REG - Aberdeen Stand. Asia - Result of AGM

Aberdeen Asia FocusAnnouncement

05/12/2019 11:05

RNS Number : 8388V
Aberdeen Standard Asia Focus PLC
05 December 2019
 


Aberdeen Standard Asia Focus PLC (the "Company")
Legal Entity Identifier (LEI):  5493000FBZP1J92OQY70
 
RESULT OF ANNUAL GENERAL MEETING
 
5 December 2019
 
At the Annual General Meeting of the Company held on 4 December 2019, all resolutions in the Notice of Meeting were passed on a show of hands. 
 
In relation to Resolution 13 (authority to disapply pre-emption rights), 10.0 per cent. of the Company's issued share capital equates to 3,340,684 Ordinary shares as at today's date.  In relation to Resolution 14 (authority to purchase shares for cancellation or treasury), 14.99 per cent. of the Company's issued share capital equates to 5,007,686 Ordinary shares as at today's date.
 
The total number of proxy votes lodged was as follows:
 







Resolution


Votes For


% For


Votes
Against


%
Against


Discretionary


Votes For
&
Discretionary


Total Votes
Cast
(Excluding
Withheld)


 Votes 
Withheld




01


Reports and
Accounts


16,395,477


100.00%


370


0.00%


317


16,395,794


16,396,164


5,414




02


Remuneration
Report


16,333,374


99.76%


38,424


0.23%


317


16,333,691


16,372,115


29,464




03


Final Dividend


16,398,248


100.00%


67


0.00%


317


16,398,565


16,398,632


2,946




04


Special Dividend


16,395,606


100.00%


67


0.00%


317


16,395,923


16,395,990


5,588




05


Mr N.K. Cayzer


16,062,439


98.74%


204,501


1.26%


317


16,062,756


16,267,257


134,321




06


Mr M.J. Gilbert


11,236,300


69.04%


5,038,469


30.96%


317


11,236,617


16,275,086


126,493




07


Ms H. Fukuda


16,175,798


98.80%


195,858


1.20%


317


16,176,115


16,371,973


29,605




08


Viscount Dunluce


16,179,578


98.82%


192,742


1.18%


317


16,179,895


16,372,637


28,941




09


Ms C. Black


16,363,147


99.95%


7,763


0.05%


317


16,363,464


16,371,227


30,352




10


Ms D. Guthrie


16,363,555


99.93%


11,182


0.07%


317


16,363,872


16,375,054


26,524




11


Reappoint Auditors


15,495,392


94.71%


865,464


5.29%


317


15,495,709


16,361,173


40,406




12


Allot Shares


16,370,359


99.91%


14,065


0.09%


317


16,370,676


16,384,741


16,838




13


Pre-emption Rights


16,286,797


99.43%


92,333


0.56%


317


16,287,114


16,379,447


22,133




14


Purchase
Own Shares


16,305,891


99.45%


89,801


0.55%


317


16,306,208


16,396,009


5,570




15


Short Notice GM's


16,199,496


98.91%


178,996


1.09%


317


16,199,813


16,378,809


22,769



 
The Board has noted that shareholder proxies representing 31% of the issued capital voted against the annual re-election of Mr Gilbert at the AGM held on 4 December 2019. The Board notes the substantial support received from the shareholders with proxies representing 69% having voted in favour of Mr Gilbert's re-election and unanimous support from the  shareholders in attendance at the AGM.  Mr Gilbert is a non-independent Director and the Board has a rigorous procedure in place to ensure that only independent Directors are permitted to be present when any matters relating to the Manager are discussed and this process is enforced strictly. Mr Gilbert, or his Alternate Mr Young, have attended all of the five scheduled Board meetings in the year to 31 July 2019 and there are no issues relating to either Mr Gilbert or his Alternate not having sufficient time to dedicate to the Company. Furthermore, Mr Gilbert has recently announced that he will not seek re-election to the board of Standard Life Aberdeen plc at its Annual General Meeting, scheduled for 12 May 2020, and that he will retire from Standard Life Aberdeen plc on 30 September 2020. The Board has a healthy mix of longer serving and more recently appointed Directors and the experience of the longer serving Directors has served the Company well through the investment cycles of the last 24 years and is valued by the Board as a whole.
 
PASSING OF RESOLUTIONS UNDER SPECIAL BUSINESS
 
A copy of the resolutions passed under special business will be submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at: www.morningstar.co.uk/uk/NSM*.
 
*Neither the NSM website nor the content of any website accessible from hyperlinks on the NSM website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.
 
 
For Aberdeen Asset Management PLC - Secretaries
5 December 2019




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