Acorn Income Fund Limited (the
“Company”)
(a closed-ended investment company incorporated with limited
liability under the laws of Guernsey with registered number
34778)
ANNUAL GENERAL MEETING
STATEMENT
26 September 2016
Further to the Annual General Meeting Notice dated 06 April 2016 (the “Notice”) and sent to
shareholders of the Company on 14 April
2016, the Annual General Meeting was held today and
shareholders voted in favour of Resolutions 1 to 9 and against
Resolution 10, as recommended by the Directors, thereby supporting
the continuation of the Company in its present form.
Helen Green, Chairman, commented:
“The Board is very pleased that Ordinary shareholders have voted
overwhelmingly to continue Acorn in its present form. We will now
begin our consideration of a refinancing of the Zero Dividend
Preference shares, which fall due for repayment on 31 January 2017. We anticipate that the ZDP
refinancing can be effected at an attractive interest rate and
therefore that the Company will be able to continue to provide
Ordinary shareholders with a high level of income, underpinned by
the Company’s material revenue reserve, as well as the opportunity
for further capital growth driven principally by the Smaller
Companies portfolio. Subject to stockmarket conditions, we will
also be considering the potential to issue further Ordinary shares
at the time of the refinancing.”
Details of the proxy voting results, which should be read
alongside the Notice sent to shareholders, are noted below.
| Ordinary
Resolution |
For |
Against |
Abstain |
| 1 |
1,933,424 |
212,189 |
179,222 |
| 2 |
1,905,561 |
222,152 |
197,122 |
| 3 |
1,896,293 |
249,320 |
179,222 |
| 4 |
1,921,124 |
220,489 |
183,222 |
|
Special Business by Ordinary Resolution |
For |
Against |
Abstain |
| 5 |
1,919,524 |
217,689 |
187,622 |
| 6 |
1,896,193 |
241,020 |
187,622 |
|
Special Business by Special Resolution |
For |
Against |
Abstain |
| 7 |
1,925,024 |
212,189 |
187,622 |
| 8 |
1,925,024 |
212,189 |
187,622 |
| 9 |
1,896,193 |
212,189 |
216,453 |
| 10 |
5,800 |
2,310,684 |
8,351 |
Note - A vote withheld is not a vote in law
and has not been counted in the votes for and against a
resolution.
In accordance with Listing Rule 9.6.3, a copy of the special
business and special resolutions have been submitted to the
National Storage Mechanism and will shortly be available for
inspection at: www.morningstar.co.uk/uk/NSM.
Enquiries: Company website:
https://www.premierfunds.co.uk/investors/investments/investment-trusts/acorn-income-fund
Cara De La Mare
Northern Trust International Fund Administration Services
(Guernsey) Limited
Company Secretary
Tel: +44 (0) 1481 745498
Email: cd109@ntrs.com