20 February 2020
HIGHBRIDGE TACTICAL CREDIT FUND LIMITED
(the "Company")
Result of Extraordinary General Meeting
The Board announces that, at the Extraordinary General Meeting ("EGM") of the Company held at 9:30 a.m. today, all the resolutions set out in the Notice of EGM dated 31 January 2020, were duly passed. The Board is pleased to note that 58.34% of the shares outstanding voted.
Vic Holmes, Chairman of HTCF, commented: "We are pleased that shareholders have approved the Board's proposals and we look forward to updating the market in due course as we seek to grow the Company in the coming year."
Proxy votes received for and against the resolutions and the number of votes withheld, were as follows:
Special Resolution |
For (See Note 1) |
Against (See Note 1) |
Votes
Withheld (See Note 2) |
Total Votes Cast |
Votes
For |
% |
Votes
Against |
% |
1 |
To disapply pre-emption rights on the issue of ordinary shares up to a number not exceeding the lesser of 4,618,706 Shares or such number as shall represent 20 per cent. of the Company's issued share capital (excluding any shares held in treasury) |
12,334,270 |
91.54 |
1,139,359 |
8.46 |
11,155 |
13,473,629 |
2 |
To disapply pre-emption rights on the issue of ordinary shares up to a number not exceeding the lesser of 23,093,530 Shares or such number as shall represent 100 per cent. of the Company's issued share capital (excluding any shares held in treasury) and shall only apply in respect of Shares issued pursuant to a placing carried out under the proposed Placing Programme |
10,542,222 |
78.24 |
2,931,407 |
21.76 |
11,155 |
13,473,629 |
Notes:
1. "Votes For" includes those giving the Chairman discretion and votes "For" and "Against" are expressed as a percentage of votes received.
2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution.
3. All figures have been rounded up to 2 decimal places.
The Company notes that a significant number of votes were cast against special resolution 2. The Company, through their corporate brokers, will engage with the relevant shareholders shortly and, in accordance with the UK Corporate Governance Code 2018, expects to provide an update on this consultation process within six months.
In accordance with Listing Rule 9.6.2R a copy of the resolutions has been submitted to the National Storage Mechanism, and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM
The Circular is available on the Company's website: www.highbridgemsfltd.co.uk.
For further information contact:
finnCap Ltd William Marle / Giles Rolls |
Tel: +44 (0) 20 7220 0500 |
Praxis Fund Services Limited Company Secretary |
Tel: +44 (0) 1481 737 600 |
LEI: 213800397SYHLYFH5961