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14 January 2021
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the "Company")
Results of Extraordinary General Meeting
The Company is pleased to announce that at the Extraordinary General Meeting held today, 14 January 2021, the ordinary resolution as detailed below, was passed by shareholders on a poll and a summary of the results will be made available on the Company's website at http://www.lbow.co.uk/.
In accordance with LR 9.6.18, details of the resolution passed are as follows:
| Ordinary Resolution | Votes For (including discretionary) | Votes Against | Votes Withheld* | ||
| That the New Investment Objective and Investment Policy of the Company as set out in Part 3 of the circular to Shareholders dated 16 December 2020 of which this notice forms part (the "Circular") be adopted as the investment objective and investment policy of the Company with immediate effect and the Current Investment Objective and Investment Policy be and is hereby replaced. | 64,946,482 | 76.20% | 20,279,986 | 23.80% | 13,469 |
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "for" or "against" the Resolution.
The Board, however, notes the votes against the ordinary resolution, which equated to 23.80% of the total shares voted by proxy. The Board, through the Chairman, investment manager (ICG Alternative Investment Limited) and broker (Cenkos Securities plc), has been in continuous dialogue with major shareholders, including the significant dissenting shareholder whose votes represented nearly all of the dissenting vote against the ordinary resolution. The Board was aware of the dissenting shareholder's views prior to the publication of the circular convening the Extraordinary General Meeting, but with other shareholder feedback indicating overwhelming support for the ordinary resolution, as subsequently demonstrated by the 76.20% vote in favour of the total shares voted, took the decision to proceed with publication of the circular to put the ordinary resolution to shareholder vote. The dissenting shareholder wanted the Company to continue with its then current investment objective and investment policy and to be managed by the existing investment manager. The Board will continue to engage with shareholders following the introduction of the Company's new investment objective and investment policy and strategy which are now effective.
The full text of the Ordinary Resolution is set out in the Notice of Extraordinary General Meeting dated 16 December 2020.
In accordance with Listing Rule 9.6.2, the full text of the resolution passed has been submitted to the National Storage Mechanism together with the Notice of Extraordinary General Meeting and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information, please contact:
| Ocorian Administration (Guernsey) Limited: | |
| Anna Storey | +44 (0)14 8174 2742
|
| Cenkos Securities plc: | |
| Will Rogers | +44 (0)20 7397 1920 |
| Maitland Consultancy Limited: | |
| Sam Turvey
ICG Longbow: Martin Wheeler David Mortimer | +44 (0)20 7379 5151
+44 (0)20 3201 7502 +44 (0)20 3201 7532 |
Further information on the Company can be found on its website at http://www.lbow.co.uk/
ICG Longbow LEI: 2138008BKBH3OP2CA764
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