Results of AGM and Separate Class Meeting

RNS Number : 7882N

JPEL Private Equity Limited

28 October 2016

 

JPEL Private Equity Limited

PO Box 60

Carinthia House

9-12 The Grange

St Peter Port

Guernsey GY1 4BF

www.jpelonline.com

JPEL ANNOUNCES RESULTS OF AGM and separate class meeting

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GUERNSEY, 28 OCTOBER 2016

JPEL Private Equity Limited (the "Company") announces that at the Annual General Meeting ("AGM") of the Company and the separate class meeting of holders of US$ Equity Shares ("Separate Class Meeting") held on 28 October 2016, nine of the resolutions put to shareholders at the AGM were duly passed and the resolution put to holders of US$ Equity Shares at the Separate Class Meeting was passed.  Resolution no. 3 (as described below) was not passed at the AGM.

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SUMMARY OF RESOLUTIONS PROPOSED AT AGM AND SEPARATE CLASS MEETING

SUMMARY OF RESOLUTIONS  

The following summarises all of the resolutions that were approved at the Annual General Meeting.  

Special Resolutions

1.          To renew the Company's authority to make purchases of up to 15 per cent. of each class of its own issued shares pursuant to any proposed Tender Offer.

2.          To renew the Company's general authority to make market purchases of up to 14.99 per cent. of each class of its own issued Shares.

4.          To adopt new Articles of Incorporation of the Company.

Ordinary Resolutions

5.          To approve the appointment of Sean Hurst as a non-executive independent Director of the Company.

6.          To approve and adopt the Annual Report and Financial Statements of the Company for the year ended 30 June 2015.

7.          To approve and adopt the Annual Report and Financial Statements of the Company for the year ended 30 June 2016.

8.          To re-elect PricewaterhouseCoopers CI LLP as Auditors to the Company.

9.          To re-authorise the Directors to determine the Auditors' remuneration.

10.        To re-authorise and agree the remuneration of the Directors in accordance with the Articles of Incorporation.

The following special resolution was not passed at the Annual General Meeting.

3.          To renew the disapplication of the pre-emption rights for up to 10 per cent. of each class of its own issued Shares as set out in the Articles of Incorporation.

The following summarises the special resolution which was approved at the Separate Class Meeting.

1.          To approve the proposals in the new Articles of Incorporation which vary the rights of US$ Equity Shareholders by the inclusion of provisions authorising the Company to redeem some of its issued Equity Shares on a quarterly basis.

Below, please find a summary of all votes received for JPEL's AGM:

Resolution	In Favor	%	Discretion	%	Against	%	Withheld	%
1	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
2	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
3	62,240,186	26.3%	0	0.0%	174,619,151	73.7%	11,250	0.0%
4	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
5	236,859,337	100.0%	11,250	0.0%	0	0.0%	0	0.0%
6	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
7	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
8	232,831,976	98.3%	0	0.0%	0	0.0%	4,038,611	1.7%
9	236,870,587	100.0%	0	0.0%	0	0.0%	0	0.0%
10	157,180,719	66.4%	0	0.0%	38,387,109	16.2%	41,302,759	17.4%

Below, please find a summary of all votes received for JPEL's Separate Class Meeting:

Resolution	In Favor	%	Discretion	%	Against	%	Withheld	%
1	203,870,829	100.0%	2	0.0%	0	0.0%	0	0.0%

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About JPEL Private Equity Limited

JPEL Private Equity Limited is a Guernsey registered and incorporated, London Stock Exchange-listed, closed-ended investment company (LSE: JPEL) designed primarily to invest in the global private equity market.  The investment objective of the Company is to achieve both short and long-term capital appreciation by investing in a well-diversified portfolio of private equity fund interests and by capitalising on the inefficiencies of the secondary private equity market.  

ENQUIRIES:

FCF JPEL Management LLC

[e-mail]

Rosemary DeRise

[phone]

[e-mail] 

Samantha Ladd Sughrue

[phone]  

[e-mail]

 

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