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Henderson Alt Strat (HAST)

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Wednesday 16 September, 2020

Henderson Alt Strat

Result of AGM

RNS Number : 2066Z
Henderson Alternative Strat Tst PLC
16 September 2020
 

HENDERSON INVESTMENT FUNDS LIMITED

 

HENDERSON ALTERNATIVE STRATEGIES TRUST PLC

 

LEGAL ENTITY IDENTIFIER: 213800J6LLOCA3CUDF69

 

16 September 2020

 

 

HENDERSON ALTERNATIVE STRATEGIES TRUST PLC

 

Result of Annual General Meeting held on Wednesday 16 September 2020

 

 

Henderson Alternative Strategies Trust plc announces that at the Annual General Meeting held earlier today, all resolutions were duly passed on a poll.

 

In addition, the Chairman announced at the Annual General Meeting that cash now forms 60% of the Company's portfolio (as at 11 September).  The Board is giving consideration as to how best to make an initial return of cash to shareholders and will make a further announcement on this in the near future. It should be noted that the investment manager is currently selling the Company's remaining liquid listed investments and has already made redemption requests in respect of its holding in funds with redemption rights. The investment manager expects the Company's cash level to rise to 70-75% by mid October 2020. The remaining portfolio, post the sale of liquid listed investments, will consist of funds without redemption rights and illiquid listed funds.  These amount, in aggregate, to c.20% of the current NAV. Your investment manager is actively exploring liquidity options.  There can, however, be no certainty as to the aggregate realisation proceeds which may be achieved for this remaining illiquid portfolio, or on the timeframe necessary to achieve a disposal.

 

The Board would like to thank the Fund Management team, who have worked hard to realise the Company's assets in line with the shareholder vote held at the beginning of July. 

 

Res'n

Description

Votes for (including discretionary)

%

Votes against

%

Total votes cast

Votes cast (excluding votes withheld) as a percentage of total voting rights

Votes withheld

1

Annual Report and Financial Statements

21,936,385

99.96

8,300

0.04

21,944,685

56.73%

198

2

Directors' Remuneration Policy

21,433,819

98.19

395,733

1.81

21,829,552

56.43%

115,331

3

Remuneration Policy

21,907,661

 

99.87

 

29,396

 

0.13

21,937,057

56.71%

7,826

4

Final Dividend

 

21,944,883

100.00

-

-

21,944,883

56.73%

-

5

Re-election of Richard Gubbins

20,285,242

92.50

1,643,583

7.50

21,928,825

56.69%

16,057

6

Re-election of Jamie Korner

21,485,472

97.97

444,998

2.03

21,930,470

56.69%

14,413

7

Re-election of Graham Oldroyd

21,483,828

97.97

444,998

2.03

21,928,825

56.69%

16,057

8

Re-appointment of Grant Thornton LLP as Auditor

21,931,313

99.94

13,570

0.06

21,944,883

56.73%

-

9

Authority for the Directors to Determine the Auditor's Remuneration

21,927,489

99.92

17,394

0.08

21,944,883

56.73%

-

10*

Authority to Allot Shares

21,891,765

99.83

38,129

0.17

21,929,894

56.69%

14,989

11*

Authority to Dis-Apply Pre-Emption Rights

21,891,585

99.79

46,654

0.21

21,938,239

56.71%

6,644

12*

Authority to Repurchase the Company's Shares

21,933,396

99.97

6,486

0.03

21,939,882

56.71%

5,000

13*

Authority to Call a General Meeting on 14 Days' Notice

21,739,069

99.06

205,814

0.94

21,944,883

56.73%

-

14*

Adopt new Articles of Association

19,802,587

90.26

2,136,227

9.74

21,938,814

56.71%

6,068

 

 

* Special resolution.

 

 

The full text of all the resolutions can be found in the Notice of Meeting, which is available for viewing at www.morningstar.co.uk/uk/nsm .

 

For the purposes of section 341 of the Companies Act 2006, the votes validly cast are expressed in the table above as a percentage of the Company's total voting rights as at 6.00 p.m. on 14 September 2020 (38,678,638), being the time at which a shareholder had to be registered in the register of members in order to vote at the General Meeting.  A vote "withheld" is not a vote in law and has not been counted as a vote "for" or "against" a resolution.

 

The number of ordinary shares in issue at the date of this announcement is 38,678,638. There are no shares held in treasury. Therefore, as at the date of this announcement the number of voting rights in the Company are 38,678,638.

 

A copy of the poll results will be available on the Company's website shortly at: www.hendersonalternativestrategies.com .

 

A copy of the resolutions will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection on the NSM's website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

For further information please contact:

 

Richard Gubbins  Alex Barr, Senior Portfolio Manager

Chairman  Janus Henderson Investors

020 7818 2025  020 7818 6585

 

James de Sausmarez  Laura Thomas

Head of Investment Trusts  Investment Trust PR Manager

Janus Henderson Investors  Janus Henderson Investors

020 7818 3349   020 7818 2636

 

Mark Bloomfield

Stifel Nicolaus Europe Limited

020 7710 7600

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