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RNS Number : 3877R Aquila Energy Efficiency Trust PLC 28 February 2023
28 February 2023
AQUILA ENERGY EFFICIENCY TRUST PLC
Result of General Meeting
Aquila Energy Efficiency Trust plc (the "Company") announces that, as
previously anticipated in its announcement on 27 February 2023, the
resolutions put forward at its General Meeting held earlier today did not
pass. Resolution 1 was proposed as an ordinary resolution, requiring in excess
of 50% of votes cast to be cast in favour to pass, and, Resolution 2 as a
special resolution, requiring 75% of votes cast to be cast in favour to pass.
The text of the resolutions is contained in the Notice of General Meeting
dated 13 February 2023, which can be found on the Company's website at
https://www.aquila-energy-efficiency-trust.com
(https://www.aquila-energy-efficiency-trust.com) .
Voting on the resolutions was taken on a poll. The results of the poll were as
follows:-
Resolution In favour Against Withheld
Votes % Votes Cast Votes % Votes Cast Votes
1 37,257,050 44.45 46,553,793 55.55 0
2 49,858,678 59.50 33,933,709 40.50 18,456
At the time of the above meeting, the Company's issued share capital consisted
of 100,000,000 ordinary shares. The Company held no shares in treasury.
Therefore, the total number of ordinary shares with voting rights was
100,000,000. Each ordinary share held entitles the holder to one vote and
there are no restrictions on those voting rights. A "Vote withheld" is not a
vote in law and is not counted in the calculation of the percentage of shares
voted "For" or "Against" a resolution.
In accordance with the Company's Articles of Association, by 28 August 2023,
being six months following the date of the General Meeting, the Directors will
recommend to shareholders whether the Company be reconstructed, re-organised
or placed into liquidation, having explored all options and determined the
best solution including discussing the options with the Company's
shareholders. In addition, as it stands, a further continuation vote will be
required to be proposed at the Company's annual general meeting in 2023 (such
meeting to be held no later than 30 June 2023) in accordance with the
requirements of the Company's Articles of Association. A further
announcement will be made in due course.
In light of the results of the General Meeting, the Investment Adviser no
longer intends to undertake the acquisition of ordinary shares of the Company
in the market, as previously disclosed in the Company's announcement released
on 20 February 2023.
Enquiries:
Aquila Capital (Investment Adviser) Via Buchanan
Buchanan (Financial PR) 020 7466 5000
Charles Ryland, Henry Wilson, George Beale
Peel Hunt (Broker) 020 7418 8900
Luke Simpson, Huw Jeremy (Investment Banking)
Apex Listed Companies Services (UK) Limited (Company Secretary) 020 3327 9720
Maria Matheou, Brian Smith
LEI: 213800AJ3TY3OJCQQC53
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