Crystal Amber Fund Limited Result of EGM (9085D)
07 Marzo 2022 - 4:30PM
UK Regulatory
TIDMCRS
RNS Number : 9085D
Crystal Amber Fund Limited
07 March 2022
7 March 2022
Crystal Amber Fund Limited
(the "Company" or the "Fund")
Result of Extraordinary General Meeting
The Company announces that at its Extraordinary General Meeting
held earlier today, both ordinary resolutions set out in the Notice
of EGM dated 15 February 2022 were duly passed.
The breakdown of proxy voting percentages for both resolutions
(on a total votes cast basis) are as follows:
Total Votes Total % For Total Votes Total % Against Total Votes
For Against Withheld*
Resolution
1 48,677,512 69.08% 21,792,788 30.92% 0
------------ ------------ ------------ ---------------- ------------
Resolution
2 48,668,709 69.07% 21,796,932 30.93% 4,659
------------ ------------ ------------ ---------------- ------------
*Votes withheld are not included as a vote withheld is not a
vote in Law and is therefore not counted towards the proportion of
votes 'for' or 'against' a Resolution.
Accordingly, the Company will now pursue the Future Strategy
(Resolution 1), as set out in the circular sent to shareholders on
15 February 2022, and the New IMA will be adopted in accordance
with its terms (Resolution 2).
The Board notes the significant votes against the Resolutions,
which predominately comprised the votes from Saba Capital
Management L.P. ("Saba"). Last week, Saba advised that it was
prepared to amend its voting on the Resolutions on certain
conditions. The directors and their advisers considered these
conditions which would have necessitated changes to the incentive
arrangements for the Investment Manager and concluded that if
adopted, they could introduce unsatisfactory conflicts of interests
and would not have been in the best interests of all shareholders.
As the Resolutions have been duly passed, the directors do not
intend to take any further action in respect of such votes
against.
Defined terms used in this announcement shall have the same
meaning as in the circular posted to shareholders on 15 February
2022 unless otherwise defined herein.
For further enquiries please contact:
Crystal Amber Fund Limited
Chris Waldron (Chairman)
Tel: 01481 742 742
Allenby Capital Limited - Nominated Adviser
David Worlidge/Liz Kirchner
Tel: 020 3328 5656
Winterflood Securities - Broker
Joe Winkley/Neil Langford
Tel: 020 3100 0160
Crystal Amber Advisers (UK) LLP - Investment
Adviser
Richard Bernstein
Tel: 020 7478 9080
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END
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