24 May 2018 07:00
FUNDSMITH EMERGING EQUITIES TRUST plc
Results of the Annual General Meeting Held on 23 May 2018
The Board is pleased to announce that at the Annual General Meeting (AGM) held on Wednesday, 23 May 2018, 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 stated otherwise) | Votes For | % | Votes Against | % | Total Votes Cast | Votes Withheld |
Ordinary Business | ||||||
1. To receive and accept the Audited Financial Statements and the Report of the Directors for the year ended 31 December 2017.
| 2,574,778 | 100 | 0 | 0 | 2,574,778 | 9,648 |
2. To re-elect Martin Bralsford as a Director of the Company.
| 2,550,332 | 99.03 | 24,924 | 0.97 | 2,575,256 | 9,170 |
3. To re-elect David Potter as a Director of the Company.
| 2,577,932 | 99.92 | 2,124 | 0.08 | 2,580,056 | 4,370 |
4. To re-elect John Spencer as a Director of the Company.
| 2,576,432 | 99.86 | 3,624 | 0.14 | 2,580,056 | 4,370 |
5. To approve the Directors' Remuneration Report for the year ended 31 December 2016.
| 2,565,481 | 99.72 | 7,182 | 0.28 | 2,572,663 | 11,763 |
6. To approve the Directors' Remuneration Policy.
| 2,563,535 | 99.63 | 9,628 | 0.37 | 2,573,163 | 11,263 |
7. To re-appoint Deloitte LLP as Auditor to the Company and to authorise the Audit Committee to determine their remuneration.
| 2,562,206 | 99.79 | 5,357 | 0.21 | 2,567,563 | 16,863 |
Special Business
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8. To authorise the Directors to allot securities in the Company up to an amount representing 10% of the issued share capital.
| 2,560,733 | 99.54 | 11,750 | 0.46 | 2,572,483 | 11,943 |
9. To authorise the Directors to allot securities in the Company up to an amount representing a further 10% of the issued share capital. | 2,553,637 | 99.46 | 13,846 | 0.54 | 2,567,483 | 16,943 |
10. #To disapply the pre-emption rights in relation to the allotment of shares up to an amount representing 10% of the issued share capital.
| 2,544,280 | 99.06 | 24,203 | 0.94 | 2,568,483 | 15,943 |
11. See below
| ||||||
12. #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.
| 2,463,236 | 95.81 | 107,810 | 4.19 | 2,571,046 | 13,380 |
13. #To authorise the Company to make market purchases of Ordinary shares in the Company.
| 2,560,060 | 99.46 | 13,923 | 0.54 | 2,573,983 | 10,443 |
14. #That the Directors be authorised to call general meetings (other than annual general meetings) on not less than 14 clear days' notice. | 2,483,897 | 96.55 | 88,716 | 3.45 | 2,572,613 | 11,813 |
# - Special Resolution
The following Special Resolution was withdrawn by the Board in view of the level of proxy votes received against the resolution:
11 To dis-apply the pre-emption rights in relation to the allotment of shares up to an amount representing a further 10% of the issued share capital.
This resolution, had it been passed, would have granted the Board the authority to dis-apply pre-emption rights on the issue of a number of shares representing 10% of the issued share capital of the Company and would have been in addition to the authority conferred by resolution 10 which grants the same authority in respect of shares representing 10% of the issued share capital. This additional authority has in the past 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. Therefore, the Board will continue to offer shareholders the opportunity to vote regarding the granting of this additional authority at future general meetings in order to facilitate the continued efficient and cost-effective administration of the share issuance programme.
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 25,850,056.
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.
23 May 2018
For further information please contact:
Kerstin Rucht Frostrow Capital LLP - Company Secretary 0203 709 8734