournment of 2022 ZDP Class Meeting and 2024 ZDP Class Meeting

The Board of UIL Limited and UIL Finance Limited is pleased to announce the results of the Special General Meeting and the 2026 ZDP Class Meeting which were held earlier today.  As announced on 17 March 2021, the Special General Meeting and the separate Class Meetings had been convened in relation to the proposed amendment of UIL's investment policy. 

Result of Special General Meeting

The Resolution, which was subject to approval being obtained from not less than 50 per cent. of all Shareholders, was passed by way of a poll.  The results of the poll were as follows:

RESOLUTION  - THAT subject to the passing of the resolutions to be proposed at each of the Class Meetings, the amended investment policy as set out in the Circular be and is hereby approved and adopted to the exclusion of the Company's current investment policy.

Votes For	Votes Against	Withheld
66,966,145 (99.96%)	26,024 (0.04%)	23,671

Result of the 2026 ZDP Class Meeting

The Resolution, requiring the approval of 75 per cent. of the votes cast in respect of it at each Class Meeting, was passed by way of a poll. The results of the poll were as follows:

RESOLUTION  - THAT subject to the passing of the resolutions to be proposed at each of the other Class Meetings and at the Special General Meeting, the amended investment policy as set out in the Circular be and is hereby approved and adopted to the exclusion of UIL Limited's current investment policy.

Votes For	Votes Against	Withheld
9,133,779 (99.66%)	30,800 (0.34%)	0

Adjournment of the 2022 ZDP Class Meeting and 2024 ZDP Class Meeting

A minimum of two persons holding or representing by proxy at least one third in number of the issued ZDPs of the relevant class of ZDP, must be in attendance at each of the Class Meetings in order for the relevant Class Meeting to be quorate. An insufficient amount of 2022 ZDP Shares and 2024 ZDP Shares were represented at the 2022 and 2024 ZDP Class Meetings held earlier today and therefore the 2022 and 2024 ZDP Class Meetings were inquorate and were adjourned.

Pursuant to the Bye-laws of UIL Finance Limited, a reduced quorum of one 2022 ZDP Shareholder and one 2024 ZDP Shareholder present in person or by proxy now applies in respect of the adjourned 2022 and 2024 ZDP Class Meetings which will be held at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda at 9.05 a.m. and 9.10 a.m. respectively, Bermuda time, on 16 April 2021.

Forms of Proxy and Forms of Instruction for the 2022 and 2024 ZDP Class Meetings may continue to be submitted in line with the amended timetable below.  Forms of Proxy and Forms of Instruction that have already been submitted for the 2022 and 2024 ZDP Class Meetings remain valid for the adjourned meetings and do not need to be re-submitted unless a change in voting intention is required.

In light of the ongoing Covid-19 situation and measures in place to prevent the spread of the virus, 2022 and 2024 ZDP Shareholders are asked not to attend the relevant Class Meeting in person. Voting on the Resolutions will be conducted on a poll and ZDP Shareholders are therefore strongly encouraged to register their votes in advance by completing and returning the relevant Forms of Proxy, appointing the chairman of the relevant Meeting as their proxy to ensure their votes are counted.

Amended Timetable

	2021
Latest time and date for receipt of Forms of Instruction from holders of Depositary Interests	1.00 p.m. (London time) on 13 April
Latest time and date for receipt of Forms of Proxy	1.00 p.m. (London time) on 14 April
Adjourned 2022 ZDP Class Meeting	9.05 a.m. (Bermuda time) on 16 April
Adjourned 2024 ZDP Class Meeting	9.10 a.m. (Bermuda time) on 16 April (or as soon as practicable thereafter as the 2022 ZDP Class Meeting has concluded)
Announcement of the results of the 2022 and 2024 ZDP Class Meetings	16 April

Terms used and not defined in this announcement bear the meaning given to them in the Circular published on 17 March 2021.

Name of contact and telephone number for enquiries:

ICM Investment Management Limited   

Charles Jillings / Alastair Moreton  [phone]

Shore Capital     

Rose Ramsden / Hugo Masefield  [phone]

 

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