News Column

Result of AGM

July 3, 2014



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 JonesR&H Fund Services (Jersey) Limited Telephone: 01534 825323 END The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.




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