SQN Asset Finance Income Fund Ltd Result of AGM and Class Meetings (9492H)
November 20 2018 - 10:43AM
UK Regulatory
TIDMSQN
RNS Number : 9492H
SQN Asset Finance Income Fund Ltd
20 November 2018
20 November 2018
SQN Asset Finance Income Fund Limited
Result of Annual General Meeting and Class Meetings
SQN Asset Finance Income Fund Limited is pleased to announce
that at the Annual General Meeting held at 14.00hrs GMT today and
the C Shares Class Meeting at 14.20hrs GMT today all of the
resolutions proposed at the meetings were duly passed.
In respect of the Ordinary Share Class Meeting at 14.10hrs GMT
today, all resolutions with the exception of Resolution 3 were also
passed.
The Board notes the votes against Resolution 5 of the Annual
General Meeting (the re-election of Paul Meader as a Director of
the Company) for a total of 46,710,045 shares representing 24.06%
of those shares voting and 9.41% of the issued share capital. Mr
Meader was appointed as a Director in August 2017 and has since
made a significant contribution to the Board. The Company will
consult with its shareholders to understand and seek to address any
concerns they may have.
In addition, the Board notes the votes against Resolution 3 of
the Ordinary Share Class Meeting (the authority to issue up to 10%
of the Company's issued ordinary share capital, in addition to the
authority sought pursuant to Resolution 2) for a total of
75,846,137 ordinary shares representing 55.07% of those ordinary
shares voting and 21.20% per cent of the issued ordinary share
capital. Resolution 3 was proposed to provide the Company with
additional flexibility to issue ordinary shares at a premium to net
asset value where demand exceeds supply aligning the Company's
issuance authority with the Prospectus Rules. The Board believes
that the votes against Resolution 3 relate to the fact that
shareholder advisory groups recommend that issuance authority be
limited to 10% (which was approved by shareholders pursuant to
Resolution 2). The Company will consult with its shareholders in
relation to any future general issuance authority.
Further information on the votes cast on each resolution will be
available on the Company's website shortly.
For further information please contact:
BNP Paribas Securities Services S.C.A. Guernsey Branch
Sharon A Williams
Telephone: 01481 750850
Winterflood Securities Limited
Neil Langford
Chris Mills
Telephone: 020 3100 0000
Buchanan Communications Limited
Charles Ryland
Telephone: 020 7466 5000
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END
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