In a second requisitioned general meeting in a month, investors voted 58% in favour of the board’s position, with 42% backing the managers’ proposals.
ThomasLloyd Global Asset Management insisted on holding a second general meeting, aiming to remove and replace the four board directors, with the investment manager refusing to withdraw its requisition request despite losing a continuation vote 58% to 42% late last month.
Of the votes cast in this meeting, approximately 69.3% of those cast by independent shareholders sided with the board. Shareholders representing approximately 53.7% of the trust’s total issued share capital supported the current board.
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Investors representing 92.3% of the trust’s total issued share capital voted in this second requisitioned general meeting.
The board laid out a new set of immediate priorities following the first continuation vote, which include the completion of a re-evaluation of its ‘RUMS’ solar park construction project in India.
The board will also focus on lifting the trust’s share suspension, finalising valuations, accounts, audits and the interim report, and ensuring the ongoing management of the trust’s operating assets.
