TORONTO, April 29, 2021 /CNW/ -- Aberdeen Asia-Pacific
Income Investment Company Limited (TSX:FAP) (the "Company"),
a closed-end investment company trading on the Toronto Stock
Exchange, announced today the results of its Special and Annual
General Meeting of Shareholders (the "Meeting"), held on
April 29, 2021 (adjourned and
reconvened from April 22, 2021.)
In addition to the election of directors and the appointment of
auditors, at the Meeting, Shareholders were asked to consider the
re-domiciliation of the Company from the laws of the Cook Islands to the Laws of the Republic of
Singapore as a Variable Capital
Company (the "Re-domiciliation"), along with certain other
changes to facilitate and implement the Re-domiciliation.
The Company is pleased to announce that shareholders have
approved all resolutions. Upon the effective date of the
Re-domiciliation, the Company will be re-named "Aberdeen
Asia-Pacific Income Fund VCC". The Re-domiciliation is
expected to be completed prior to November
1, 2021.
The description of the Meeting proposals, the shareholders'
votes cast for and against each proposal at the Meeting are as
follows:
1. Special Resolution – Re-domiciliation
The Re-domiciliation, as described in the Management Information
Circular of the Company dated March 22,
2021 (the "Circular"), was approved by a special resolution
passed by 14,487,058 (93.09%) votes for and 1,076,073 (6.91%)
votes against.
2. (A) Fixing Number of Directors
The number of directors of the Company was fixed at four (4)
directors and, effective concurrently with the Re-domiciliation,
was fixed at six (6) directors, by an ordinary resolution passed by
14,445,626 (92.82%) votes for and 1,117,505 (7.18%) votes
against.
(B) Election of Directors
The first four (4) directors listed below and, effective
concurrently with the Re-domiciliation, the election of Henny
Muliany and Hugh Young as directors
of the Company, as described in the Circular, was approved by an
ordinary resolution passed as follow:
|
Director
|
Votes
For
|
Votes
Withheld
|
|
Radhika
Ajmera
|
14,398,993
(92.52%)
|
1,164,138
(7.48%)
|
|
William J.
Braithwaite
|
14,434,128
(92.75%)
|
1,129,003
(7.25%)
|
|
P. Gerald
Malone
|
10,180,712
(65.42%)
|
5,382,419
(34.58%)
|
|
Warren C.
Smith
|
10,183,877
(65.44%)
|
5,379,254
(34.56%)
|
|
Henny
Muliany
|
10,106,550
(64.94%)
|
5,456,581
(35.06%)
|
|
Hugh Young
|
10,148,699
(65.21%)
|
5,414,432
(34.79%)
|
3. Election of Auditor
The firm KPMG Auckland was appointed as the auditor of the
Company for the fiscal year ending October
31, 2021 by a resolution passed by 15,576,021 (99.35%) votes
for and 102,140 (0.65%) votes withheld.
Final voting results on all matters voted on at the meeting will
be filed on SEDAR at www.sedar.com.
Important Information
Aberdeen Standard Investments
("ASI") is the marketing name in Canada for Aberdeen Standard Investments
(Canada) Limited ("ASI Canada"),
Aberdeen Standard Investments Luxembourg SA, Standard Life
Investments Private Capital Ltd, SL Capital Partners LLP, Standard
Life Investments Limited, Aberdeen Standard Alternative Funds
Limited, and Aberdeen Capital Management LLC. ASI Canada is the
administrator of the Company and is registered as an investment
fund manager in Canada where
required. ASI Canada is a wholly-owned subsidiary of Aberdeen
Standard Investments Inc., the sub-administrator of the
Company.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The Company's investment return and
principal value will fluctuate so that an investor's shares may be
worth more or less than the original cost. Shares of closed-end
funds may trade above (a premium) or below (a discount) the net
asset value (NAV) of the company's portfolio. There is no assurance
that the Company will achieve its investment objective. Past
performance does not guarantee future results.
If you wish to receive this information
electronically, please contact
Investor.Relations@aberdeenstandard.com
aberdeenfap.com
SOURCE Aberdeen Asia-Pacific Income Investment Company
Limited
