Macau Property Opportunities Fund Result of AGM (9550V)

TIDMMPO

RNS Number : 9550V

Macau Property Opportunities Fund

08 November 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

8 November 2017

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Results of Annual General Meeting

The Company is pleased to announce that at the Annual General Meeting held at 2.30 p.m. on 8 November 2017, each of the Resolutions tabled were duly passed without amendment.

The details of each resolution are as follows:

 
 Resolution                                         Votes            % of     Against     % of    Withheld   % of 
                                                     For /            Vote                 Vote               Vote 
                                                     Discretionary 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
 Ordinary business 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  1. To receive and 
   adopt the audited 
   accounts, the Directors' 
   Report, and the Auditor's 
   Report for the year 
   ended 30 June 2017.                                57,482,091      100%        0       0.00%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  2. To approve the 
   Directors' Remuneration 
   Report for the year 
   ended 30 June 2017.                                57,477,839     99.99%     4,252     0.01%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  3. To re-appoint Ernst 
   & Young LLP, who have 
   indicated their willingness 
   to act, as auditors 
   of the Company to 
   hold office until 
   the conclusion of 
   the next Annual General 
   Meeting of the Company.                            57,401,879     99.92%    43,200     0.07%    37,012    0.01% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  4. To authorise the 
   Directors to determine 
   the remuneration of 
   Ernst & Young LLP.                                 57,460,245     99.96%    21,846     0.04%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  5. To re-appoint Christopher 
   Russell, who retires 
   as a Director of the 
   Company, in accordance 
   with Article 20.3 
   of the Articles of 
   Incorporation of the 
   Company (the "Articles").                          57,427,485     99.91%    54,606     0.09%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  6. To re-appoint Wilfred 
   Woo, who retires as 
   a Director of the 
   Company, in accordance 
   with Article 20.3 
   of the Articles.                                   57,482,091      100%        0       0.00%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  7. To re-appoint Alan 
   Clifton, who retires 
   as a Director of the 
   Company, in accordance 
   with the AIC Code.                                 57,161,329     99.44%    44,406     0.08%   276,356    0.48% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
  8. To re-appoint Thomas 
   Ashworth, who retires 
   as a Director of the 
   Company, in accordance 
   with the AIC Code 
   and UKLA Listing Rules 
   15.2.12A(1) and 15.2.13A.                          56,438,246     98.18%   1,043,845   1.82%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
 Special business 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
                     9. That the Company 
                      in accordance with 
                      Section 315 of The 
                      Companies (Guernsey) 
                      Law, 2008 (as amended) 
                      (the "Law") be approved 
                      to make market purchases 
                      (as defined in Section 
                      316 of the Law) of 
                      its own ordinary shares 
                      either for retention 
                      as treasury shares 
                      or for cancellation, 
                      provided that: 
 
                      (i) the maximum number 
                      of ordinary shares 
                      authorised to be purchased 
                      is the lower of 11,457,301 
                      ordinary shares and 
                      14.99 per cent of 
                      the ordinary shares 
                      in issue immediately 
                      following the passing 
                      of this resolution; 
 
                      (ii) the minimum price 
                      which may be paid 
                      for an ordinary share 
                      is GBP0.01; 
 
                      (iii) the maximum 
                      price which may be 
                      paid for an ordinary 
                      share is an amount 
                      equal to the higher 
                      of: (a) 105 percent 
                      of the average of 
                      the middle market 
                      quotations for an 
                      ordinary share as 
                      derived from the London 
                      Stock Exchange Daily 
                      Official List for 
                      the five Business 
                      Days immediately preceding 
                      the day on which that 
                      ordinary share is 
                      purchased; and (b) 
                      either the higher 
                      of the price of the 
                      last independent trade 
                      and the highest current 
                      independent bid at 
                      the time of purchase; 
 
                      (iv) subject to paragraph 
                      (v) below, such authority 
                      shall expire at the 
                      next annual general 
                      meeting of the Company 
                      unless such authority 
                      is varied, revoked 
                      or renewed prior to 
                      such date by a special 
                      resolution of the 
                      Company in general 
                      meeting; 
 
                      (v) notwithstanding 
                      paragraph (iv), the 
                      Company may make a 
                      contract to purchase 
                      ordinary shares under 
                      such authority prior 
                      to its expiry which 
                      will or may be executed 
                      wholly or partly after 
                      its expiration and 
                      the Company may make 
                      a purchase of ordinary 
                      shares pursuant to 
                      any such contract.              57,477,839     99.99%     4,252     0.01%      0       0.00% 
-------------------------------------------------  ---------------  -------  ----------  ------  ---------  ------ 
 

In accordance with Listing Rule 9.6.2, copies of the resolutions (other than those comprising the ordinary business of the Annual General Meeting) have been sent to the National Storage Mechanism.

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey and is the only quoted property fund dedicated to investing in Macau, the world's largest gaming market and the only city in China where gaming is legalised.

Premium listed on the London Stock Exchange, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises a mix of prime residential and retail property assets.

The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory.

Stock Code

London Stock Exchange: MPO

LEI

213800NOAO11OWIMLR72

For further information

Investor Relations

Sniper Capital Limited

Doris Boo

Tel: [phone]

[e-mail]

www.snipercapital.com

Corporate Broker

Liberum Capital

Richard Bootle / Jonathan Wilkes-Green / Henry Freeman

Tel: [phone]

Company Secretary & Administrator

Heritage International Fund Managers

Kevin Smith

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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November 08, 2017 11:00 ET (16:00 GMT)