TWENTYFOUR INCOME
FUND LIMITED
(a closed-ended
investment company incorporated in Guernsey with registration
number 56128)
(“the Company”)
Result of Annual
General Meeting
22 September 2016
At the Annual General Meeting (the “AGM”) of the Company held on
22 September 2016 at 9.30am, all resolutions set out in the AGM Notice
sent to shareholders were duly passed by a show of hands.
Details of the proxy voting results which should be read
alongside the Notice sent to shareholders on 19 August 2016 are noted below. A vote
withheld is not a vote in law and has not been counted in the votes
for and against a resolution.
Ordinary
Resolutions |
For |
Against |
Withheld |
1 |
182,286,777 |
118,572 |
0 |
2 |
169,827,479 |
12,577,870 |
0 |
3 |
182,395,349 |
10,000 |
0 |
4 |
169,817,479 |
12,587,870 |
0 |
5 |
182,395,349 |
10,000 |
0 |
6 |
182,358,899 |
46,450 |
0 |
7 |
182,395,349 |
10,000 |
0 |
8 |
182,405,349 |
0 |
0 |
9 |
182,369,749 |
10,000 |
25,600 |
10 |
182,167,382 |
212,367 |
25,600 |
At the same AGM noted above, the following Extraordinary
Resolution was also passed:
Extraordinary Resolution 1:
(161,070,292 in favour / 21,309,457
against / 25,600 abstain)
That, in addition to and without prejudice to any authority
currently in force, (and in addition to any power conferred on them
by ordinary resolution 9 above), the Directors be and are
authorised generally and unconditionally in accordance with Article
6.7 of the Articles to exercise all powers of the Company to issue
equity securities (as defined in Article 6.1(a)) for cash as if the
members’ pre-emption rights contained in Article 6.2 of the
Articles did not apply to any such issue pursuant to the general
authority conferred on them by the ordinary resolution numbered 8
above (as varied from time to time by the Company in general
meeting):
a) pursuant to an offer of equity securities open
for acceptance for a period fixed by the Directors where the equity
securities respectively attributable to the interests of holders of
Ordinary Shares are proportionate (as nearly as may be) to the
respective numbers of Ordinary Shares held by them but subject to
such exclusions or other arrangements in connection with the issue
as the Directors may consider necessary, appropriate or expedient
to deal with equity securities representing fractional entitlements
or to deal with legal or practical problems arising in any overseas
territory, the requirements of any regulatory body or stock
exchange, or any other matter whatsoever; and
b) provided that (otherwise than pursuant to
sub-paragraph (a) above) this power shall be limited to the
allotment of equity securities up to an aggregate nominal value
equal to 10% of the total number of shares in issue in the Company
at the date of the passing of this extraordinary resolution, and
provided further that (i) the number of equity securities to which
this power applies shall be reduced from time to time by the number
of treasury shares which are sold pursuant to any power conferred
on the Directors by resolution 10 above and
(ii) no issue of equity securities shall be made under this
power which would result in Ordinary Shares being issued at a price
which is less than the net asset value per Ordinary Share as at the
latest practicable date before such allotment of equity securities
as determined by the Directors in their reasonable discretion,
and such power hereby conferred shall expire on whichever is the
earlier of: (i) the conclusion of the annual general meeting of the
Company to be held in 2017; or (ii) the date 15 months after the
date on which this extraordinary resolution is passed (unless
renewed, varied or revoked by the Company prior to that date) save
that the Company may, before such expiry, make offers or agreements
which would or might require equity securities to be issued after
such expiry and the Directors may issue equity securities in
pursuance to such offers or agreements as if the authority
conferred hereby had not expired.
Enquiries:
Northern Trust International Fund Administration Services
(Guernsey) Limited
The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745189
END