DP Aircraft I Limited Result of AGM (6977S)

TIDMDPA

RNS Number : 6977S

DP Aircraft I Limited

10 July 2020

 
                                           D P AIRCRAFT I LIMITED ('the Company') 
                                          RESULTS OF ANNUAL GENERAL MEETING ('AGM') 
 The Board of the Company is pleased to announce that all of the resolutions 
  put to shareholders at the AGM held on 10 July 2020 were passed. The 
  details of each such resolution are as follows: 
 1.           THAT the Annual Report and Audited Consolidated Financial 
 ORDINARY      Statements of the Company for the year ended 31 December 
 RESOLUTION    2019 together with the Reports of the Directors and Auditors 
               thereon be received and adopted. 
                99.43%   Those in favour of the resolution   130,961,701 
                0.57%    Those against the resolution        750,000 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      0 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 1 be and is hereby passed. 
 2.           THAT Jonathan Bridel be and is hereby re-elected as a 
 ORDINARY      director of the Company. 99.99%   Those in favour of the resolution   131,699,992 
 RESOLUTION     0.01%    Those against the resolution        11,709 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      0 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 2 be and is hereby passed. 
 3.           THAT Harald Brauns be and is hereby elected as a director 
 ORDINARY      of the Company. 99.99%   Those in favour of the resolution   131,704,043 
 RESOLUTION     0.01%    Those against the resolution        7,658 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      0 
                        ----------------------------------  ------------ 
 
               IT WAS RESOLVED THAT Resolution 3 be and is hereby passed. 
 4.           THAT the appointment of KPMG Chartered Accountants, Statutory 
 ORDINARY      Audit Firm as Auditors of the Company for the year ending 
 RESOLUTION    31 December 2020 be and is hereby approved and that the 
               Directors be authorised to fix their remuneration. 
                99.33%   Those in favour of the resolution   113,149,676 
                0.67%    Those against the resolution        757,658 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      17,804,367 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 4 be and is hereby passed. 
 5.           TO approve the Directors' remuneration report as set out 
 ORDINARY      in the 2019 Annual Report (excluding the Directors' Remuneration 
 RESOLUTION    Policy), including the proposed annual remuneration of 
               each Director, proposed to take effect from 1 April 2020, 
               for routine business of the Company. 
                87.15%   Those in favour of the resolution   114,788,292 
                12.85%   Those against the resolution        16,923,409 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      0 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 5 be and is hereby passed. 
 6.           TO approve the Directors' Remuneration Policy for the 
 ORDINARY      year ending 31 December 2020 as set out on page 28 of 
 RESOLUTION    the 2019 Annual Report. 
                99.43%   Those in favour of the resolution   130,955,292 
                0.57%    Those against the resolution        756,409 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      0 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 6 be and is hereby passed. 
 7.           TO approve the dividend policy of the Company as set out 
 ORDINARY      on page 3 of the 2019 Annual Report. 
 RESOLUTION     100%   Those in favour of the resolution   131,711,701 
                       Those against the resolution        0 
                      ----------------------------------  ------------ 
                       Those withheld and not counted      0 
                      ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT R esolution 7 be and is hereby passed. 
 8.           THAT the Directors be and are hereby authorised to allot 
 ORDINARY      and issue (or sell out of treasury) ordinary shares of 
 RESOLUTION    no par value in the Company ("Ordinary Shares") up to 
               an aggregate amount not exceeding 10 per cent. of the 
               Ordinary Shares in issue immediately following the passing 
               of this resolution at a price which is less than the net 
               asset value per Ordinary Share as at the latest practicable 
               date before the allotment of such Ordinary Shares. This 
               authority shall expire on the date falling 15 months after 
               the date of passing this resolution or the conclusion 
               of the next annual general meeting of the Company whichever 
               is the earlier (save that the Company may at any time 
               before such expiry make an offer or agreement which might 
               require Ordinary Shares to be allotted or issued after 
               such expiry and the Directors may allot and issue Ordinary 
               Shares after such expiry in pursuance of such offer or 
               agreement as if the authority conferred hereby had not 
               expired). 90.13%   Those in favour of the resolution   114,402,423 
                9.87%    Those against the resolution        12,523,022 
                        ----------------------------------  ------------ 
                         Those withheld and not counted      4,786,256 
                        ----------------------------------  ------------ 
 
 
               IT WAS RESOLVED THAT Resolution 8 be and is hereby passed. 
 9.           THAT subject to the passing of Resolution 8 above and 
 ORDINARY      in addition to the authority granted thereby, the Directors 
 RESOLUTION    be and are hereby authorised to allot and issue (or sell 
               out of treasury) a further 10 per cent. of the Ordinary 
               Shares in issue immediately following the passing of this 
               resolution at a price which is less than the net asset 
               value per Ordinary Share as at the latest practicable 
               date before the allotment of such Ordinary Shares. This 
               authority shall expire on the date falling 15 months after 
               the date of passing this resolution or the conclusion 
               of the next annual general meeting of the Company whichever 
               is earlier (save that the Company may at any time before 
               such expiry make an offer or agreement which might require 
               Ordinary Shares to be allotted or issued after such expiry 
               and the Directors may allot and issue Ordinary Shares 
               after such expiry in pursuance of such offer or agreement 
               as if the authority conferred hereby had not expired). 76.1%   Those in favour of the resolution   96,598,056 
                23.9%   Those against the resolution        30,327,389 
                       ----------------------------------  ----------- 
                        Those withheld and not counted      4,786,256 
                       ----------------------------------  ----------- 
 
 
               IT WAS RESOLVED THAT Resolution 9 be and is hereby passed. 
 

The Board notes that votes representing 23.9% of total votes cast were received against resolution 9.

The Company is expected to have sufficient liquidity to manage its affairs over the coming months, however the Board wishes to keep all options open regarding ongoing liquidity management as a matter of prudence.

The Company will seek to engage with the relevant shareholders who voted against resolution 9 in order to understand further the reasons for their votes and address their concerns.

For further information please contact:

Aztec Financial Services (Guernsey) Limited, Company Secretary

Kellie Blondel / Laura Dunning

[phone]

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July 10, 2020 07:58 ET (11:58 GMT)