Chenavari Toro Income Fund Limited Result of General Meeting (9159P)

TIDMTORO

RNS Number : 9159P

Chenavari Toro Income Fund Limited

31 May 2018

Chenavari Toro Income Fund Limited (the Company)

31 May 2018

At the General Meeting of the Company on 31 May 2018, the proposed resolution was duly approved by the shareholders.

Details of the proxy votes lodged are set out below:

 
 Resolution 1                          For       Against   At Discretion   Withheld 
--------------------------------  ------------  --------  --------------  --------- 
 That the Company 
  be and is hereby 
  generally and unconditionally 
  authorised, in accordance 
  with Article 8.1 
  of its Articles 
  of Incorporation 
  and Section 315 
  of the Companies 
  (Guernsey) Law, 
  2008 (Law), to make 
  market acquisitions 
  (as defined in the 
  Law) of ordinary 
  shares in the capital 
  of the Company (Shares) 
  provided that: 
 
  a) the maximum number 
  of Shares hereby 
  authorised to be 
  purchased is 49,001,894 
  Shares, or such 
  other number of 
  Shares that is equal 
  to 14.99 per cent. 
  of the issued share 
  capital of the Company 
  (excluding treasury 
  shares) on 30 April 
  2018; 
 
  b) the minimum price 
  (exclusive of expenses) 
  which may be paid 
  for a Share shall 
  be GBP0.01; 
 
  c) the maximum price 
  (exclusive of expenses) 
  which may be paid 
  for a Share shall 
  be an amount equal 
  to the higher of: 
  (i) 105 per cent. 
  of the average of 
  the middle market 
  quotations for a 
  Share (as published 
  by the London Stock 
  Exchange) for the 
  five trading days 
  immediately preceding 
  the day on which 
  the Share is contracted 
  to be purchased; 
  and (ii) the amount 
  stipulated by Article 
  5(1) of the Buy-back 
  and Stabilisation 
  Regulation 2003; 
 
  d) the authority 
  hereby conferred 
  shall expire at 
  the Annual General 
  Meeting of the Company 
  in 2019, unless 
  such authority is 
  renewed, varied 
  or revoked prior 
  to such time; 
 
  e) the Company may 
  make a contract 
  to purchase Shares 
  under the authority 
  hereby conferred 
  prior to the expiry 
  of such authority 
  which will or may 
  be executed wholly 
  or partly after 
  the expiration of 
  such authority and 
  may make an acquisition 
  of Shares pursuant 
  to any such contract; 
  and 
 
  f) any Shares bought 
  back may be held 
  in treasury in accordance 
  with the Law or 
  be subsequently 
  cancelled by the 
  Company.                         149,305,587      0            0            0 
--------------------------------  ------------  --------  --------------  --------- 
 

Further information in relation to the Company is available at:

http://www.chenavaritoroincomefund.com

Enquiries:

Kirstie Sumarno

Chenavari Investment Managers

Email: [e-mail]

Telephone: [phone]

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May 31, 2018 12:45 ET (16:45 GMT)