Aberdeen Asia-Pacific Income Investment Company Limited Announces Results Of Special And Annual General Meeting Of Shareholders
TORONTO, April 29, 2021 /CNW/ -- Aberdeen Asia-Pacific Income Investment Company Limited (TSX:FAP) (the "Company"), a closed-end investment company trading on the Toronto Stock Exchange, announced today the results of its Special and Annual General Meeting of Shareholders (the "Meeting"), held on April 29, 2021 (adjourned and reconvened from April 22, 2021.)
In addition to the election of directors and the appointment of auditors, at the Meeting, Shareholders were asked to consider the re-domiciliation of the Company from the laws of the Cook Islands to the Laws of the Republic of Singapore as a Variable Capital Company (the "Re-domiciliation"), along with certain other changes to facilitate and implement the Re-domiciliation.
The Company is pleased to announce that shareholders have approved all resolutions. Upon the effective date of the Re-domiciliation, the Company will be re-named "Aberdeen Asia-Pacific Income Fund VCC". The Re-domiciliation is expected to be completed prior to November 1, 2021.
The description of the Meeting proposals, the shareholders' votes cast for and against each proposal at the Meeting are as follows:
1. Special Resolution – Re-domiciliation
The Re-domiciliation, as described in the Management Information Circular of the Company dated March 22, 2021 (the "Circular"), was approved by a special resolution passed by 14,487,058 (93.09%) votes for and 1,076,073 (6.91%) votes against.
2. (A) Fixing Number of Directors
The number of directors of the Company was fixed at four (4) directors and, effective concurrently with the Re-domiciliation, was fixed at six (6) directors, by an ordinary resolution passed by 14,445,626 (92.82%) votes for and 1,117,505 (7.18%) votes against.
(B) Election of Directors
The first four (4) directors listed below and, effective concurrently with the Re-domiciliation, the election of Henny Muliany and Hugh Young as directors of the Company, as described in the Circular, was approved by an ordinary resolution passed as follow:
Director |
Votes For |
Votes Withheld |
Radhika Ajmera |
14,398,993 (92.52%) |
1,164,138 (7.48%) |
William J. Braithwaite |
14,434,128 (92.75%) |
1,129,003 (7.25%) |
P. Gerald Malone |
10,180,712 (65.42%) |
5,382,419 (34.58%) |
Warren C. Smith |
10,183,877 (65.44%) |
5,379,254 (34.56%) |
Henny Muliany |
10,106,550 (64.94%) |
5,456,581 (35.06%) |
Hugh Young |
10,148,699 (65.21%) |
5,414,432 (34.79%) |
3. Election of Auditor
The firm KPMG Auckland was appointed as the auditor of the Company for the fiscal year ending October 31, 2021 by a resolution passed by 15,576,021 (99.35%) votes for and 102,140 (0.65%) votes withheld.
Final voting results on all matters voted on at the meeting will be filed on SEDAR at www.sedar.com.
Important Information
Aberdeen Standard Investments ("ASI") is the marketing name in Canada for Aberdeen Standard Investments (Canada) Limited ("ASI Canada"), Aberdeen Standard Investments Luxembourg SA, Standard Life Investments Private Capital Ltd, SL Capital Partners LLP, Standard Life Investments Limited, Aberdeen Standard Alternative Funds Limited, and Aberdeen Capital Management LLC. ASI Canada is the administrator of the Company and is registered as an investment fund manager in Canada where required. ASI Canada is a wholly-owned subsidiary of Aberdeen Standard Investments Inc., the sub-administrator of the Company.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the company's portfolio. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results.
If you wish to receive this information electronically, please contact [email protected]
aberdeenfap.com
SOURCE Aberdeen Asia-Pacific Income Investment Company Limited
Aberdeen Standard Investments Inc., Investor Relations, 800-992-6341, [email protected], http://www.aberdeenfap.com
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