Utilico Emerging Markets Trust shareholders approve continuation

LONDON - Utilico Emerging Markets Trust plc (UEM) announced Tuesday that shareholders overwhelmingly approved both resolutions at its General Meeting, including the continuation of the company as presently constituted and amendments to its articles of association.

The continuation resolution received 97.63% approval, while the amendment to the company’s articles of association garnered 97.65% support, according to a press release statement from the company.

The meeting follows UEM’s August 7 announcement of initiatives aimed at increasing demand for its shares and enhancing their market rating. These proposals were detailed in a circular published on August 15.

"Following a further period of strong performance, the Board is delighted with the overwhelming support that shareholders have shown in passing both resolutions today and looks forward to UEM continuing to build on its 20-year record of outperformance and its progressive dividend policy," said Mark Bridgeman, Chairman of UEM.

The company’s joint portfolio managers, Charles Jillings and Jacqueline Broers, noted they were pleased with shareholder attendance at the meeting, where they presented an overview of UEM’s investment portfolio and strategy.

UEM focuses on emerging markets investments and has maintained a progressive dividend policy. The trust’s initiatives announced last month aim to provide greater transparency and enhance shareholder value, according to the company.

The proxy voting figures showed that 112,693,109 votes (97.63%) were cast in favor of the continuation resolution, with 2,738,829 votes (2.37%) against. For the amendment to the articles of association, 112,646,800 votes (97.65%) were in favor, with 2,706,741 votes (2.35%) against.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.