Secured Income Fund PLC Result of Meeting (2361T)
24 March 2021 - 3:05AM
UK Regulatory
TIDMSSIF
RNS Number : 2361T
Secured Income Fund PLC
23 March 2021
Secured Income Fund Plc
LEI: 213800TR2S2TT6PKVH57
23 March 2021
SECURED INCOME FUND PLC
(the "Company")
Results of General Meeting
The Board of Secured Income Fund plc announces that, at the
general meeting of the Company held earlier today, all of the
proposed resolutions were approved by shareholders.
As a result, the Company will establish a B Share Scheme (as
defined in the circular to shareholders dated 26 February 2021 (the
"Circular")) and arrange for the buyback and cancellation of the
Management Shares.
Defined terms have the meaning given to them in the
Circular.
Details of the number of proxy votes cast for, against and
withheld in respect of the Resolutions (each of which was held on a
poll) are set out below and will also be published on the Company's
website, https://kkvim.com/secured-income-fund/ .
For Discretion Against Withheld*
Resolution 1 (Special
Resolution)
1, That the Company
adopt New Articles
of Association
which include the
rights of the B
Shares, as set
out in Part 3 of
the circular to
Shareholders of
the Company dated
26 February 2021
(the "Circular"),
and permit the
Directors to capitalise
reserves from time
to time for the
purposes of the
B Share Scheme
(as defined in
the Circular). 35,493,570 0 3,412 0
Resolution 2 (Ordinary
Resolution)
2. That, pursuant
to article 192
of the articles
of association
of the Company,
the Directors be
authorised to capitalise
sums standing to
the credit of the
Company's reserves
and to apply such
sums in paying
up in full up to
43,857,133 B Shares. 35,493,570 0 3,412 0
Resolution 3 (Ordinary
Resolution)
3. That the Directors
be authorised to
issue up to an
aggregate nominal
amount of GBP43,857,133
B Shares on a pro
rata basis to the
holders of Ordinary
Shares by way of
bonus issues. 35,493,570 0 3,412 0
Resolution 4 (Ordinary
Resolution)
4. That the share
buyback contract
between the Company
and Amberton Asset
Management Limited
for the buyback
and cancellation
of Management Shares
(as defined in
the Circular) is
approved. 35,493,570 0 3,412 0
B Share Scheme
Pursuant to the authority received from shareholders at the
general meeting, the Board has resolved to return GBP6,582,543.75
to Shareholders via an issue of B Shares.
B Shares of GBP1 each will be paid up from capital and issued to
all Shareholders by way of a bonus issue pro-rata to their holding
of Ordinary Shares on the basis of one B Share for every eight
Ordinary Shares held at the Record Date of 6.00 p.m. on 23 March
2021. The B Shares will be issued on 24 March 2021 and immediately
redeemed at GBP1 per B Share. The Redemption Date in respect of
this Return of Capital is 24 March 2021. The proceeds from the
redemption of the B Shares, which is equivalent to 12.5 pence per
Ordinary Share, will be sent to uncertificated Shareholders through
CREST or via cheque to certificated Shareholders. The capital being
returned represents approximately 16 per cent. of the Company's Net
Asset Value as at 31 January 2021, being the latest published Net
Asset Value prior to the publication of the Circular.
Timetable
It is expected that the timetable will be as follows:
Record Date of initial Return 6.00 p.m. on 23 March 2021
of Capital
Ex date in respect of initial 24 March 2021
Return of Capital
Redemption Date of initial Return 24 March 2021
of Capital
Payment date for CREST 31 March 2021
Dispatch of cheques in respect 31 March 2021
of certificated holders
All redemption payments will be paid gross of tax.
Alternate director appointment
The Board announces the appointment of Mrs Sarah Wylie as an
alternate independent, non-executive Director for Mr David
Stevenson with effect from the start of the general meeting until
the conclusion of the general meeting. Mrs Wylie is a solicitor at
Dickson Minto W.S., the Company's lawyers. Mrs Wylie acted as
Chairperson of the meeting.
There is no other information required to be disclosed pursuant
to paragraph 9.6.13R of the Listing Rules in relation to this
appointment.
Enquiries:
For further information please contact:
Directors
David Stevenson (Chair) tel: +44 7973 873785
Susan Gaynor Coley tel: +44 7977 130673
Brett Miller tel: +44 7770 447338
KKV Investment Management email: Investor.communications@kkvim.com
Ltd
Catherine Halford Riera
finnCap Ltd. tel: +44 20 7220 0500
Corporate Finance: William
Marle / Giles Rolls
Sales: Mark Whitfeld
Notes:
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accessible from hyperlinks on those websites (or any other website)
is (or is deemed to be) incorporated into, or forms (or is deemed
to form) part of this announcement.
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END
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