Result of AGM

ASA International Group PLC

20 June 2024

 

Press release

ASA International Group plc announces result of Annual General Meeting

London, United Kingdom / Amsterdam, The Netherlands, 20 June 2024 - ASA International Group plc (LSE: ASAI) ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today held its Annual General Meeting ('AGM') at the offices of Cavendish Capital Markets, 1 Bartholomew Close, London EC1A 7BL, United Kingdom, at 11.00am BST.

Each of the resolutions contained in the Notice of Meeting was put to the AGM and voted on by way of a poll. All were duly approved.

As stated in the Company's AGM Notice and under Listing Rule 9.2.2.E, a resolution to elect or re-elect an Independent Director must be passed by both a majority of the independent shareholders (i.e. shareholders of the Company who are entitled to vote on the election of Directors and who are not controlling shareholders) and a majority of all shareholders (including the majority shareholder). In order to determine this, votes cast by the independent shareholders were counted separately in respect of the election of Guy Dawson, Hanny Kemna, Dr Salehuddin Ahmed, and Chris Low and are set out below.

The total number of votes received on each resolution put to the AGM was as follows:

No.	Resolution	Votes FOR (a)		%	Votes AGAINST	%	Votes WITHHELD (b)
1	Receive 2023 Annual Report and Financial Statements	83,652,902		98.83	992,697	1.17	0
2	Approve Annual Report on Remuneration	80,371,145		94.95	4,274,454	5.05	0
3	Elect Guy Dawson as a Director	All Independent	84,635,599	99.99	10,000	0.01	0
			38,306,655	99.97	10,000	0.03	0
4	Elect Karin Kersten as a Director	84,635,599		99.99	10,000	0.01	0
5	Elect Dirk Brouwer as a Director	84,635,599		99.99	10,000	0.01	0
6	Elect Hanny Kemna as a Director	All Independent	84,630,004	99.98	15,595	0.02	0
			38,301,060	99.96	15,595	0.04	0
7	Elect Salehuddin Ahmed as a Director	All Independent	84,635,599	99.99	10,000	0.01	0
			38,306,655	99.97	10,000	0.03	0
8	Elect Chris Low as a Director	All Independent	84,635,599	99.99	10,000	0.01	0
			38,306,655	99.97	10,000	0.03	0
9	Re-appoint Ernst & Young LLP as Auditor	84,635,599		99.99	10,000	0.01	0
10	Authorise Audit & Risk Committee to approve Auditor remuneration	84,635,599		99.99	10,000	0.01	0
11	Authorise Directors to allot shares	81,697,999		96.52	2,947,600	3.48	0
12	Authority to disapply pre-emption rights (up to 5% of issued share capital) (c)	84,635,599		99.99	10,000	0.01	0
13	Authority to disapply pre-emption rights in connection with specific acquisition/ investment (further 5% of issued share capital) (c)	84,632,745		99.98	12,854	0.02	0
14	Authority to purchase own shares (c)	84,632,745		99.98	12,854	0.02	0
15	Authority to call General Meetings (except AGMs) by notice of not less than 14 days (c)	82,675,101		97.67	1,970,498	2.33	0
16	Approval of waiver given by the Takeover Panel regarding Rule 9 of the Takeover Code (in the event of a share buyback)	36,974,206		96.50	1,342,449	3.50	2
17	Approval of waiver given by the Takeover Panel regarding Rule 9 of the Takeover Code (in the event of a share option exercise under the LTIP)	36,974,206		96.50	1,342,449	3.50	2

NOTES:

(a) The "For" proxy vote includes those giving the Chairman discretion.
(b) A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.
(c) Special resolution.

The total number of ordinary shares in issue on 18 June 2024, the deadline for casting votes by proxy in advance of the AGM, was 100,000,000 shares. 84.65% of voting capital, including votes withheld, was instructed in respect of the resolutions put to the AGM.

The full text of the resolutions can be found in the Notice of Annual General Meeting, which is available on the Company's website at https://www.asa-international.com/investors/shareholder-information/agm/ In accordance with the UK Listing Authority's Listing Rule 9.6.2, copies of all the resolutions passed by the Company's shareholders, other than ordinary business will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism 

Enquiries:

ASA International Group plc

Head of Investor Relations                                                                                                                                         

Mischa Assink

[e-mail]

About ASA International Group plc

ASA International is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa.

 

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