GCP Asset Backed Income Fund Ltd Result of AGM & EGM (0256A)

TIDMGABI TIDMGABC

RNS Number : 0256A

GCP Asset Backed Income Fund Ltd

23 May 2019

GCP Asset Backed Income Fund Limited

(the "Company" or "GCP Asset Backed")

LEI 213800FBBZCQMP73A815

Results of Annual General Meeting & Extraordinary General Meeting

GCP Asset Backed, which invests in asset backed loans, is pleased to announce that all resolutions put to the Annual General Meeting and the Extraordinary General Meeting held today, 23 May 2019, at the registered office of the Company were duly passed by the shareholders.

Total votes of 147,604,640 were cast at the Annual General Meeting. The results of the voting are set out below:

 
 Summary Resolutions*                        For          %       Against       %      Withheld 
 1. Ordinary Resolution: 
  THAT the report of the 
  directors and the audited 
  annual report and financial 
  statements of the Company 
  for the year ended 31 December 
  2018 be received and adopted.          147,604,640   100.00%       0        0.00%       0 
                                        ------------  --------  -----------  ------  ----------- 
 2. Ordinary Resolution: 
  THAT the Directors' remuneration 
  report for the year ended 
  31 December 2018 be approved.          132,177,310   100.00%       0        0.00%   15,427,330 
                                        ------------  --------  -----------  ------  ----------- 
 3. Ordinary Resolution: 
  THAT the Directors' remuneration 
  policy be approved.                    147,598,408   100.00%       0        0.00%     6,232 
                                        ------------  --------  -----------  ------  ----------- 
 4. Ordinary Resolution: 
  THAT Mr Alex Ohlsson be 
  re-elected as a Director 
  of the Company.                        132,843,810   90.18%    14,465,320   9.82%    295,510 
                                        ------------  --------  -----------  ------  ----------- 
 5. Ordinary Resolution: 
  THAT Mr Colin Huelin be 
  re-elected as a Director 
  of the Company.                        147,598,408   100.00%       0        0.00%     6,232 
                                        ------------  --------  -----------  ------  ----------- 
 6. Ordinary Resolution: 
  THAT Mrs Joanna Dentskevich 
  be re-elected as a Director 
  of the Company.                        142,781,363   99.94%      92,083     0.06%   4,731,194 
                                        ------------  --------  -----------  ------  ----------- 
 7. Ordinary Resolution: 
  THAT the Company's dividend 
  policy be approved.                    147,604,640   100.00%       0        0.00%       0 
                                        ------------  --------  -----------  ------  ----------- 
 8. Ordinary Resolution: 
  THAT PwC be re-appointed 
  as auditors of the Company.            147,602,684   99.99%      1,956      0.01%       0 
                                        ------------  --------  -----------  ------  ----------- 
      9. Ordinary Resolution: 
       THAT the Audit and Risk 
       Committee be authorised 
       to determine the remuneration 
       of PwC.                           147,604,640   100.00%       0        0.00%       0 
                                        ------------  --------  -----------  ------  ----------- 
      10. Ordinary Resolution: 
       THAT the Company be generally 
       and unconditionally authorised 
       to hold, cancel, sell or 
       transfer ordinary shares 
       purchased pursuant to the 
       authority granted under 
       resolution 11 as treasury 
       shares.                           147,599,742   99.99%      4,898      0.01%       0 
                                        ------------  --------  -----------  ------  ----------- 
 11. Special Resolution: 
  THAT the Directors be generally 
  and unconditionally authorised 
  to make market purchases 
  of up to 57,002,786 Ordinary 
  Shares.                                147,597,786   99.99%      6,854      0.01%       0 
                                        ------------  --------  -----------  ------  ----------- 
 12. Special Resolution: 
  THAT the Directors be authorised 
  to allot and issue up to 
  38,027,209 Ordinary Shares, 
  as if any pre-emption rights 
  conferred by the Artciles 
  did not apply.                         147,599,742   99.99%      4,898      0.01        0 
                                        ------------  --------  -----------  ------  ----------- 
 

Total votes of 147,474,297 were cast at the Extraordinary General Meeting. The results of the voting are set out below:

 
 Summary Resolutions*                    For         %      Against    %     Withheld 
 Special Resolution: THAT 
  in addition to Resolution 
  12 passed at the AGM (if 
  passed) the Directors be 
  and are hereby generally 
  and unconditionally authorised 
  to allot and issue an aggregate 
  of up to 38,027,029 Ordinary 
  Shares as if any pre-emption 
  rights conferred by the 
  Artciles did not apply.            147,464,642   99.99%    4,898    0.01    4,757 
                                    ------------  -------  --------  -----  --------- 
 

*The full text of the resolutions may be found in the notices of the Annual General Meeting and the Extraordinary General Meeting, copies of which are available on both the Company's website https://www.graviscapital.com/funds/gcp-asset-backed/literature and on the National Storage Mechanism www.morningstar.co.uk/uk/NSM.

In accordance with Listing Rule 9.6.2, the full text of the special resolutions passed at the Annual General Meeting and the Extraordinary General Meeting has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

For further information please contact:

 
Gravis Capital Management Limited [phone] 
David Conlon 
Dion Di Miceli 
 
Cenkos Securities plc        [phone] 
Tom Scrivens 
Oliver Packard 
Sapna Shah 
 
Buchanan/Quill                        [phone] 
Helen Tarbet 
Nick Croysdill 
 Henry Wilson 
 

Notes to Editors

The Company

GCP Asset Backed is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.

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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May 23, 2019 08:30 ET (12:30 GMT)