Result of AGM
City Merchants High Yield Trust Limited
Result of AGM
Result of the Annual General Meeting of City Merchants High Yield Trust Limited
held on 3 July 2014:
All of the resolutions put to shareholders at the Meeting were passed on a show
of hands.
Proxy votes lodged with the Registrar in respect of each resolution were as
follows:
Resolution Votes For Votes Against Votes Withheld
(including votes at
the discretion of
the Chairman)
Ordinary resolutions:
1. 18,800,872 1,000 27,137
2. 18,808,495 20,336 178
3. 18,808,941 20,065 3
Special
resolutions:
4. 18,770,533 43,549 14,927
5. 18,784,884 10,649 33,476
6. 18,339,204 489,804 0
Total Voting Rights were 77,861,327.
The full text of the resolutions passed was as follows:
Ordinary Resolutions:
The following Ordinary Resolutions were passed at the Annual General Meeting
held on 3 July 2014:
1. To receive the Annual Financial Report for the year ended 31 December 2013.
2. To reappoint the Auditor, Ernst & Young LLP, and authorise the Directors to
determine their Remuneration.
Special Resolutions:
3. THAT, in accordance with Article 158 of the Company's Articles of
Association, the Directors of the Company be and they are hereby released from
their obligation pursuant to such Article to convene a general meeting of the
Company within six months of the AGM at which a special resolution would be
proposed to wind up the Company.
4. THAT, pursuant to Article 14.1 of the Company's Articles of Association, the
Directors be and are hereby empowered to issue shares, up to 10% of the
existing shares in issue at the time of the AGM, without pre-emption.
5. THAT, pursuant to Article 8.2 of the Company's Articles of Association and
Article 57 of the Companies (Jersey) Law 1991 as amended (the Law), the Company
be generally and unconditionally authorised:
(a) to make purchases of its issued ordinary shares of no par value (Shares) to
be cancelled or held as treasury shares provided that:
(i) the maximum number of Shares hereby authorised to be purchased shall be
14.99% of the Company's issued ordinary shares, this being 11,386,602 on the
date of this notice;
(ii) the minimum price which may be paid for a Share is 1p;
(iii) the maximum price, exclusive of expenses, which may be paid for a Share
is an amount equal to 105% of the average of the middle market quotations for a
Share taken from the London Stock Exchange Daily Official List for the five
business days immediately preceding the day on which the Share is purchased;
and
(iv) the authority hereby conferred shall expire on the earlier of the
conclusion of the next AGM of the Company held after passing of this resolution
or 15 months from the date of the passing of this resolution, whichever is the
earlier.
6. THAT, the period of notice required for general meetings of the Company
(other than AGMs) shall not be less than 14 days.
3 July 2014
Contact:
Hilary Jones
R&H Fund Services (Jersey) Limited
Telephone: 01534 825323
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