Annual General Meeting Statement

Acorn Income Fund Limited (the “Company”)
 (a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 34778)

ANNUAL GENERAL MEETING STATEMENT
26 September 2016

Further to the Annual General Meeting Notice dated 06 April 2016 (the “Notice”) and sent to shareholders of the Company on 14 April 2016, the Annual General Meeting was held today and shareholders voted in favour of Resolutions 1 to 9 and against Resolution 10, as recommended by the Directors, thereby supporting the continuation of the Company in its present form.

Helen Green, Chairman, commented: “The Board is very pleased that Ordinary shareholders have voted overwhelmingly to continue Acorn in its present form. We will now begin our consideration of a refinancing of the Zero Dividend Preference shares, which fall due for repayment on 31 January 2017. We anticipate that the ZDP refinancing can be effected at an attractive interest rate and therefore that the Company will be able to continue to provide Ordinary shareholders with a high level of income, underpinned by the Company’s material revenue reserve, as well as the opportunity for further capital growth driven principally by the Smaller Companies portfolio. Subject to stockmarket conditions, we will also be considering the potential to issue further Ordinary shares at the time of the refinancing.”

Details of the proxy voting results, which should be read alongside the Notice sent to shareholders, are noted below.

Ordinary Resolution	For	Against	Abstain
1	1,933,424	212,189	179,222
2	1,905,561	222,152	197,122
3	1,896,293	249,320	179,222
4	1,921,124	220,489	183,222
Special Business by Ordinary Resolution	For	Against	Abstain
5	1,919,524	217,689	187,622
6	1,896,193	241,020	187,622
Special Business by Special Resolution	For	Against	Abstain
7	1,925,024	212,189	187,622
8	1,925,024	212,189	187,622
9	1,896,193	212,189	216,453
10	5,800	2,310,684	8,351

Note - A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.

In accordance with Listing Rule 9.6.3, a copy of the special business and special resolutions have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM.

Enquiries: Company website: https://www.premierfunds.co.uk/investors/investments/investment-trusts/acorn-income-fund

Cara De La Mare
Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary
Tel: [phone]
Email:[e-mail]