TIDMQIF
RNS Number : 4991F
Qatar Investment Fund PLC
12 November 2015
12 November 2015
Qatar Investment Fund plc
(the "Company")
2015 Annual General Meeting Results
Discontinuation Vote Rejected
The Board of Qatar Investment Fund plc (QIF.L) announces that at
the Annual General Meeting ("AGM") held today at 11.00 a.m., all
resolutions were duly passed on a poll with the exception of
Resolution 6 (the Discontinuation Vote as set out in the Company's
Articles of Association) which was rejected. The results are shown
below.
ORDINARY BUSINESS
Resolution 1
The Report of the Investment Manager and Investment Adviser,
Report of the Directors, Directors' Remuneration Report, Auditors'
Report and the Audited Consolidated Financial Statements of the
Company for the year end to 30 June 2015 be approved with
115,663,008 votes cast in favour, nil votes cast against and 3,207
abstentions.
Resolution 2
The final dividend of USD 4.0 cents per ordinary share for the
year ended 30 June 2015 was approved with 115,663,008 votes cast in
favour, nil votes cast against and 3,207 abstentions.
Resolution 3
KPMG Audit LLC Isle of Man was re-appointed as auditor of the
Company for the year ending 30 June 2016 with 112,839,932 votes
cast in favour, 2,823,076 votes cast against and 3,207
abstentions.
Resolution 4
Mr Leonard O'Brien who retires in accordance with the corporate
governance codes adopted by the Nomination Committee of the Company
be re-elected a director of the Company with 111,661,533 votes cast
in favour, 2,679,019 votes cast against and 1,325,663
abstentions.
SPECIAL BUSINESS
Resolution 5
The Company generally and unconditionally be authorised to make
market purchases of ordinary shares of US$0.01 each provided that:
(a) the maximum aggregate number of ordinary shares that may be
purchased is 20,720,084 (being the equivalent of 14.99% of the
Company's issued share capital at the date of this notice); (b) the
minimum price (excluding expenses) which may be paid for each
ordinary share is US$0.01 being the nominal value per ordinary
share; (c) the maximum price (excluding expenses) which may be paid
for each ordinary share is the higher of: (i) 105 per cent of the
average market value of an ordinary share in the Company for the
five business days prior to the day the purchase is made; and (ii)
the value of an ordinary share calculated on the basis of the
higher of the price quoted for (I) the last independent trade of
and (II) the highest current independent bid for, any number of the
Company's ordinary shares on the trading venue where the purchase
is carried out; and (d) the authority conferred by this resolution
shall expire on 12 November 2016 or, if earlier, at the conclusion
of the Company's next annual general meeting save that the Company
may, before the expiry of the authority granted by this resolution,
enter into a contract to purchase ordinary shares which will or may
be executed wholly or partly after the expiry of such authority.
All Shares purchased pursuant to the above authority shall be
either: (i) held, sold, transferred or otherwise dealt with as
treasury shares; or (ii) cancelled immediately upon completion of
the purchase, with 112,983,989 votes cast in favour, 2,679,019
votes cast against and 3,207 abstentions.
Resolution 6
Pursuant to Article 162 of the Articles of Association, the
Directors proposed that the Company ceases to continue in
existence.
The resolution was not passed, with 7,949,935 votes cast in
favour, 107,713,073 votes cast against and 3,207 abstentions.
Resolution 7
The rights of holders of equity securities in the Company to
receive a pre-emptive offer of equity securities pursuant to
Article 5A.2 of the Company Articles of Association shall be and is
hereby excluded in respect of 13,822,604 Ordinary shares, this
exclusion to expire immediately prior to the annual general meeting
of the Company to be held in 2016, was approved with 111,517,476
votes cast in favour, 2,733,775 votes cast against and 1,414,964
abstentions.
A copy of resolutions 5, 6 and 7 will be submitted to the
National Storage Mechanism and will be available for inspection at:
www.hemscott.com/nsm.do.
The total number of votes cast was 115,663,008 which represents
84% of the Company's total voting rights.
Nick Wilson, Chairman of the Company, said:
"We are pleased with the support that shareholders have shown in
the vote against discontinuation. As a result the fund will
continue to provide investors with exposure to the powerful growth
prospects offered by Qatar; and we will strive to deliver
investment performance ahead of the Qatar stockmarket."
For further information:
Qatar Investment Fund plc +44 (0) 1624 622 851
Nick Wilson
Panmure Gordon +44 (0) 20 7886 2500
Richard Gray / Andrew Potts
Maitland +44 (0) 20 7379 5151
William Clutterbuck / Cebuan Bliss
Galileo Fund Services Limited +44 (0) 1624 692 600
Ian Dungate / Suzanne Jones
This information is provided by RNS
The company news service from the London Stock Exchange
END
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