ASAI Asa International Group Plc

TIDMASAI

RNS Number : 8767C

ASA International Group PLC

15 June 2023

ASA International Group plc announces result of Annual General Meeting

London, United Kingdom / Amsterdam, The Netherlands, 15 June 2023 - ASA International Group plc (LSE: ASAI) ('ASA International', the 'Company' or the 'Group'), one of the world's largest international microfinance institutions, today held its Annual General Meeting ('AGM') at the offices of Investec, 30 Gresham Street, London EC2V 7QP, United Kingdom, at 11.00am BST.

Each of the resolutions contained in the Notice of Meeting was put to the AGM and voted on by way of a poll. All were duly approved.

As stated in the Company's AGM Notice and under Listing Rule 9.2.2.E, a resolution to elect or re-elect an Independent Director must be passed by both a majority of the independent shareholders (i.e. shareholders of the Company who are entitled to vote on the election of Directors and who are not controlling shareholders) and a majority of all shareholders (including the majority shareholder). In order to determine this, votes cast by the independent shareholders were counted separately in respect of the election of Guy Dawson, Hanny Kemna, Dr Salehuddin Ahmed, and Chris Low and are set out below.

The total number of votes received on each resolution put to the AGM was as follows:

 
 No.    Resolution                      Votes FOR (a)               %        Votes AGAINST   %      Votes WITHHELD (b) 
        Receive 2022 Annual Report 
  1     and Financial Statements               73,453,728           98.68       982,697      1.32           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
        Approve Directors' 
  2     Remuneration Policy                    71,149,073           95.58      3,287,352     4.42           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
        Approve Annual Report on 
  3     Remuneration                           71,154,668           95.59      3,281,757     4.41           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
                                            All 
 
 
        Elect Guy Dawson as a 
        Director                         Independent   74,436,425   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
  4                                                    27,132,962   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
        Elect Dirk Brouwer as a 
   5    Director                               74,436,425           100.00         0         0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
        Elect Aminur Rashid as a 
   6    Director                               74,430,830           99.99        5,595       0.01           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
        Elect Karin Kersten as a 
   7    Director                               74,436,425           100.00         0         0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
                                            All 
        Elect Hanny Kemna as a 
        Director                         Independent   74,436,425   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
  8                                                    27,132,962   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
                                            All 
        Elect Salehuddin Ahmed as a 
        Director                         Independent   74,436,425   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
  9                                                    27,132,962   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
                                            All 
 
        Elect Chris Low as a Director    Independent   74,436,425   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
  10                                                   27,132,962   100.00         0         0.00           0 
       ------------------------------  -------------  -----------  -------  --------------  -----  ------------------- 
 
   11    Re-appoint Ernst & Young LLP 
         as Auditor                            74,436,425           100.00         0         0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
   12    Authorise Audit & Risk 
         Committee to approve Auditor 
         remuneration                          74,436,425           100.00         0         0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
         Authorise Directors to allot 
   13    shares                                71,498,825           96.05      2,937,600     3.95           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
   14    Authority to disapply 
         pre-emption rights (up to 5% 
         of issued share capital) (c)          74,436,425           100.00         0         0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
   15    Authority to disapply 
         pre-emption rights in 
         connection with specific 
         acquisition/ investment 
         (further 5% of issued share 
         capital) (c)                          74,433,571           100.00       2,854       0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
         Authority to purchase own 
   16    shares (c)                            74,433,571           100.00       2,854       0.00           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
        Authority to call General 
   17   Meetings (except AGMs) by 
        notice of not less than 14 
        days (c)                               72,475,927           97.37      1,960,498     2.63           0 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
   18 
         Approval of waiver given by 
         the Takeover Panel regarding 
         Rule 9 of the Takeover Code 
         (in the 
         event of a share buyback)             25,800,513           95.09      1,332,449     4.91           2 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 
   19    Approval of waiver given by 
         the Takeover Panel regarding 
         Rule 9 of the Takeover Code 
         (in the 
         event of a share option 
         exercise under the LTIP)              25,800,513           95.09      1,332,449     4.91           2 
       ------------------------------  --------------------------  -------  --------------  -----  ------------------- 
 

NOTES:

(a) The "For" proxy vote includes those giving the Chairman discretion.

(b) A vote "Withheld" is not a vote in law and is not counted in the calculation of the proxy votes "For" or "Against" the resolution.

(c) Special resolution .

The total number of ordinary shares in issue on 13 June 2023, the deadline for casting votes by proxy in advance of the AGM, was 100,000,000 shares. 74.44% of voting capital, including votes withheld, was instructed in respect of the resolutions put to the AGM.

The full text of the resolutions can be found in the Notice of Annual General Meeting, which is available on the Company's website at www.asa-international.com In accordance with the UK Listing Authority's Listing Rule 9.6.2, copies of all the resolutions passed by the Company's shareholders, other than ordinary business will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Enquiries:

ASA International Group plc

Head of Investor Relations

Mischa Assink

IR@asa-international.com

About ASA International Group plc

ASA International is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa.

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June 15, 2023 07:15 ET (11:15 GMT)