City Merchants High Yield Trust Limited
Result of AGM
Result of the Annual General Meeting of City Merchants High
Yield Trust Limited held on 13 June
2018:
All resolutions were put to shareholders at the Meeting and were
passed on a show of hands.
Proxy votes lodged with the Registrar in respect of each
resolution were as follows:
| Resolution |
Votes
For (including votes at the discretion of the Chairman |
|
Votes
Against |
|
Votes
Withheld |
| Ordinary
Resolution |
|
|
|
|
|
| 1 |
15,041,703 |
99.95% |
6,923 |
0.05% |
391,959 |
| 2 |
15,004,663 |
99.79% |
31,954 |
0.21% |
403,968 |
| 3 |
15,049,826 |
99.97% |
4,000 |
0.03% |
386,759 |
| 4 |
15,033,454 |
99.89% |
15,881 |
0.11% |
391,250 |
| 5 |
15,032,351 |
99.93% |
10,719 |
0.07% |
397,515 |
| 6 |
15,037,470 |
99.94% |
8,926 |
0.06% |
394,189 |
| 7 |
15,047,761 |
99.97% |
4,142 |
0.03% |
388,682 |
| Special
Resolution |
|
|
|
|
|
| 8 |
15,006,051 |
99.75% |
37,195 |
0.25% |
397,339 |
| 9 |
14,996,287 |
99.68% |
47,474 |
0.32% |
396,824 |
| 10 |
14,751,644 |
98.10% |
285,772 |
1.90% |
403,169 |
Total Voting Rights were 96,116,204.
The full text of the resolutions passed was as follows:
Ordinary Resolutions:
The following Ordinary Resolutions were passed at the Annual
General Meeting held on 13 June
2018:
1. To receive the Annual Financial Report for the year ended
31 December 2017.
2. To approve the Report on Directors’ Remuneration and
Interests.
3. To approve the Company’s Dividend Payment Policy to pay four
quarterly dividends to shareholders in May, August, November and
February in respect of each accounting year.
4. To re-appoint PricewaterhouseCoopers LLP as the Company’s
auditor and authorise the Audit Committee to determine their
remuneration.
5. To elect Mr Tim Scholefield a
Director of the Company.
6. To re-elect Mrs Winifred
Robbins a Director of the Company.
7. THAT, in accordance with Article 158 of the Company’s
Articles of Association, the Directors of the Company be and they
are hereby released from their obligation pursuant to such Article
to convene a general meeting of the Company within six months of
the AGM at which a special resolution would be proposed to wind up
the Company.
Special Resolutions:
8. THAT, pursuant to Article 14.1 of the Company’s
Articles of Association, the Directors be and are hereby empowered
to issue shares, up to 10% of the existing shares in issue at the
time of the AGM, without pre-emption.
9. THAT, pursuant to Article 8.2 of the
Company’s Articles of Association and Article 57 of the Companies
(Jersey) Law 1991 as amended (the Law), the Company be generally
and unconditionally authorised:
(a) to make purchases of its issued ordinary shares of no
par value (Shares) to be cancelled or held as treasury shares
provided that:
(i) the maximum number of Shares hereby authorised to be
purchased shall be 14.99%
of the Company’s issued ordinary shares, this being 14,407,818 on
the date of the Annual General Meeting;
(ii) the minimum price which may be paid for a Share is 1p;
(iii) the maximum price,
exclusive of expenses, which may be paid for a Share is an amount
equal to 105% of the average of the middle market quotations for a
Share taken from the London Stock Exchange Daily Official List for
the five business days immediately preceding the day on which the
Share is purchased; and
(iv) the authority hereby
conferred shall expire on the earlier of the conclusion of the next
AGM of the Company held after passing of this resolution or 15
months from the date of the passing of this resolution, whichever
is the earlier.
10. THAT, the period of notice required for general
meetings of the Company (other than AGMs) shall not be less than 14
days.
13 June 2018
Contact:
Hilary Jones
R&H Fund Services (Jersey) Limited
Telephone: 01534 825323