TIDMJPEL
RNS Number : 3120T
JPEL Private Equity Limited
23 November 2021
JPEL Private Equity Limited
Ground Floor
Cambridge House
Le Truchot, St Peter Port
Guernsey, GY1 1WD
www.jpelonline.com
JPEL ANNOUNCES RESULTS OF AGM
* * *
GUERNSEY, 23 NOVEMBER 2021
JPEL Private Equity Limited (the "Company") announces that at
the Annual General Meeting ("AGM") of the Company held on 23
November 2021, all resolutions put to shareholders at the AGM were
duly passed.
SUMMARY OF RESOLUTIONS PROPOSED AT AGM
SUMMARY OF RESOLUTIONS TO BE PROPOSED
The following summarises all of the resolutions the Company
sought approval for at the AGM.
Special Resolutions
1. To renew the Company's authority to make purchases of up to
15 per cent. of its own issued Shares pursuant to any proposed
Tender Offer.
2. To renew the Company's general authority to make market
purchases of up to 14.99 per cent. of its own issued Shares.
Ordinary Resolutions
3. To approve and adopt the Annual Report and Financial
Statements of the Company for the year ended 30 June 2021.
4. To re-elect PricewaterhouseCoopers CI LLP as Auditors to the Company.
5. To re-authorise the Directors to determine the Auditors' remuneration.
6. To re-authorise and agree the remuneration of the Directors
in accordance with the Articles of Incorporation.
7. To re-elect Christopher P. Spencer as a non-executive,
independent director of the Company, who retires by rotation.
8. To re-elect Anthony (Tony) Dalwood as a non-executive,
independent director of the Company, who retires by rotation.
9. To re-elect Sean Hurst as a non-executive, independent
director of the Company, who retires by rotation.
Below, please find a summary of all votes received for JPEL's
AGM:
In Favour Discretion Against Withheld
Resolution Votes %age Items Votes %age Items Votes %age Items Votes Items
----------------- ----- ------ ------ ----- ------ ----------- ----- ------ ------ ------
1 13,286,973 100 8 0 0 0 0 0 0 0 0
2 13,286,973 100 8 0 0 0 0 0 0 0 0
3 13,286,973 100 8 0 0 0 0 0 0 0 0
4 13,286,973 100 8 0 0 0 0 0 0 0 0
5 13,286,973 100 8 0 0 0 0 0 0 0 0
6 13,286,973 100 8 0 0 0 0 0 0 0 0
7 10,098,227 76 7 0 0 0 3,188,746 24 1 0 0
8 13,286,973 100 8 0 0 0 0 0 0 0 0
9 13,286,973 100 8 0 0 0 0 0 0 0 0
----------------- ----- ------ ------ ----- ------ ----------- ----- ------ ------ ------
The Board has considered the results of the AGM today and notes
the level of votes cast against resolution 7 (the re-election of
Christopher P. Spencer) by a small number of shareholders.
We have engaged with our major shareholders ahead of the vote
and understand their views on these matters and the differing
philosophies they apply.
Following the outcome of today's vote, we will contact
shareholders to discuss these matters again and will keep best
practice in these areas under review. In accordance with the
provisions of the 2019 AIC Code of Corporate Governance, we shall
provide an update on this engagement process over the coming
months.
Shareholders will also note that John Loudon has decided not to
put himself forward for re-election as a director and stepped down
from the Board immediately prior to the AGM. The remaining
Directors would like the express their gratitude and thanks to Mr
Loudon for the service that he has provided to the Company since
its inception, and they wish him well with his future
endeavours.
* * *
About JPEL Private Equity Limited
JPEL Private Equity Limited is a Guernsey registered and
incorporated, London Stock Exchange-listed, closed-ended investment
company (LSE: JPEL) designed primarily to invest in the global
private equity market. The investment objective of the Company is
to achieve both short and long-term capital appreciation by
investing in a well-diversified portfolio of private equity fund
interests and by capitalising on the inefficiencies of the
secondary private equity market.
ENQUIRIES:
FCF JPEL Management LLC
JPELClientService@fortress.com
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END
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