EGM Statement

RNS Number : 0920U

Acorn Income Fund Ld

15 December 2011

 



Acorn Income Fund Limited

Result of Extraordinary General Meeting

ZDP Share issue and other matters approved

15 December 2011

The Board of Acorn Income Fund Limited (the "Company") is pleased to announce that the Resolutions put to Shareholders at the Extraordinary General Meeting held earlier today were duly passed.

On 24 November 2011 the Company convened an Extraordinary General Meeting to consider proposals for the issue of zero dividend redeemable preference shares ("ZDP Shares"), an increase in the authorised share capital to create the ZDP Shares, the grant of powers of allotment (including, in certain circumstances, power to allot new Ordinary Shares at a discount to Net Asset Value per Ordinary Share), authority to sell Ordinary Shares from treasury at a discount to Net Asset Value per Ordinary Share in certain circumstances, authority to make market purchases of ZDP Shares and the waiver of pre-emption rights.  Certain of the above powers may be exercised in connection with a treasury share dealing policy.  A circular containing details of these matters was posted to Ordinary Shareholders on 24 November 2011.

All the resolutions were passed on a show of hands and no poll was demanded.  The final proxy voting position as received by the Company in respect of the Resolutions in advance of the meeting is set out below:

Votes cast /	For (i)		Against		% share capital voted (ii)
Resolution	Number	% shares voted	Number	% shares voted		Votes withheld (iii)
1 3,780,816	3,780,816	100%	0	0%	43.34%	0
2 3,780,816	3,780,816	100%	0	0%	43.34%	0
3 3,780,816	3,630,816	96.03%	150,000	3.97%	43.34%	0
4 3,780,816	3,630,816	96.03%	150,000	3.97%	43.34%	0
5 3,780,816	3,780,076	99.98	0	0%	43.34%	740
6 3,780,816	3,630,076	96.01%	150,000	3.97%	43.34%	740

Notes:

(i) Any proxy appointments which gave discretion to the Chairman have been included in the 'For' total.

(ii) Issued ordinary share capital (not including shares held in Treasury) at 13 December 2011: 8,724,790 Ordinary Shares.

(iii) A 'Vote Withheld' is not counted towards the votes cast 'For' or 'Against' a resolution.

The full text of the resolutions can be found in the Notice of Extraordinary General Meeting contained in the Circular dated 24 November 2011 which is available for viewing at the National Storage Mechanism which can be located at http://www.hemscott.com/nsm.do and from the Company's website www.premierassetmanagement.co.uk.

A further announcement regarding the proposed ZDP Share issue will be made in due course.

Terms defined in the circular issued by the Company on 24 November 2011 shall have the same meaning in this announcement. This announcement does not constitute an offer or invitation to subscribe for securities.

Enquiries:

Anson Fund Mangers Limited (Administrator and Company Secretary)

                                                                                                         Tel: [phone]

E&OE - in transmission

 

END

 

 

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