ADD Adv.Dev.Mkts

 
TIDMADD 
 
Advance Developing Markets Trust plc 
 
                   Result of Shareholder Meetings 
 
Annual General Meeting 
 
The Board is pleased to announce that at the Annual General Meeting 
held earlier today resolution 1 to 9 (inclusive) and resolution 11 
were passed by the appropriate majority on a show of hands. Full 
details of proxy voting on each of the resolutions passed are 
available on the Company's website at www.pro-asset.com and a summary 
of the proxy votes is given below: 
 
 
Resolution Business       Votes in     %     Votes     %     Votes 
                          favour*           against        withheld** 
    1      Adopt Report & 45,541,457 99.99       980  0.01      7,250 
           Accounts 
    2      Re-elect Mr    35,804,755 80.96 8,419,562 19.04  13,253,70 
           O'Connor 
    3      Re-elect Mr    35,742,198 78.98 9,511,702 21.02    295,787 
           Robinson 
    4      Re-elect Mr    35,742,198 81.00 8,382,419 19.00  1,425,070 
           Bonsor 
    5      Approve        45,549,687   100         -     -          - 
           dividend 
    6      Re-appoint     44,449,317 97.60 1,093,120  2.40      7,250 
           auditor 
    7      Directors'     44,445,640 97.59 1,095,817  2.41      8,230 
           Remuneration 
           Report 
    8      Authorise      45,548,707 99.99       980  0.01          - 
           market 
           purchases 
    9      Authorise      44,220,640 97.10 1,321,797  2.90      7,250 
           allotment of 
           shares 
    11     Approve 14 day 45,538,682 99.99     3,755  0.01      7,250 
           notice period 
 
 
* The "Votes in favour" include those votes giving the Chairman 
discretion 
** A 'Vote withheld' is not a vote in law and is not counted in the 
calculation of                the proportion of votes for or against 
a resolution 
 
In light of the number of proxy votes which were received against the 
passing of resolution 10 (authority  to allot shares out of  treasury 
up to the nominal value of 5  per cent of the issued share  capital), 
this resolution was withdrawn and not put to Shareholders at the AGM. 
 
Re-domicile proposals 
 
On 2 October 2009 the Board published a Circular setting out  details 
of a proposal to re-domicile the Company through a voluntary  winding 
up of the Company  and a rollover  of shareholders' interests into  a 
newly established  Guernsey  fund, Advance  Developing  Markets  Fund 
Limited ("ADMF"). 
 
Ordinary Shareholders' Meeting 
 
The Board is pleased to announce that the special resolution proposed 
to sanction any variation, modification, alteration or abrogation  of 
the special rights and privileges attaching to the Ordinary Shares to 
be effected by the approval  and implementation of the Proposals  was 
duly passed. The result of the  voting on the special resolution  was 
as follows: 
 
 
+-------------------------------------------------------------------+ 
| Votes in favour* |   %   | Votes against |  %   |      Votes      | 
|                  |       |               |      |   withheld**    | 
|------------------+-------+---------------+------+-----------------| 
|    42,455,203    | 97.24 |   1,203,426   | 2.76 |    1,569,508    | 
+-------------------------------------------------------------------+ 
 
 
* The "Votes in favour" include those votes giving the Chairman 
discretion 
** A 'Vote withheld' is not a vote in law and is not counted in the 
calculation of                the proportion of votes for or against 
a resolution 
 
First General Meeting 
 
The Board is  also pleased  to announce that  the special  resolution 
proposed to  amend  the Company's  Articles  of Association  for  the 
purposes of the Scheme, to  sanction the Liquidators' powers for  the 
purposes of the Scheme,  to approve the Scheme  and to authorise  its 
implementation by the Liquidators was duly passed. 
 
The result of the voting on the special resolution was as follows: 
 
 
+-------------------------------------------------------------------+ 
| Votes in favour* |   %   | Votes against |  %   |      Votes      | 
|                  |       |               |      |   withheld**    | 
|------------------+-------+---------------+------+-----------------| 
|    42,343,376    | 97.24 |   1,203,426   | 2.76 |    1,569,508    | 
+-------------------------------------------------------------------+ 
 
 
* The "Votes in favour" include those votes giving the Chairman 
discretion 
** A 'Vote withheld' is not a vote in law and is not counted in the 
calculation of                the proportion of votes for or against 
a resolution 
 
A Second  General  Meeting has  been  convened  at 12.00  p.m.  on  9 
November 2009 to  consider two  further special  resolutions: (i)  to 
wind up the Company voluntarily and appoint the Liquidators; and (ii) 
to authorise the Liquidators to exercise certain powers for which the 
express sanction  of  Ordinary  Shareholders is  required  under  the 
Insolvency Act 1986, such as paying classes of creditors in full. 
 
Capitalised terms used in this announcement have the same meaning  as 
in the  Circular dated  2 October  2009 unless  the context  requires 
otherwise. 
Under Listing Rule 9.6.2 copies of the resolutions passed relating to 
Special  Business  will  be  submitted  to  the  Financial   Services 
Authority and  will  shortly  be  available  for  inspection  at  the 
Document Viewing Facility situated at the following address: 
The Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London E14 5HS 
 
 
 
Enquiries: 
 
Cavendish Administration Limited                       020 7490 4355 
 
Arbuthnot Securities Limited                              020 7012 
2000 
Alastair Moreton 
Hannah Pearce 
 
=--END OF MESSAGE--- 
 
 
 
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

Adv.Dev.Mkts (LSE:ADD)
Historical Stock Chart
From Mar 2024 to Apr 2024

Adv.Dev.Mkts (LSE:ADD)
Historical Stock Chart
From Apr 2023 to Apr 2024