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Blue Capital - AGM results - Replacement

RNS Number : 5106N
Blue Capital Alternative Income Fd
09 May 2018
 


The headline for the Blue Capital announcement released on 9 May 2018 at 09:20 under RNS No 4888N should read AGM results.

The announcement text is unchanged and is reproduced in full below.

 

9 May 2018

Blue Capital Alternative Income Fund Limited (the "Company") (Ticker: "BCAI")

Results of Annual General Meeting

The board of directors of the Company (the "Board") announces the results of its Annual General Meeting of shareholders held on 8 May 2018.  Each of the resolutions that were presented to shareholders was duly approved with the exception of the two special resolutions, which required the approval of not less than three-quarters of the votes cast by shareholders. The Board also notes that shareholders representing 39 per cent. of the ordinary shares voted against the continuation of the Company. In light of the results, the Board intends to recommend an orderly run-off of the Company at a Special General Meeting of Shareholders to be held at the earliest practicable date.  The Manager will take into consideration the Board's recommendation with respect to an orderly run-off in conducting its business between now and the Special General Meeting of shareholders.

 

Details of the votes validly cast are set out below:

 

Ordinary Resolutions

 

For

 

Against

Vote

Withheld*

1.  Adoption of the audited financial statements of the Company for the year ended 31 December 2017

132,078,195

14,908,656

0

2.  Setting of the size of the Company's Board of Directors at three (3) and authorization to fill any vacancy on the Board which may occur from time to time as the Board may see fit

130,418,885

16,567,966

0

3.  Re-election of Mr. John R. Weale

103,963,861

43,022,990

0

4.  Re-election of Mr. Gregory D. Haycock

118,115,481

28,871,370

0

5.  Re-election of Mr. George Cubbon

118,115,481

28,871,370

0

6.  Appointment of Ernst & Young Ltd., an independent registered public accounting firm, as the Company's independent auditor for 2017 and authorisation of the Company's Board of Directors, acting by the Company's Audit Committee, to set the auditor's remuneration

132,078,195

14,908,656

0

7.  Authorisation to make market acquisitions of up to a maximum of 14.99% of the Ordinary Shares in issue as at the date of passing of this resolution

146,986,851

0

 

0

 

8.  Approval of the recommendation of the Directors that the Company continue as presently constituted be and is hereby accepted.

78,181,396

68,805,455

0

 

Special Resolutions

 

 

 

1.  Authorisation to exclude the provisions of Bye-Law 14.1 of the Company's Bye-Laws in relation to the issue of up to an aggregate number of Ordinary Shares as represents 10 per cent. of the number of Ordinary Shares in issue at the date of the passing of this resolution

96,802,598

50,184,253

0

2.  Authorisation to allow the Directors to allot up to 250 million New Shares for cash as if Bye-law 14.1 of the Company's Bye-laws does not apply in respect of any such allotment provided that power shall be limited to the allotment of New Shares under the 2018-2019 Placing Programme

88,191,396

58,795,455

0

 

The full text of the resolutions may be found in the Notice of Annual General Meeting dated 28 March 2018, which is included in the Company's Annual Report for the year ended 31 December 2017, a copy of which is available on the Company's website www.bcai.bm.

* A Vote Withheld is not a vote in law and is not counted in the proportion of votes 'for' or 'against' a resolution.

Contacts

 

For investor enquiries please contact:

Blue Capital Management Ltd.

Michael J. McGuire

 +1 441 278 0988

Email: investorrelations@Sompo-Intl.com




Stifel Nicolaus Europe Limited

 +44 (0)20 7710 7600

Neil Winward


Mark Bloomfield


Tunga Chigovanyika

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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