Africa Opportunity Fund Limited Result of EGM (7264D)

TIDMAOF

RNS Number : 7264D

Africa Opportunity Fund Limited

27 June 2019

27 June 2019

Africa Opportunity Fund Limited ("AOF" or the "Company")

Result of Extraordinary General Meeting

The Company is pleased to announce that at the Extraordinary General Meeting held at 9.00 a.m. (Cayman Islands Time) / 3.00 p.m. (British Summer Time) on 27 June 2019 the resolutions tabled were duly passed without amendment.

The details of voting on the resolutions are as follows:

 
                                    In favour           Against      Withheld**     Total 
                                    Votes        %*     Votes   %* 
                                   -----------  -----  ------  --- 
 Ordinary resolution 
  that the requirement 
  of the Company to propose 
  the realisation opportunity 
  be and is hereby waived.          47,142,476   100%   0       0%   0            47,142,476 
                                   -----------  -----  ------  ---  -----------  ----------- 
 Ordinary resolution 
  that the continuation 
  of the existence of 
  the Company be and 
  is hereby approved.               47,142,476   100%   0       0%   0            47,142,476 
                                   -----------  -----  ------  ---  -----------  ----------- 
 Special resolution 
  that the Company be 
  reorganised as follows: 
  (a) the text set out 
  under "New Investing 
  Policy" in paragraph 
  2 of Part III of the 
  Company's circular 
  to Shareholders dated 
  5 June 2019 (the "Circular") 
  be and is hereby adopted 
  as the new investment 
  policy of the Company; 
  (b) the terms of the 
  Amended and Restated 
  Investment Management 
  Agreement (as defined 
  in the Circular) be 
  and are hereby approved; 
  (c) the memorandum 
  and the articles of 
  association in the 
  form initialled by 
  the Chair of the meeting 
  be adopted as the memorandum 
  and articles of association 
  of the Company in substitution 
  for and to the exclusion 
  of the existing memorandum 
  and articles of association; 
  and 
  (d) any variation to 
  the rights attaching 
  to the Ordinary Shares 
  in the Company pursuant 
  to the adoption of 
  the new memorandum 
  and articles of association, 
  and in particular the 
  right for the Company 
  to redeem the Ordinary 
  Shares (including any 
  redemptions made of 
  15 per cent. or more 
  of the Company's issued 
  share capital), be 
  and is hereby approved.           47,142,476   100%   0       0%   0            47,142,476 
                                   -----------  -----  ------  ---  -----------  ----------- 
 

* Percentage of votes cast excludes withheld votes.

** "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of the votes "For" and "Against" a resolution and is not reflected in the total figures set out above.

Further to the approval of the changes to the Company's Articles to permit compulsory redemptions of the Company's shares at the Board's discretion as a way of returning capital to shareholders, additional detail will be laid out in a separate announcement with respect to this mechanism in due course.

For further information please contact:

Africa Opportunity Fund Limited

Francis Daniels

Tel: [phone]

Liberum (Corporate Broker)

Gillian Martin / Owen Matthews

Tel: [phone]

About Africa Opportunity Fund Limited:

Africa Opportunity Fund Limited ("AOF") is a closed-end investment company incorporated in the Cayman Islands and traded on the Specialist Fund Segment of the London Stock Exchange. For more information about AOF, see www.africaopportunityfund.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 27, 2019 12:20 ET (16:20 GMT)