Aberdeen Standard Asia Focus PLC (the "Company")
Legal Entity Identifier (LEI): 5493000FBZP1J92OQY70
RESULT OF ANNUAL GENERAL MEETING
5 December 2019
At the Annual General Meeting of the Company held on 4 December 2019, all resolutions in the Notice of Meeting were passed on a show of hands.
In relation to Resolution 13 (authority to disapply pre-emption rights), 10.0 per cent. of the Company's issued share capital equates to 3,340,684 Ordinary shares as at today's date. In relation to Resolution 14 (authority to purchase shares for cancellation or treasury), 14.99 per cent. of the Company's issued share capital equates to 5,007,686 Ordinary shares as at today's date.
The total number of proxy votes lodged was as follows:
|
Resolution |
Votes For |
% For |
Votes Against |
% Against |
Discretionary |
Votes For & Discretionary |
Total Votes Cast (Excluding Withheld) |
Votes Withheld |
01 |
Reports and Accounts |
16,395,477 |
100.00% |
370 |
0.00% |
317 |
16,395,794 |
16,396,164 |
5,414 |
02 |
Remuneration Report |
16,333,374 |
99.76% |
38,424 |
0.23% |
317 |
16,333,691 |
16,372,115 |
29,464 |
03 |
Final Dividend |
16,398,248 |
100.00% |
67 |
0.00% |
317 |
16,398,565 |
16,398,632 |
2,946 |
04 |
Special Dividend |
16,395,606 |
100.00% |
67 |
0.00% |
317 |
16,395,923 |
16,395,990 |
5,588 |
05 |
Mr N.K. Cayzer |
16,062,439 |
98.74% |
204,501 |
1.26% |
317 |
16,062,756 |
16,267,257 |
134,321 |
06 |
Mr M.J. Gilbert |
11,236,300 |
69.04% |
5,038,469 |
30.96% |
317 |
11,236,617 |
16,275,086 |
126,493 |
07 |
Ms H. Fukuda |
16,175,798 |
98.80% |
195,858 |
1.20% |
317 |
16,176,115 |
16,371,973 |
29,605 |
08 |
Viscount Dunluce |
16,179,578 |
98.82% |
192,742 |
1.18% |
317 |
16,179,895 |
16,372,637 |
28,941 |
09 |
Ms C. Black |
16,363,147 |
99.95% |
7,763 |
0.05% |
317 |
16,363,464 |
16,371,227 |
30,352 |
10 |
Ms D. Guthrie |
16,363,555 |
99.93% |
11,182 |
0.07% |
317 |
16,363,872 |
16,375,054 |
26,524 |
11 |
Reappoint Auditors |
15,495,392 |
94.71% |
865,464 |
5.29% |
317 |
15,495,709 |
16,361,173 |
40,406 |
12 |
Allot Shares |
16,370,359 |
99.91% |
14,065 |
0.09% |
317 |
16,370,676 |
16,384,741 |
16,838 |
13 |
Pre-emption Rights |
16,286,797 |
99.43% |
92,333 |
0.56% |
317 |
16,287,114 |
16,379,447 |
22,133 |
14 |
Purchase Own Shares |
16,305,891 |
99.45% |
89,801 |
0.55% |
317 |
16,306,208 |
16,396,009 |
5,570 |
15 |
Short Notice GM's |
16,199,496 |
98.91% |
178,996 |
1.09% |
317 |
16,199,813 |
16,378,809 |
22,769 |
The Board has noted that shareholder proxies representing 31% of the issued capital voted against the annual re-election of Mr Gilbert at the AGM held on 4 December 2019. The Board notes the substantial support received from the shareholders with proxies representing 69% having voted in favour of Mr Gilbert's re-election and unanimous support from the shareholders in attendance at the AGM. Mr Gilbert is a non-independent Director and the Board has a rigorous procedure in place to ensure that only independent Directors are permitted to be present when any matters relating to the Manager are discussed and this process is enforced strictly. Mr Gilbert, or his Alternate Mr Young, have attended all of the five scheduled Board meetings in the year to 31 July 2019 and there are no issues relating to either Mr Gilbert or his Alternate not having sufficient time to dedicate to the Company. Furthermore, Mr Gilbert has recently announced that he will not seek re-election to the board of Standard Life Aberdeen plc at its Annual General Meeting, scheduled for 12 May 2020, and that he will retire from Standard Life Aberdeen plc on 30 September 2020. The Board has a healthy mix of longer serving and more recently appointed Directors and the experience of the longer serving Directors has served the Company well through the investment cycles of the last 24 years and is valued by the Board as a whole.
PASSING OF RESOLUTIONS UNDER SPECIAL BUSINESS
A copy of the resolutions passed under special business will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM*.
*Neither the NSM website nor the content of any website accessible from hyperlinks on the NSM website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
For Aberdeen Asset Management PLC - Secretaries
5 December 2019