Aberdeen Private Equity Fund Ltd Result of AGM (6980J)
September 13 2016 - 6:52AM
UK Regulatory
TIDMAPEF
RNS Number : 6980J
Aberdeen Private Equity Fund Ltd
13 September 2016
13 September 2016
Aberdeen Private Equity Fund Limited
Results of Annual General Meeting
At the Annual General Meeting held today, 13 September, the
Board of Aberdeen Private Equity Fund Limited announced the
following:
-- Going forward, in the absence of unforeseen circumstances,
the Company expects to pay minimum total dividends of 4p per share
per annum (2016 - 2.2p), commencing with 2 dividends of 2p per
share relating to the financial year to 31 March 2017
-- An annual continuation resolution to be put to each AGM, commencing with the AGM in 2017
-- A substantially reduced, and simplified, management fee*
The Board also noted that the good NAV performance referred to
in the Report and Accounts, had continued since the year end, with
a further rise of 7.5% in NAV per share to 29 July 2016 (143.32p
per share). The Board continues to remain optimistic on the
investment portfolio's ability to deliver long term investment
performance, and believes that, when combined with the increased
focus on co-investments, the changes announced above should enhance
the appeal of the Company to all Shareholders, both current and
prospective.
The Company also announces that all resolutions put to the
meeting were approved by Shareholders on a show of hands.
Details of the proxy votes lodged are set out below:
Ordinary Resolutions For** Against Withheld***
-------------------------------------- ----------- -------- ------------
1. To receive and adopt the
Financial Statements of the
Company for the year ended
31 March 2016 86,763,401 20,000 1,079
-------------------------------------- ----------- -------- ------------
2. To receive and adopt the
Directors' Remuneration Report 86,760,488 22,913 1,079
-------------------------------------- ----------- -------- ------------
3. To approve the payment of
a dividend of 2.2 pence per
share 86,746,188 37,213 1,079
-------------------------------------- ----------- -------- ------------
4. To re-elect Mr H Myles as
a Director 86,761,488 21,913 1,079
-------------------------------------- ----------- -------- ------------
5. To re-elect Mr P Hebson
as a Director 86,761,488 21,913 1,079
-------------------------------------- ----------- -------- ------------
6. To appoint PricewaterhouseCoopers
CI LLP as Auditors to the Company 68,057,765 25,560 18,701,155
-------------------------------------- ----------- -------- ------------
7. To approve that the Company
continue its business as a
closed-ended investment company 64,968,101 315,300 21,501,079
-------------------------------------- ----------- -------- ------------
Special Resolutions
-------------------------------------- ----------- -------- ------------
6. To authorise the Directors
to allot shares in the Company 86,509,401 270,000 5,079
-------------------------------------- ----------- -------- ------------
7. To authorise the Company
to make market purchases of
its own shares 86,741,188 42,213 1,079
-------------------------------------- ----------- -------- ------------
The full text of the resolutions may be found in the Notice of
Annual General Meeting contained in the Report and Accounts for the
year ended 31 March 2016, copies of which are available on both the
Company's website www.aberdeenprivateequity.co.uk and on the
National Storage Mechanism www.morningstar.co.uk/uk/NSM****
A copy 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
www.morningstar.co.uk/uk/NSM****
* Under the new management arrangement the Company will pay a
monthly fee equal to one twelfth of 0.9% of the NAV of the Company.
The performance fee will remain unchanged.
** Includes discretionary votes received
*** A vote withheld is not a vote in law and is not counted in
the proportion of votes 'for' or 'against' a resolution
**** Neither the NSM website nor the Company's website nor the
content of any website accessible from hyperlinks on those websites
(or any other website) is (or is deemed to be) incorporated into,
or forms (or is deemed to form) part of this announcement
Enquiries:
Company Secretary and Administrator
Ipes (Guernsey) Limited
Nicholas Robilliard
01481 713843
This information is provided by RNS
The company news service from the London Stock Exchange
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