Information  X 
Enter a valid email address

GCP Infra Inv Ltd (GCP)

  Print   

Monday 14 February, 2022

GCP Infra Inv Ltd

Result of AGM

RNS Number : 6275B
GCP Infrastructure Investments Ltd
14 February 2022
 

 

GCP Infrastructure Investments Limited

("GCP Infra" and/or the "Company")

LEI213800W64MNATSIV5Z47

 

Result of Annual General Meeting ("AGM")

 

GCP Infra, the only UK listed fund focused primarily on investments in UK infrastructure debt, today announces the results of voting at the Annual General Meeting the Company held on Monday 14 February 2022 at the Registered Office of the Company.

 

Each of the Ordinary Resolutions and Special Resolutions proposed in the notice and agenda of the AGM were duly passed by the shareholders on a poll. The results of the voting   are noted as follows:

 

Summary Resolutions1

For / Discretion2

%

Against

%

Withheld

1.  Ordinary Resolution: THAT the Report of the Directors and the audited financial statements of the Company for the year ended 30 September 2021 be adopted.

574,946,561

99.99

1,338

0.01

64,165

2.  Ordinary Resolution: THAT the Directors' remuneration report for the year ended 30 September 2021 be received and approved.

574,701,219

99.97

196,865

0.03

113,980

3.  Ordinary Resolution: THAT the Directors' remuneration policy for the year ended 30 September 2021 be approved.

571,851,559

99.47

3,072,156

0.53

88,349

4.  Ordinary Resolution: THAT Ian Reeves CBE be re-elected as a director of the Company.

510,642,415

88.82

64,299,646

11.18

70,003

5.  Ordinary Resolution: THAT Julia Chapman be re-elected as a director of the Company.

574,796,224

99.97

145,837

0.03

70,003

6.  Ordinary Resolution: THAT Michael Gray be re-elected as a director of the Company.

569,984,115

99.14

4,957,946

0.86

70,003

7.  Ordinary Resolution: THAT Steven Wilderspin be elected as a director of the Company.

479,526,277

83.75

93,040,410

16.25

2,445,377

8.  Ordinary Resolution: THAT Dawn Crichard be re-elected as a director of the Company.

574,796,326

99.97

145,735

0.03

70,003

9.  Ordinary Resolution: THAT Andrew Didham be elected as a director of the Company.

570,429,342

99.22

4,507,547

0.78

75,175

10. Ordinary Resolution: THAT the Company's dividend policy be approved.

574,937,851

99.99

45,338

0.01

28,875

11. Ordinary Resolution: THAT KPMG Channel Islands Jersey Limited be re-appointed as Auditors to the Company.

536,234,035

93.27

38,665,600

6.73

112,429

12.  Ordinary Resolution: THAT the remuneration of KPMG Channel Islands Jersey Limited be determined by the Audit and Risk Committee.

574,828,020

99.99

72,965

0.01

111,079

13.  Ordinary Resolution: THAT the Company be authorised to hold Ordinary Shares purchased pursuant to the authority granted under Resolution (14) as treasury shares.

574,870,792

99.99

59,338

0.01

81,934

14.  Special Resolution: THAT the Company be authorised to make market purchases of up to 132,336,855 Ordinary Shares.

536,350,963

93.28

38,659,592

6.72

1,509

15.  Special Resolution: THAT the Directors be authorised to allot and issue up to 88,283,426 Ordinary Shares, as if pre-emption rights in the articles did not apply.

567,910,434

98.77

7,097,313

1.23

4,317

 

1. The  full text of the resolutions may be found in the notice of the Annual General Meeting, a copy of which is available on both the Company's website   https://www.gcpinfra.com   and on the National Storage Mechanism  https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

2.  Any proxy appointments which gave discretion to the Chairman or a third party were voted for the resolution.

The Board notes that votes representing 11.18% and 16.25% of total votes cast were received against resolutions 4 and 7.

The Association of Investment Companies Code of Corporate Governance (the "AIC Code") notes that where a significant proportion of votes have been cast against a resolution at a general meeting, a company should explain what actions it has taken to understand the reasons behind the vote. For these purposes, the AIC consider 20% or more of votes cast against a board recommendation for a resolution as being "significant" as opposed to Pensions and Investment Research Consultants Limited (PIRC), who consider 10% or more votes cast against a resolution as being significant.

The Company will seek to engage with the relevant shareholders who voted against the resolutions, in order to understand the reasons for their votes and address their concerns.

In accordance with Listing Rule 9.6.2, the full text of the special resolutions passed at the Annual General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at  https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

 

For further information, please contact:

 

Gravis Capital Management Limited

Phil Kent

 

+44 (0)20 3405 8500

Stifel Nicolaus Europe Limited 

Mark Bloomfield

Nick Donovan

 

+44 (0)20 7710 7600

Buchanan/Quill 

Helen Tarbet

Sarah Gibbons-Cook

Henry Wilson

+44 (0)20 7466 5000

 

Notes to the Editor

 

About GCP Infra

GCP Infra is a closed-ended investment company and FTSE-250 constituent whose shares are traded on the main market of the London Stock Exchange. Its objective is to provide shareholders with regular, sustained, long-term distributions and to preserve capital over the long term by generating exposure to UK infrastructure debt and related and/or similar assets.

 

The Company primarily targets investments in infrastructure projects with long term, public sector-backed, availability-based revenues. Where possible, investments are structured to benefit from partial inflation protection. GCP Infra is advised by Gravis Capital Management Limited.

 

GCP Infra has been awarded with the London Stock Exchange's Green Economy Mark in recognition of its contribution to positive environmen tal outcomes.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RAGTIMATMTMBBBT

a d v e r t i s e m e n t