Result of AGM
Updated : 12:59
D P AIRCRAFT I LIMITED ('the Company') RESULTS OF ANNUAL GENERAL MEETING ('AGM') | ||||||||||
The Board of the Company is pleased to announce that all of the resolutions put to shareholders at the AGM held on 10 July 2020 were passed. The details of each such resolution are as follows: | ||||||||||
1. ORDINARY RESOLUTION | THAT the Annual Report and Audited Consolidated Financial Statements of the Company for the year ended 31 December 2019 together with the Reports of the Directors and Auditors thereon be received and adopted.
IT WAS RESOLVED THAT Resolution 1 be and is hereby passed.
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2. ORDINARY RESOLUTION | THAT Jonathan Bridel be and is hereby re-elected as a director of the Company.
IT WAS RESOLVED THAT Resolution 2 be and is hereby passed.
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3. ORDINARY RESOLUTION | THAT Harald Brauns be and is hereby elected as a director of the Company.
IT WAS RESOLVED THAT Resolution 3 be and is hereby passed. | |||||||||
4. ORDINARY RESOLUTION | THAT the appointment of KPMG Chartered Accountants, Statutory Audit Firm as Auditors of the Company for the year ending 31 December 2020 be and is hereby approved and that the Directors be authorised to fix their remuneration.
IT WAS RESOLVED THAT Resolution 4 be and is hereby passed.
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5. ORDINARY RESOLUTION | TO approve the Directors' remuneration report as set out in the 2019 Annual Report (excluding the Directors' Remuneration Policy), including the proposed annual remuneration of each Director, proposed to take effect from 1 April 2020, for routine business of the Company.
IT WAS RESOLVED THAT Resolution 5 be and is hereby passed.
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6. ORDINARY RESOLUTION | TO approve the Directors' Remuneration Policy for the year ending 31 December 2020 as set out on page 28 of the 2019 Annual Report.
IT WAS RESOLVED THAT Resolution 6 be and is hereby passed.
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7. ORDINARY RESOLUTION | TO approve the dividend policy of the Company as set out on page 3 of the 2019 Annual Report.
IT WAS RESOLVED THAT Resolution 7 be and is hereby passed.
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8. ORDINARY RESOLUTION | THAT the Directors be and are hereby authorised to allot and issue (or sell out of treasury) ordinary shares of no par value in the Company ("Ordinary Shares") up to an aggregate amount not exceeding 10 per cent. of the Ordinary Shares in issue immediately following the passing of this resolution at a price which is less than the net asset value per Ordinary Share as at the latest practicable date before the allotment of such Ordinary Shares. This authority shall expire on the date falling 15 months after the date of passing this resolution or the conclusion of the next annual general meeting of the Company whichever is the earlier (save that the Company may at any time before such expiry make an offer or agreement which might require Ordinary Shares to be allotted or issued after such expiry and the Directors may allot and issue Ordinary Shares after such expiry in pursuance of such offer or agreement as if the authority conferred hereby had not expired).
IT WAS RESOLVED THAT Resolution 8 be and is hereby passed.
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9. ORDINARY RESOLUTION | THAT subject to the passing of Resolution 8 above and in addition to the authority granted thereby, the Directors be and are hereby authorised to allot and issue (or sell out of treasury) a further 10 per cent. of the Ordinary Shares in issue immediately following the passing of this resolution at a price which is less than the net asset value per Ordinary Share as at the latest practicable date before the allotment of such Ordinary Shares. This authority shall expire on the date falling 15 months after the date of passing this resolution or the conclusion of the next annual general meeting of the Company whichever is earlier (save that the Company may at any time before such expiry make an offer or agreement which might require Ordinary Shares to be allotted or issued after such expiry and the Directors may allot and issue Ordinary Shares after such expiry in pursuance of such offer or agreement as if the authority conferred hereby had not expired).
IT WAS RESOLVED THAT Resolution 9 be and is hereby passed. | |||||||||
The Board notes that votes representing 23.9% of total votes cast were received against resolution 9.
The Company is expected to have sufficient liquidity to manage its affairs over the coming months, however the Board wishes to keep all options open regarding ongoing liquidity management as a matter of prudence.
The Company will seek to engage with the relevant shareholders who voted against resolution 9 in order to understand further the reasons for their votes and address their concerns.
For further information please contact:
Aztec Financial Services (Guernsey) Limited, Company Secretary
Kellie Blondel / Laura Dunning
+44 1481 748 866
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