Level 2

Company Announcements

Result of AGM

By LSE RNS

RNS Number : 1602G
Fundsmith Emerging Equities Tst PLC
24 May 2017
 

FUNDSMITH EMERGING EQUITIES TRUST plc

 

Results of the Annual General Meeting Held on 24 May 2017

 

The Board is pleased to announce that at the Annual General Meeting (AGM) held on Wednesday, 24 May 2017, all resolutions as detailed below were duly passed by shareholders on a show of hands.  The proxy voting figures are shown below:

 

Resolutions (Ordinary unless stated otherwise)

Votes For

%

Votes Against

%

Total Votes Cast

Votes

Withheld

Ordinary Business


1.     To receive and accept the Audited Financial Statements and the Report of the Directors for the year ended 31 December 2016

 

5,534,571

99.998

88

0.001

5,534,659

0

2.     To re-elect Martin Bralsford as a Director of the Company

 

5,512,221

99.59

22,438

0.41

5,534,659

0

3.     To re-elect David Potter as a Director of the Company

 

5,534,071

99.99

588

0.01

5,534,659

0

4.     To re-elect John Spencer as a Director of the Company

 

5,534,071

99.99

588

0.01

5,534,659

0

5.     To approve the Directors' Remuneration Report for the year ended 31 December 2016

 

5,532,450

99.97

1,509

0.03

5,533,959

700

6.     To re-appoint Deloitte LLP as Auditor to the Company and to authorise the Audit Committee to determine their remuneration

 

5,527,792

99.88

6,767

0.12

5,534,559

100

Special Business

 


7.     To authorise the Directors to allot securities in the Company up to an amount representing 10% of the issued share capital

 

5,523,671

99.85

8,488

0.15

5,532,159

2,500

8.     To authorise the Directors to allot securities in the Company up to an amount representing a further 15% of the issued share capital

 

 

5,521,777

99.83

9,182

0.17

5,530,959

3,700

9.     #To disapply the pre-emption rights in relation to the allotment of shares up to an amount representing 10% of the issued share capital

 

5,518,271

99.82

9,688

0.18

5,527,959

6,700

10.  #To dis-apply the pre-emption rights in relation to the allotment of shares up to an amount representing a further 15% of the issued share capital 

 

4,633,706

83.79

896,753

16.21

5,530,459

4,200

11.  #To authorise the Directors to sell Treasury Shares on a non-pre-emptive basis and at a narrower discount to the net asset value per share at which they are bought in.

 

5,488,709

99.17

45,850

0.83

5,534,559

100

12.  #To authorise the Company to make market purchases of Ordinary shares in the Company      

 

5,527,138

99.86

7,521

0.14

5,534,659

0

13.  #That the Directors be authorised to call general meetings (other than annual general meetings) on not less than 14 clear days' notice 

5,503,636

99.46

29,923

0.54

5,533,559

1,100

 

# - Special Resolution

 

The Board notes that 16.21% of the proxy votes submitted in respect of resolution 10 were voted against the resolution.  This authority grants the Board the authority to dis-apply pre-emption rights on the issue of a number of shares representing 15% of the issued share capital of the Company and is in addition to the authority conferred by resolution 9 which grants the same authority in respect of shares representing 10% of the issued share capital.  This additional authority has facilitated the smooth running of the Company's share issuance programme, allowing the Company to continue issuing shares without the need to hold additional general meetings during the year, which can be costly to shareholders.  Accordingly, the Board will continue to offer shareholders the opportunity to vote regarding the granting of this additional authority in order to facilitate the continued efficient and cost-effective administration of the share issuance programme.  The Board is pleased to note that the majority with which the resolution was passed has increased from the prior year.

 

Any proxy votes which are at the discretion of the Chairman have been included in the "for" total. A vote withheld is not a vote in law and is not counted in the calculations of votes cast by proxy.  At the date of the AGM the total number of Ordinary shares of 1p each in issue and the total number of voting rights was 23,937,556.

 

The proxy voting figures will shortly also be available on the Company's website at www.feetplc.co.uk  

 

In accordance with Listing Rule 9.6.2, the full text of the special business resolutions passed has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/nsm.  The special business resolutions will additionally be filed at Companies House.

 

24 May 2017

For further information please contact:

Katherine Manson              Frostrow Capital LLP - Company Secretary    0203 709 8734


This information is provided by RNS
The company news service from the London Stock Exchange
 
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