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Phaunos Timber Fund Limited - PTF Released 12:05 17-Jun-2016
Result of AGM
RNS Number : 5718B Phaunos Timber Fund Limited 17 June 2016
Phaunos Timber Fund Limited (the "Company")
RESULT OF AGMThe Board of Directors of the Company is pleased to announce that at its Annual General Meeting held on Friday 17 June 2016 the following resolutions were duly passed.
The votes received were as follows:-
Ordinary Resolutions For Against Withheld1. | Adoption of Financial Statements 31 December 2015 | 303,032,077 | 0 | 0 |
2. | Re-appoint Ernst & Young LLP as Auditors for 2016 | 303,032,077 | 0 | 0 |
3. | Directors' authority to fix Auditor's remuneration | 303,032,077 | 0 | 0 |
4. | Re-elect Sir Henry Studholme as a Director | 251,643,232 | 50,388,845 | 0 |
The directors have details of the shareholders who voted against this resolution and will take steps to further understand the reasons for their vote
Re-confirm the maximum remuneration of the Directors will not exceed £350,000 for 2016
300,311,000 0 1,721,077
To authorise the Company to make market acquisitions of its own Ordinary Shares
302,032,077 0 0
That the Company shall continue in business until its 2017 AGM
232,151,078 69,880,999 0
The Board is aware that in relation to Resolution 7, additional votes were received, both for and against the resolution. Having sought appropriate advice, the Board concluded that these votes were technically not eligible to be counted. Had these votes been included, the outcome of the result of Resolution 7 would have been the same.
Special ResolutionsAuthorisation to make market acquisitions of Company's own shares pursuant to a tender offer
302,011,077 21,000 0
To dis-apply pre-emption rights. 228,507,255 73,524,822 0
Further enquiries: Enquiries:
Stafford Capital Partners (Manager) michaelgoodfellow@staffordcp.com Michael Goodfellow +44 (0)20 7535 4915
Winterflood Investment Trusts (Corporate Broker)Joe Winkley +44 (0)20 3100 0301
Phaunos Timber Fund Limited (Chairman)Sir Henry Studholme info@phaunostimber.com
Notes to EditorsThe Company is a Guernsey-domiciled authorised closed-ended investment scheme authorized by the Guernsey Financial Services Commission under section 8 of The Protection of Investors (Bailiwick of Guernsey) Law, 1987 (as amended) and the Authorised Closed-ended Investment Schemes Rules 2008 made thereunder.
Its ordinary shares are listed on the Main Market of the London Stock Exchange. Its investment objective is to provide shareholders with attractive long term total returns, expected to be in the form of capital appreciation but with some income, through a diversified portfolio of timberland and timber-related investments.
Stafford Capital Partners Limited was founded in 2000 and has specialist investment teams in agriculture, infrastructure, private equity, sustainable capital, timber and venture capital. As at 31st March 2016 Stafford has over US$4.3bn under management and advice with US$2.0bn in timberland investments. Stafford was appointed as Manager on 1 July 2014. (www.staffordcp.com)
The Company's ticker is PTF. Website www.phaunostimber.com
This information is provided by RNS
The company news service from the London Stock Exchange
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Result of AGM - RNS
Phaunos Timber Fund Ltd. published this content on 17 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 June 2016 12:29:41 UTC.
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