Results of GM and AGM

abrdn New Dawn Invest Trust plc
23 October 2023
 

23 October 2023

 

abrdn New Dawn Investment Trust plc

Legal Entity Identifier: 5493002K00AHWEME3J36

Result of First General Meeting and Annual General Meeting

In connection with the proposals for a combination of abrdn New Dawn Investment Trust plc ("ABD" or the "Company") with Asia Dragon Trust plc ("Asia Dragon" or "DGN") by way of a scheme of reconstruction of the Company under Section 110 of the Insolvency Act 1986 (the "Scheme"), the Company is pleased to announce the result of the First General Meeting and the Annual General Meeting ("AGM").

Result of First General Meeting

The Company announces the special resolutions, which were put forward at the First General Meeting held today, have been approved by Shareholders.

First General Meeting Special Resolutions

Votes For (including Discretionary)

%

Votes Against

%

Votes Total

Votes Withheld

1. To approve the reclassification of the shares in the capital of the Company as shares with "A" rights and shares with "B" rights and to approve changes required to the Company's articles of association.

72,069,029

99.86%

100,185

0.14%

72,169,214

118,622

2. To approve the Scheme subject to certain conditions being satisfied.

72,068,137

99.86%

99,073

0.14%

72,167,210

120,626

 

Result of AGM

The Company further announces that at the AGM held earlier today, all resolutions were passed.

In relation to Resolutions 11 and 12 (authorities to allot shares and to disapply pre-emption rights), the relevant figure was 10,440,634 Ordinary Shares, being the lower of 10% of the Ordinary Shares in issue as at the date of the AGM Notice and as at the date of passing of these two Resolutions at the AGM.

In relation to Resolution 13 (authority to make market purchases of Ordinary Shares), the relevant figure was 15,650,511 Ordinary Shares, being the lower of 14.99% of the Ordinary Shares in issue at the date of the AGM Notice and as at the date of passing of the Resolution at the AGM.

The total number of proxy votes lodged was as follows:

AGM Resolutions

Votes For (including Discretionary)

%

Votes Against

%

Votes Total

Votes Withheld

1. Annual Report and Financial Statements

71,591,525

99.94%

39,607

0.06%

71,631,132

9,788

2. Directors' Remuneration Report

71,431,262

99.78%

158,499

0.22%

71,589,761

51,159

3. Directors' Remuneration Policy

71,412,023

99.74%

184,503

0.26%

71,596,526

44,393

4. Re-election of Ms M Sears

69,208,085

96.65%

2,402,110

3.35%

71,610,195

30,725

5. Re-election of Mr S Souchon

71,455,049

99.83%

122,897

0.17%

71,577,946

62,974

6. Re-election of Mr D Workman

69,156,181

96.61%

2,427,933

3.39%

71,584,114

56,806

7. Re-election of Mr H Young

68,837,702

96.13%

2,773,732

3.87%

71,611,434

29,486

8. Re-election of Ms N Yuen

71,487,173

99.83%

122,352

0.17%

71,609,525

31,394

9. Reappointment of auditor

71,404,112

99.80%

140,391

0.20%

71,544,503

96,417

10. Approval of auditor's remuneration

71,479,535

99.89%

80,549

0.11%

71,560,084

80,836

11. Authority to allot shares

71,517,801

99.88%

86,054

0.12%

71,603,855

37,064

12. Disapplication of pre-emption rights

71,444,194

99.83%

119,676

0.17%

71,563,870

77,049

13. Share buybacks

71,416,503

99.75%

182,043

0.25%

71,598,546

42,373

 

The Ordinary Shares will be disabled for settlement in CREST from 6:00 p.m. on 1 November 2023 and trading will be suspended from 7.30 a.m. on 2 November 2023. Following the classification of the Ordinary Shares on 7 November 2023, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 8 November 2023.

The full text of the special resolutions of the First General Meeting and the resolutions of the AGM, are set out in the Notice of First General Meeting and the Notice of AGM, respectively, contained in the Company's circular to Shareholders dated 22 September 2023 (the "Circular").

The Circular is available for viewing on the Company's website, www.newdawn-trust.co.uk and at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

 

For further information please contact:

abrdn New Dawn Investment Trust plc

Donald Workman

 

Contact via AFML

abrdn Fund Managers Limited

Maria Allen

Stephanie Hocking

 

 

+44 (0) 20 3680 0305

+44 (0) 7514 064 988

Panmure Gordon (UK) Limited

Alex Collins

Ashwin Kohli

Daphne Zhang

 

+44 (0) 20 7886 2500

 

 

General

The content of the Company's web-pages and the content of any website or pages which may be accessed through hyperlinks on the Company's web-pages, other than the content of the document referred to above, is neither incorporated into nor forms part of the above announcement.

 

 

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