Results of AGM

RNS Number : 3217K

KKV Secured Loan Fund Limited

31 December 2020

 

31 December 2020

KKV Secured Loan Fund Limited

LEI: 2138007S3YRY3IUU4W39

Results of AGM

KKV Secured Loan Fund Limited (the "Company") is pleased to announce that at the Annual General Meeting (the "AGM") held at 09:00 GMT today, the Ordinary Class Meeting held at 09:05 GMT today and the C Class Meeting at 09:10 GMT today, all of the resolutions proposed were duly passed.  Further information on the votes cast on each resolution will be available on the Company's website shortly.

Resolution 1 of the AGM, to receive and consider the Company's annual report and financial statements for the year ended 30 June 2020 (the "2020 Annual Report"), has been adjourned until further notice following the delay to the publication of the 2020 Annual Report, as announced on 22 December 2020.

The Board notes the votes against Resolution 5 of the AGM (Appointment of the Company's auditors) for a total of 49,189,834 shares representing 20.94% of those shares voting and 9.94% of the issued share capital. The Board believes the level of votes against Resolution 5 was a consequence of a proxy advisor recommending voting against this resolution given the delay to the publication of the 2020 Annual Report and therefore being unable to fully analyse the auditors' fees. The Board believes that this will be resolved following the publication of the 2020 Annual Report, however, the Company will consult with its shareholders to understand and seek to address any concerns they may have with regard to Resolution 5.

No resolutions were put forward in respect of Mr John Falla's and Mr Paul Meader's re-appointment. Accordingly, they both stepped down from the Board at the conclusion of the AGM. Mr David Copperwaite has taken over as Audit Committee Chairman with immediate effect.

Mr Peter Niven, Chairman, has recently been granted a leave of absence due to ill-health. It is expected that Mr Peter Niven will be able to return to his position in the near future.

For further information please contact:

KKV Secured Loan Fund Limited Brett Miller	via the Company Secretary
BNP Paribas Securities Services S.C.A., Guernsey Branch Company Secretary	01481 750 853
Winterflood Securities Limited Neil Langford	020 3100 0000

 

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