Macau Property Opportunities Fund Result of AGM (0604H)

TIDMMPO

RNS Number : 0604H

Macau Property Opportunities Fund

12 November 2018

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

12 November 2018

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 10.00 am on 12 November 2018, each of the Resolutions tabled were duly passed without amendment.

The details of each resolution are as follows:

 
 Resolution                                                For / Discretion   % of    Against     % of    Withheld 
                                                                               Vote                Vote 
 Ordinary business 
                                                          -----------------  ------  ----------  ------  --------- 
  1. To receive and adopt the 
   audited accounts, the Directors' 
   Report, and the Auditor's 
   Report for the year ended 
   30 June 2018.                                              37,355,672      99.95    17,479     0.05     3,440 
                                                          -----------------  ------  ----------  ------  --------- 
  2. To approve the Directors' 
   Remuneration Report for the 
   year ended 30 June 2018.                                   37,330,527      99.88    46,064     0.12       0 
                                                          -----------------  ------  ----------  ------  --------- 
  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.                            37,359,064      99.96    14,087     0.04     3,440 
                                                          -----------------  ------  ----------  ------  --------- 
  4. To authorise the Directors 
   to determine the remuneration 
   of Ernst & Young LLP.                                      36,238,538      96.96   1,138,053   3.04       0 
                                                          -----------------  ------  ----------  ------  --------- 
  5. To re-appoint Mark Huntley, 
   who retires as a Director 
   of the Company, in accordance 
   with Article 20.6 of the 
   Articles of Incorporation 
   of the Company.                                            36,212,094      96.88   1,164,497   3.12       0 
                                                          -----------------  ------  ----------  ------  --------- 
  6. To re-appoint Alan Clifton, 
   who retires as a Director 
   of the Company, in accordance 
   with the AIC Code.                                         35,892,217      96.03   1,484,374   3.97       0 
                                                          -----------------  ------  ----------  ------  --------- 
  7. 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.                                              33,632,514      89.98   3,744,077   10.02      0 
                                                          -----------------  ------  ----------  ------  --------- 
 Special business 
                                                          -----------------  ------  ----------  ------  --------- 
                     8. 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 9,269,176 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.          37,373,152      99.99     3,440     0.01       0 
                                                          -----------------  ------  ----------  ------  --------- 
 

Directorate Change

Following the AGM, Mr. Russell retired from the Board with immediate effect and Mr. Huntley has succeeded Mr. Russell as Chairman of the Board. The Company wishes to thank Mr. Russell for his contribution during his Chairmanship.

--Ends--

About Macau Property Opportunities Fund

Premium listed on the London Stock Exchange, 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.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises luxury residential 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

Tel: [phone]

[e-mail]

www.snipercapital.com

Corporate Broker

Liberum Capital

Gillian Martin

Tel: [phone]

Company Secretary & Administrator

Estera International Fund Managers (Guernsey) Limited

Kevin Smith

Tel: [phone]

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November 12, 2018 06:00 ET (11:00 GMT)