Blue Capital Alternative Income Fd AGM results - Replacement (5106N)

TIDMBCAI

RNS Number : 5106N

Blue Capital Alternative Income Fd

09 May 2018

The headline for the Blue Capital announcement released on 9 May 2018 at 09:20 under RNS No 4888N should read AGM results.

The announcement text is unchanged and is reproduced in full below.

9 May 2018

Blue Capital Alternative Income Fund Limited (the "Company") (Ticker: "BCAI")

Results of Annual General Meeting

The board of directors of the Company (the "Board") announces the results of its Annual General Meeting of shareholders held on 8 May 2018. Each of the resolutions that were presented to shareholders was duly approved with the exception of the two special resolutions, which required the approval of not less than three-quarters of the votes cast by shareholders. The Board also notes that shareholders representing 39 per cent. of the ordinary shares voted against the continuation of the Company. In light of the results, the Board intends to recommend an orderly run-off of the Company at a Special General Meeting of Shareholders to be held at the earliest practicable date. The Manager will take into consideration the Board's recommendation with respect to an orderly run-off in conducting its business between now and the Special General Meeting of shareholders.

Details of the votes validly cast are set out below:

 
  Ordinary Resolutions                      For        Against      Vote 
                                                                  Withheld* 
======================================  ===========  ==========  ========== 
 1. Adoption of the audited 
  financial statements of the 
  Company for the year ended 
  31 December 2017                      132,078,195  14,908,656      0 
======================================  ===========  ==========  ========== 
 2. Setting of the size of 
  the Company's Board of Directors 
  at three (3) and authorization 
  to fill any vacancy on the 
  Board which may occur from 
  time to time as the Board 
  may see fit                           130,418,885  16,567,966      0 
======================================  ===========  ==========  ========== 
 3. Re-election of Mr. John 
  R. Weale                              103,963,861  43,022,990      0 
======================================  ===========  ==========  ========== 
 4. Re-election of Mr. Gregory 
  D. Haycock                            118,115,481  28,871,370      0 
======================================  ===========  ==========  ========== 
 5. Re-election of Mr. George 
  Cubbon                                118,115,481  28,871,370      0 
======================================  ===========  ==========  ========== 
 6. Appointment of Ernst & 
  Young Ltd., an independent 
  registered public accounting 
  firm, as the Company's independent 
  auditor for 2017 and authorisation 
  of the Company's Board of 
  Directors, acting by the Company's 
  Audit Committee, to set the 
  auditor's remuneration                132,078,195  14,908,656      0 
======================================  ===========  ==========  ========== 
  7. Authorisation to make market 
   acquisitions of up to a maximum 
   of 14.99% of the Ordinary 
   Shares in issue as at the 
   date of passing of this resolution   146,986,851      0            0 
======================================  ===========  ==========  ========== 
  8. Approval of the recommendation 
   of the Directors that the 
   Company continue as presently 
   constituted be and is hereby 
   accepted.                            78,181,396   68,805,455      0 
======================================  ===========  ==========  ========== 
 
   Special Resolutions 
======================================  ===========  ==========  ========== 
  1. Authorisation to exclude 
   the provisions of Bye-Law 
   14.1 of the Company's Bye-Laws 
   in relation to the issue of 
   up to an aggregate number 
   of Ordinary Shares as represents 
   10 per cent. of the number 
   of Ordinary Shares in issue 
   at the date of the passing 
   of this resolution                   96,802,598   50,184,253      0 
======================================  ===========  ==========  ========== 
  2. Authorisation to allow 
   the Directors to allot up 
   to 250 million New Shares 
   for cash as if Bye-law 14.1 
   of the Company's Bye-laws 
   does not apply in respect 
   of any such allotment provided 
   that power shall be limited 
   to the allotment of New Shares 
   under the 2018-2019 Placing 
   Programme                            88,191,396   58,795,455      0 
======================================  ===========  ==========  ========== 
 

The full text of the resolutions may be found in the Notice of Annual General Meeting dated 28 March 2018, which is included in the Company's Annual Report for the year ended 31 December 2017, a copy of which is available on the Company's website www.bcai.bm.

* A Vote Withheld is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution.

Contacts

For investor enquiries please contact:

 
Blue Capital Management Ltd. 
 Michael J. McGuire                        [phone] 
Email: [e-mail] 
 
Stifel Nicolaus Europe Limited             [phone] 
Neil Winward 
Mark Bloomfield 
Tunga Chigovanyika 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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May 09, 2018 06:30 ET (10:30 GMT)