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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Adv.Dev.Mkts | LSE:ADD | London | Ordinary Share | GB0001674992 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 382.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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to allot shares out of treasury up to the nominal value of 5 per cent of the issued share capital), this resolution was withdrawn and not put to Shareholders at the AGM.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.
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