Result of AGM & EGM

RNS Number : 0256A

GCP Asset Backed Income Fund Ltd

23 May 2019

 

GCP Asset Backed Income Fund Limited

(the "Company" or "GCP Asset Backed")

LEI 213800FBBZCQMP73A815

Results of Annual General Meeting & Extraordinary General Meeting

GCP Asset Backed, which invests in asset backed loans, is pleased to announce that all resolutions put to the Annual General Meeting and the Extraordinary General Meeting held today, 23 May 2019, at the registered office of the Company were duly passed by the shareholders.

Total votes of 147,604,640 were cast at the Annual General Meeting. The results of the voting are set out below:

Summary Resolutions*	For	%	Against	%	Withheld
1. Ordinary Resolution: THAT the report of the directors and the audited annual report and financial statements of the Company for the year ended 31 December 2018 be received and adopted.	147,604,640	100.00%	0	0.00%	0
2. Ordinary Resolution: THAT the Directors' remuneration report for the year ended 31 December 2018 be approved.	132,177,310	100.00%	0	0.00%	15,427,330
3. Ordinary Resolution: THAT the Directors' remuneration policy be approved.	147,598,408	100.00%	0	0.00%	6,232
4. Ordinary Resolution: THAT Mr Alex Ohlsson be re-elected as a Director of the Company.	132,843,810	90.18%	14,465,320	9.82%	295,510
5. Ordinary Resolution: THAT Mr Colin Huelin be re-elected as a Director of the Company.	147,598,408	100.00%	0	0.00%	6,232
6. Ordinary Resolution: THAT Mrs Joanna Dentskevich be re-elected as a Director of the Company.	142,781,363	99.94%	92,083	0.06%	4,731,194
7. Ordinary Resolution: THAT the Company's dividend policy be approved.	147,604,640	100.00%	0	0.00%	0
8. Ordinary Resolution:  THAT PwC be re-appointed as auditors of the Company.	147,602,684	99.99%	1,956	0.01%	0
9. Ordinary Resolution: THAT the Audit and Risk Committee be authorised to determine the remuneration of PwC.	147,604,640	100.00%	0	0.00%	0
10. Ordinary Resolution: THAT the Company be generally and unconditionally authorised to hold, cancel, sell or transfer ordinary shares purchased pursuant to the authority granted under resolution 11 as treasury shares.	147,599,742	99.99%	4,898	0.01%	0
11. Special Resolution: THAT the Directors be generally and unconditionally authorised to make market purchases of up to 57,002,786 Ordinary Shares.	147,597,786	99.99%	6,854	0.01%	0
12. Special Resolution: THAT the Directors be authorised to allot and issue up to 38,027,209 Ordinary Shares, as if any pre-emption rights conferred by the Artciles did not apply.	147,599,742	99.99%	4,898	0.01	0

Total votes of 147,474,297 were cast at the Extraordinary General Meeting. The results of the voting are set out below:

Summary Resolutions*	For	%	Against	%	Withheld
Special Resolution: THAT in addition to Resolution 12 passed at the AGM (if passed) the Directors be and are hereby generally and unconditionally authorised to allot and issue an aggregate of up to 38,027,029 Ordinary Shares as if any pre-emption rights conferred by the Artciles did not apply.	147,464,642	99.99%	4,898	0.01	4,757

*The full text of the resolutions may be found in the notices of the Annual General Meeting and the Extraordinary General Meeting, copies of which are available on both the Company's website  https://www.graviscapital.com/funds/gcp-asset-backed/literature and on the National Storage Mechanism www.morningstar.co.uk/uk/NSM.

In accordance with Listing Rule 9.6.2, the full text of the special resolutions passed at the Annual General Meeting and the Extraordinary General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

For further information please contact:

Gravis Capital Management Limited                                                              [phone]
David Conlon
Dion Di Miceli
Cenkos Securities plc		[phone]
Tom Scrivens
Oliver Packard
Sapna Shah
Buchanan/Quill		[phone]
Helen Tarbet
Nick Croysdill Henry Wilson

Notes to Editors

The Company

GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.

 

END

 

 

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