Sequoia Economic Infra Inc Fd Ld Result of AGM (0764Y)

TIDMSEQI

RNS Number : 0764Y

Sequoia Economic Infra Inc Fd Ld

16 August 2018

16 August 2018

Sequoia Economic Infrastructure Income Fund Limited

("SEQI" or the "Company")

Result of Annual General Meeting

The board of SEQI, the specialist investor in economic infrastructure debt, is pleased to announce that, at the Annual General Meeting of the Company held earlier today, all of the 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 March 2018 with the Report of the Directors and Auditors thereon be received and adopted.

541,116,803 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 20,098,422 votes were withheld.

2. THAT the Directors' Remuneration Report for the year ended 31 March 2018 be approved.

521,468,480 votes were in favour of the resolution (99.98% of votes cast) and 91,730 votes were against (0.02% of votes cast). 39,663,013 votes were withheld.

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

519,895,739 votes were in favour of the resolution (96.08% of votes cast) and 21,226,973 votes were against (3.92% of votes cast). 20,100,512 votes were withheld.

   4.             THAT Jan Pethick be re-elected as a Director of the Company. 

541,114,713 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 20,100,512 votes were withheld.

   5.             THAT Robert Jennings be re-elected as a Director of the Company. 

541,068,881 votes were in favour of the resolution (99.99% of votes cast) and 53,831 votes were against (0.01% of votes cast). 20,100,512 votes were withheld.

   6.             THAT Sandra Platts be re-elected as a Director of the Company. 

541,114,713 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 20,100,512 votes were withheld.

7. THAT KPMG Channel Islands Limited be re-appointed as Auditors of the Company for the year ended 31 March 2019.

521,581,926 votes were in favour of the resolution (100.00% of votes cast) and 9,000 votes were against (0.00% of votes cast). 39,632,298 votes were withheld.

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

541,116,803 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 20,098,422 votes were withheld.

9. THAT the Company's dividend policy, set out in the prospectus published by the Company on 3 May 2017, be approved.

541,116,803 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 20,098,422 votes were withheld.

   10.          THAT the Company continues its business as a closed-ended investment company. 

561,212,225 votes were in favour of the resolution (100.00% of votes cast) and 8,000 votes were against (0.00% of votes cast). 3,000 votes were withheld.

11. THAT the limit in the aggregate remuneration payable to the directors for their services be increased from GBP250,000 to GBP350,000 per annum.

531,923,662 votes were in favour of the resolution (94.78% of votes cast) and 29,286,046 votes were against (5.22% of votes cast). 11,979 votes were withheld.

12. THAT the changes to the Investment Advisory fee basis, as set out in the explanatory notes to the Notice of AGM be approved.

462,620,017 votes were in favour of the resolution (82.43% of votes cast) and 98,600,207 votes were against (17.57% of votes cast). 3,000 votes were withheld.

The following were proposed as special resolutions:

13. THAT the Company be and is hereby generally authorised, for the purposes of the Companies (Guernsey) Law, 2008, as amended (the "Law") to make market purchases (as identified in the Law) of its Ordinary Shares in issue.

541,116,803 votes were in favour of the resolution (100.00% of votes cast) and 8,000 (0.00% of votes cast) were against. 20,098,422 votes were withheld.

14. THAT in substitution for all existing authorities to disapply pre-emptions rights the Directors be and are hereby authorised to allot and issue equity securities.

549,563,130 votes were in favour of the resolution (97.92% of votes cast) and 11,660,095 votes were against (2.08% of votes cast). No votes were withheld.

For further information please contact:

 
 Sequoia Investment Management Company 
  Steve Cook 
  Dolf Kohnhorst 
  Randall Sandstrom 
  Greg Taylor                             [phone] 
 Stifel Nicolaus Europe Limited 
  Neil Winward 
  Mark Bloomfield 
  Gaudi Le Roux                           [phone] 
 Tulchan Communications (Financial 
  PR) 
  James Macey White 
  Martin Pengelley 
  Elizabeth Snow                          [phone] 
 Praxis Fund Services Limited (Company 
  Secretary) 
  Matt Falla                              [phone] 
 

About Sequoia Economic Infrastructure Income Fund Limited

The Company seeks to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments. The Company is advised by Sequoia Investment Management Company Limited.

LEI: 2138006OW12FQHJ6PX91

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August 16, 2018 11:04 ET (15:04 GMT)