Result of AGM
Updated : 14:41
SQN Secured Income Fund plc
(the "Company")
17 December 2019
AGM Statement and Result of AGM
SQN Secured Income Fund plc, a UK-listed specialist investment trust with a focus on secured investments that produce regular income, is pleased to announce that at the Company's Annual General Meeting ("AGM") held earlier today, the Company stated that in accordance with the requirements of its Articles of Association it intends to convene a Continuation Vote during the first quarter of 2020. Further, the Company is pleased to announce that all resolutions proposed to shareholders at the AGM were passed. Votes were received in respect of 33,852,178 Ordinary Shares, representing 64.28% of the Company's share register. The resolutions put forward at the AGM and the votes cast are detailed below:
Resolution | For | Abstain | Against | Result | |
As Ordinary Business | |||||
Ordinary Resolution 1 | To receive annual report and accounts. | 31,646,178 | 2,206,000 | 0 | Resolution carried |
Ordinary Resolution 2 | To approve Directors' Remuneration Policy. | 31,642,478 | 2,207,000 | 2,700 | Resolution carried |
Ordinary Resolution 3 | To approve Directors' Remuneration Report. | 31,642,478 | 2,207,000 | 2,700 | Resolution carried |
Ordinary Resolution 4 | To re-elect RSM UK Audit LLP as auditor. | 31,643,478 | 2,206,000 | 2,700 | Resolution carried |
Ordinary Resolution 5 | To authorise Audit and Valuation Committee to determine auditor's remuneration. | 31,646,178 | 2,206,000 | 0 | Resolution carried
|
Ordinary Resolution 6 | To re-elect Gaynor Coley as a Director. | 31,645,178 | 2,207,000 | 0 | Resolution carried
|
Ordinary Resolution 7 | To re-elect Kenneth Hillen as a Director. | 31,645,178 | 2,207,000 | 0 | Resolution carried
|
Ordinary Resolution 8 | To re-elect David Stevenson as a Director. | 31,645,178 | 2,207,000 | 0 | Resolution carried
|
As Special Business | |||||
Ordinary Resolution 9 | To authorise allotment of shares representing 20% of the Company's issued Ordinary Share capital (as at the date of the notice convening the AGM). | 31,643,478 | 0 | 2,208,700 | Resolution carried
|
Special Resolution 10 | To disapply pre-emption rights in respect of allotment of shares and sales of shares from treasury representing 20% of the Company's issued Ordinary Share capital (as at the date of the notice convening the AGM). | 28,466,493 | 0 | 5,385,685 | Resolution carried
|
Special Resolution 11 | To authorise market purchases by the Company of shares representing 14.99% of the Company's issued Ordinary Share capital. | 33,849,774 | 0 | 2,404 | Resolution carried
|
For further information please contact:
SQN Asset Management Limited Neil Roberts/Jeremiah Silkowski/Dawn Kendall
| tel: +44 1932 575 888
| |
finnCap Ltd. Corporate Finance: William Marle / Giles Rolls Sales: Mark Whitfeld
| tel: +44 20 7220 0500
| |
Kepler Partners LLP Hugh van Cutsem
| tel: +44 20 3384 8790 | |
Buchanan Communications Charles Ryland/Henry Wilson
| tel: +44 20 7466 5000 |
http://www.sqncapital.com/managed-funds/sqn-secured-income-fund/about/
Notes to Editor
The Company aims to provide shareholders with attractive risk-adjusted returns, principally in the form of regular, sustainable dividends, through investment predominantly in a range of secured loans and other secured loan-based instruments originated through a variety of channels and diversified by way of asset class, geography and duration.
The Company's Investment Managers are SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission and its subsidiary, SQN Asset Management Limited. The principals responsible for managing the portfolio are Dawn Kendall, Neil Roberts, and Jeremiah Silkowski.
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