Invesco Bond Income Plus Ltd - Result of AGM
PR Newswire
London, June 27
Result of the Annual General Meeting ('AGM') of
Invesco Bond Income Plus Limited (the 'Company')
held on 27 June 2023
The Company confirms that all resolutions set out in the Notice of Meeting for the AGM of the Company held on 27 June 2023 were duly passed by shareholders on a poll.
The results of the poll for each resolution were as follows:
| VOTES FOR (including votes at the discretion of the Chair) | % | VOTES AGAINST | % | VOTES TOTAL | % of ISC VOTED | VOTES WITHHELD | |
| Resolution 1 | 33,416,625 | 99.83 | 57,859 | 0.17 | 33,474,484 | 18.84 | 10,169 |
| Resolution 2 | 32,849,746 | 98.75 | 417,413 | 1.25 | 33,267,159 | 18.72 | 217,494 |
| Resolution 3 | 33,417,486 | 99.83 | 57,859 | 0.17 | 33,475,345 | 18.84 | 9,308 |
| Resolution 4 | 33,145,473 | 99.09 | 303,711 | 0.91 | 33,449,184 | 18.82 | 35,469 |
| Resolution 5 | 33,292,540 | 99.62 | 127,120 | 0.38 | 33,419,660 | 18.81 | 64,993 |
| Resolution 6 | 32,068,192 | 96.63 | 1,117,209 | 3.37 | 33,185,401 | 18.67 | 299,252 |
| Resolution 7 | 32,051,756 | 96.58 | 1,133,645 | 3.42 | 33,185,401 | 18.67 | 299,252 |
| Resolution 8 | 32,048,482 | 96.57 | 1,136,919 | 3.43 | 33,185,401 | 18.67 | 299,252 |
| Resolution 9 | 32,034,496 | 96.53 | 1,150,905 | 3.47 | 33,185,401 | 18.67 | 299,252 |
| Resolution 10 | 32,075,598 | 96.67 | 1,103,224 | 3.33 | 33,178,822 | 18.67 | 305,831 |
| Resolution 11 | 33,061,615 | 99.01 | 329,084 | 0.99 | 33,390,699 | 18.79 | 89,954 |
| Resolution 12 | 33,037,809 | 98.86 | 381,375 | 1.14 | 33,419,184 | 18.81 | 65,469 |
| Resolution 13 | 30,784,980 | 92.21 | 2,600,623 | 7.79 | 33,385,603 | 18.79 | 99,050 |
| Resolution 14 | 33,318,281 | 99.53 | 155,790 | 0.47 | 33,474,071 | 18.84 | 10,582 |
| Resolution 15 | 33,285,918 | 99.47 | 176,973 | 0.53 | 33,462,891 | 18.83 | 21,762 |
| Resolution 16 | 30,005,445 | 90.43 | 3,173,776 | 9.57 | 33,179,221 | 18.67 | 305,432 |
The full text of the resolutions passed was as follows:
Ordinary Resolutions:
1. To receive the annual financial report for the year ended 31 December 2022.
2. To approve the Report on Directors' Remuneration and Interests.
3. To approve the Company's Dividend Payment Policy to pay four quarterly dividends to shareholders in May, August, November and February in respect of each accounting year.
4. To re-appoint PricewaterhouseCoopers CI LLP as the Company's auditor.
5. To authorise the Audit Committee to determine the remuneration of the auditor.
6. To re-elect Tim Scholefield a Director of the Company.
7. To re-elect Heather MacCallum a Director of the Company.
8. To re-elect Tom Quigley a Director of the Company.
9. To re-elect Caroline Dutot a Director of the Company.
10. To re-elect Christine Johnson a Director of the Company.
Special Business:
Ordinary Resolution
11. 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.
Special Resolutions
12. 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.
13. THAT, pursuant to Article 14.1 of the Company's Articles of Association, and in addition to any authority granted under Resolution 12 above, 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.
14. 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 26,431,506;
(ii) the minimum price which may be paid for a Share is 1p;
(iii) the maximum price which may be paid for a share must not be more than the higher of:
(i) 5 per cent. above the average of the mid-market values of the Shares for the five business days before the purchase is made; and
(ii) the higher of the price of the last independent trade in the shares and the highest then current independent bid for the Shares on the London Stock Exchange;
(iv) any purchase of shares will be made in the market for cash prices below the prevailing net asset value per share (as determined by the Directors);
(v) 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.
15. THAT, the period of notice required for general meetings of the Company (other than AGMs) shall not be less than 14 days.
16. THAT, the maximum annual aggregate remuneration payable to the Directors under article 98 of the Company's Articles of Association be and is hereby increased from £185,000 to £250,000.
The Company has 177,702,596 ordinary shares of no par value in issue. On a poll these carry one vote per share and accordingly the total voting rights are 177,702,596. The above table represents the number of votes registered.
A copy of the poll results for the AGM will also be available on the Company's website:
www.invesco.co.uk/bips
In accordance with Listing Rule 9.6.2, copies of the resolutions that were passed at the annual general meeting, which do not constitute ordinary business will shortly be available for inspection via the National Storage Mechanism:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Board & Committee Composition and Senior Independent Director
The Company confirms that, as previously announced, Kate Bolsover retired from the Board at the conclusion of the AGM. Heather MacCallum has been appointed Senior Independent Director on Kate's retirement and Caroline Dutot has taken over the Chair of the Nomination and Remuneration Committee.
27 June 2023
Contact:
Hilary Jones
JTC Fund Solutions (Jersey) Limited
Telephone: 01534 700000
