Fundsmith Emerging Equities Tst PLC Result of AGM (1602G)
25 May 2017 - 2:17AM
UK Regulatory
TIDMFEET
RNS Number : 1602G
Fundsmith Emerging Equities Tst PLC
24 May 2017
FUNDSMITH EMERGING EQUITIES TRUST plc
Results of the Annual General Meeting Held on 24 May 2017
The Board is pleased to announce that at the Annual General
Meeting (AGM) held on Wednesday, 24 May 2017, all resolutions as
detailed below were duly passed by shareholders on a show of hands.
The proxy voting figures are shown below:
Resolutions (Ordinary unless Votes % Votes Against % Total Votes Votes
stated otherwise) For Cast Withheld
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
Ordinary Business
----------------------------------------------- ---------------------------------------------------------------------
1. To receive and accept the
Audited Financial Statements
and the Report of the Directors
for the year ended 31 December
2016 5,534,571 99.998 88 0.001 5,534,659 0
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
2. To re-elect Martin Bralsford
as a Director of the Company 5,512,221 99.59 22,438 0.41 5,534,659 0
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
3. To re-elect David Potter as
a Director of the Company 5,534,071 99.99 588 0.01 5,534,659 0
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
4. To re-elect John Spencer as
a Director of the Company 5,534,071 99.99 588 0.01 5,534,659 0
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
5. To approve the Directors'
Remuneration Report for the year
ended 31 December 2016 5,532,450 99.97 1,509 0.03 5,533,959 700
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
6. To re-appoint Deloitte LLP
as Auditor to the Company and
to authorise the Audit Committee
to determine their remuneration 5,527,792 99.88 6,767 0.12 5,534,559 100
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
Special Business
----------------------------------------------- ---------------------------------------------------------------------
7. To authorise the Directors
to allot securities in the Company
up to an amount representing
10% of the issued share capital 5,523,671 99.85 8,488 0.15 5,532,159 2,500
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
8. To authorise the Directors
to allot securities in the Company
up to an amount representing
a further 15% of the issued share
capital 5,521,777 99.83 9,182 0.17 5,530,959 3,700
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
9. #To disapply the pre-emption
rights in relation to the
allotment
of shares up to an amount
representing
10% of the issued share capital 5,518,271 99.82 9,688 0.18 5,527,959 6,700
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
10. #To dis-apply the pre-emption
rights in relation to the
allotment
of shares up to an amount
representing
a further 15% of the issued share
capital 4,633,706 83.79 896,753 16.21 5,530,459 4,200
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
11. #To authorise the Directors
to sell Treasury Shares on a
non-pre-emptive basis and at
a narrower discount to the net
asset value per share at which
they are bought in. 5,488,709 99.17 45,850 0.83 5,534,559 100
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
12. #To authorise the Company
to make market purchases of
Ordinary
shares in the Company 5,527,138 99.86 7,521 0.14 5,534,659 0
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
13. #That the Directors be authorised
to call general meetings (other
than annual general meetings)
on not less than 14 clear days'
notice 5,503,636 99.46 29,923 0.54 5,533,559 1,100
----------------------------------------------- ---------- ------- -------------- ------ ------------ ----------
# - Special Resolution
The Board notes that 16.21% of the proxy votes submitted in
respect of resolution 10 were voted against the resolution. This
authority grants the Board the authority to dis-apply pre-emption
rights on the issue of a number of shares representing 15% of the
issued share capital of the Company and is in addition to the
authority conferred by resolution 9 which grants the same authority
in respect of shares representing 10% of the issued share capital.
This additional authority has facilitated the smooth running of the
Company's share issuance programme, allowing the Company to
continue issuing shares without the need to hold additional general
meetings during the year, which can be costly to shareholders.
Accordingly, the Board will continue to offer shareholders the
opportunity to vote regarding the granting of this additional
authority in order to facilitate the continued efficient and
cost-effective administration of the share issuance programme. The
Board is pleased to note that the majority with which the
resolution was passed has increased from the prior year.
Any proxy votes which are at the discretion of the Chairman have
been included in the "for" total. A vote withheld is not a vote in
law and is not counted in the calculations of votes cast by proxy.
At the date of the AGM the total number of Ordinary shares of 1p
each in issue and the total number of voting rights was
23,937,556.
The proxy voting figures will shortly also be available on the
Company's website at www.feetplc.co.uk
In accordance with Listing Rule 9.6.2, the full text of the
special business resolutions passed has been submitted to the
National Storage Mechanism and will shortly be available for
inspection at http://www.morningstar.co.uk/uk/nsm. The special
business resolutions will additionally be filed at Companies
House.
24 May 2017
For further information please contact:
Katherine Manson Frostrow Capital LLP - Company Secretary 0203 709 8734
This information is provided by RNS
The company news service from the London Stock Exchange
END
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