Fair Oaks Income Limited Result of AGM (7055P)

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RNS Number : 7055P

Fair Oaks Income Limited

11 June 2020

Fair Oaks Income Limited

11 June 2020

FAIR OAKS INCOME LIMITED (the "Company")

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

RESULTS OF AGM

The Board of the Company is pleased to announce that, at the sixth Annual General Meeting of the Company held earlier today, the following proposed resolutions were approved by shareholders on a poll.

The number of Shares voted in person or by proxy on the resolutions, each of which was proposed as an ordinary resolution, was as follows.

1. THAT the Financial Statements of the Company for the year ended 31 December 2019 with the Report of the Directors and Auditors thereon be received and adopted.

295,018,628 votes were in favour of the resolution (100% of votes cast) and no votes were against. 20,000 votes were withheld.

   2.             THAT Claudio Albanese be re-elected as a Director of the Company. 

294,968,628 votes were in favour of the resolution (99.98% of votes cast) and 70,000 votes were against (0.02% of votes cast). No votes were withheld.

   3.             THAT Jonathan Bridel be re-elected as a Director of the Company. 

294,968,628 votes were in favour of the resolution (99.98% of votes cast) and 70,000 votes were against (0.02% of votes cast). No votes were withheld.

   4.             THAT Nigel Ward be re-elected as a Director of the Company. 

265,769,134 votes were in favour of the resolution (99.97% of votes cast) and 70,000 votes were against (0.03% of votes cast). 29,199,494 votes were withheld.

5. THAT KPMG Channel Islands Limited be re-appointed as Auditors of the Company for the year ended 31 December 20120.

266,814,220 votes were in favour of the resolution (100.00% of votes cast) and no votes were against. 28,224,408 votes were withheld.

6. THAT the Directors be authorised to fix the remuneration of the Auditors for their next period of office.

295,018,628 votes were in favour of the resolution (100.00% of votes cast) and no votes were against. 20,000 votes were withheld.

   7.             THAT the Company's dividend policy be approved. 

294,905,128 votes were in favour of the resolution (99.98% of votes cast) and 70,000 votes were against (0.02% of votes cast). 63,500 votes were withheld.

The following was proposed as a special resolution:

8. THAT that the Company be and is hereby generally and unconditionally authorised in accordance with Section 315 of The Companies (Guernsey) Law, 2008 (as amended) (the "Law") (subject to all applicable legislation and regulations) to make market acquisitions (as defined in the Law) of its 2017 Shares in issue.

295,018,628 votes were in favour of the resolution (99.99% of votes cast) and 20,000 votes were against (0.01% of votes cast). No votes were withheld.

The following were proposed as extraordinary resolutions:

9. THAT the Directors of the Company be and are hereby empowered to issue up to a maximum number

of 45 million 2017 Shares.

295,018,628 votes were in favour of the resolution (99.99% of votes cast) and 20,000 votes were against (0.01% of votes cast). No votes were withheld.

(Conditional on Resolution 9 being passed)

10. THAT the Directors of the Company be and are hereby empowered to issue up to a maximum number of a further 45 million 2017 Shares.

263,610,509 votes were in favour of the resolution (89.35% of votes cast) and 31,428,119 votes were against (10.65% of votes cast). No votes were withheld.

LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email: [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail]

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOMC II LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.

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June 11, 2020 07:56 ET (11:56 GMT)