Result of AGM
16 July 2024
ASHOKA WHITEOAK EMERGING MARKETS TRUST PLC (the “Company”)
Result of 2024 Annual General Meeting (the “AGM”)
Ashoka WhiteOak Emerging Markets Trust plc announces that at the Company's 2024 AGM held today, all resolutions were passed by way of a poll and the results of the poll are set out below.
Resolutions 1 to 10 (inclusive) were proposed as ordinary resolutions and resolutions 11 to 13 (inclusive) were proposed as special resolutions.
|
Resolution |
Votes For* |
% |
Votes Against |
% |
Total votes validly cast |
Total votes cast as % of issued share capital |
Vote Withheld ** |
|
|
1 |
Receive and adopt the Annual Report and Financial Statements for the period ended 31 March 2024 |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
2 |
Approve Directors’ Remuneration Report |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
3 |
Approve Directors’ Remuneration Policy |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
4 |
Appointment of external auditor |
17,366,996 |
100.00 |
0 |
0.00 |
17,366,996 |
52.90% |
2,000 |
|
5 |
Authorise the Directors to determine the auditor’s remuneration |
17,366,996 |
100.00 |
0 |
0.00 |
17,366,996 |
52.90% |
2,000 |
|
6 |
Elect Martin Shenfield as a Director |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
7 |
Elect Howard Pearce as a Director |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
8 |
Elect Tanit Curry as a Director |
17,366,996 |
100.00 |
0 |
0.00 |
17,366,996 |
52.90% |
2,000 |
|
9 |
Approval of Dividend Policy |
17,366,996 |
100.00 |
0 |
0.00 |
17,366,996 |
52.90% |
2,000 |
|
10 |
To authorise the allotment of Ordinary shares |
17,366,996 |
100.00 |
0 |
0.00 |
17,366,996 |
52.90% |
2,000 |
|
11 |
To authorise the disapplication of statutory pre-emption rights |
17,007,308 |
99.97 |
4,688 |
0.03 |
17,011,996 |
51.82% |
357,000 |
|
12 |
To authorise the Company to make market purchases of its own Ordinary shares |
17,368,996 |
100.00 |
0 |
0.00 |
17,368,996 |
52.90% |
0 |
|
13 |
That a general meeting (other than an Annual General Meeting) may be called on not less than 14 clear days’ notice |
17,366,996 |
99.99 |
2,000 |
0.01 |
17,368,996 |
52.90% |
0 |
* Includes discretionary votes
** A vote withheld is not a vote in law and is not counted in the calculation of the votes for or against a resolution.
For further information, please contact:
|
Company Secretary |
+44 20 7409 0181 |
|
WhiteOak Capital Partners Pte Ltd Prashant Khemka Fadrique Balmaseda Lim Wen Loong Ben Hayward
|
Via Buchanan |
|
Ellora Partners Mark Thompson Eddie Nissen Oliver Kenyon
|
+44 (0) 20 7016 6711 +44 (0) 20 7016 6713 +44 (0) 20 7016 6704
|
|
Buchanan |
|
|
Henry Harrison-Topham Henry Wilson George Beale Samuel Adams |
+44 (0) 20 7466 5000 |
LEI: 254900Z4X5Y7NTODRI75
Notes:
Every shareholder has one vote for every Ordinary Share held. As at 6.00 p.m. (UK time) on 12 July 2024, the share capital of the Company consisted of 32,831,795 Ordinary Shares with voting rights. The Company does not hold any shares in Treasury.
In accordance with Listing Rule 9.6.2 copies of all the resolutions passed, other than ordinary business, will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
About Ashoka WhiteOak Emerging Markets Trust plc
Ashoka WhiteOak Emerging Markets Trust plc (AWEMT) is a UK investment trust seeking to achieve long-term capital appreciation primarily through investing in a multi-cap portfolio of equities that provide exposure to global emerging markets. Advised by White Oak Capital Partners Pte. Ltd, founded by Prashant Khemka with leading Emerging Markets investment experience. White Oak Capital Group has delivered an exceptional track record for its other strategies, and has £5.9 billion in assets under management or advisory1. Analytical approach integral to disciplined research process underpinned by proprietary frameworks OpcoFinco™ for valuation and ABLExTM for ESG research. The team at WhiteOak believes that emerging markets present potential for higher alpha. EM markets remain under-researched and inefficient. AWEM leverages WhiteOak's investment approach to capture the higher alpha potential in these markets. No fixed management fee. Manager remuneration is aligned with alpha generation and hence shareholders' interest. The Investment Manager is remunerated solely as a function of outperformance over the benchmark.
1 Data as at 30th June 2024. AUM data refers to aggregate assets under management or investment advisory for White Oak Group.