23 October 2023
abrdn New Dawn Investment Trust plc
Legal Entity Identifier: 5493002K00AHWEME3J36
Result of First General Meeting and Annual General Meeting
In connection with the proposals for a combination of abrdn New Dawn Investment Trust plc ("ABD" or the "Company") with Asia Dragon Trust plc ("Asia Dragon" or "DGN") by way of a scheme of reconstruction of the Company under Section 110 of the Insolvency Act 1986 (the "Scheme"), the Company is pleased to announce the result of the First General Meeting and the Annual General Meeting ("AGM").
Result of First General Meeting
The Company announces the special resolutions, which were put forward at the First General Meeting held today, have been approved by Shareholders.
| First General Meeting Special Resolutions | Votes For (including Discretionary) | % | Votes Against | % | Votes Total | Votes Withheld |
| 1. To approve the reclassification of the shares in the capital of the Company as shares with "A" rights and shares with "B" rights and to approve changes required to the Company's articles of association. | 72,069,029 | 99.86% | 100,185 | 0.14% | 72,169,214 | 118,622 |
| 2. To approve the Scheme subject to certain conditions being satisfied. | 72,068,137 | 99.86% | 99,073 | 0.14% | 72,167,210 | 120,626 |
Result of AGM
The Company further announces that at the AGM held earlier today, all resolutions were passed.
In relation to Resolutions 11 and 12 (authorities to allot shares and to disapply pre-emption rights), the relevant figure was 10,440,634 Ordinary Shares, being the lower of 10% of the Ordinary Shares in issue as at the date of the AGM Notice and as at the date of passing of these two Resolutions at the AGM.
In relation to Resolution 13 (authority to make market purchases of Ordinary Shares), the relevant figure was 15,650,511 Ordinary Shares, being the lower of 14.99% of the Ordinary Shares in issue at the date of the AGM Notice and as at the date of passing of the Resolution at the AGM.
The total number of proxy votes lodged was as follows:
| AGM Resolutions | Votes For (including Discretionary) | % | Votes Against | % | Votes Total | Votes Withheld |
| 1. Annual Report and Financial Statements | 71,591,525 | 99.94% | 39,607 | 0.06% | 71,631,132 | 9,788 |
| 2. Directors' Remuneration Report | 71,431,262 | 99.78% | 158,499 | 0.22% | 71,589,761 | 51,159 |
| 3. Directors' Remuneration Policy | 71,412,023 | 99.74% | 184,503 | 0.26% | 71,596,526 | 44,393 |
| 4. Re-election of Ms M Sears | 69,208,085 | 96.65% | 2,402,110 | 3.35% | 71,610,195 | 30,725 |
| 5. Re-election of Mr S Souchon | 71,455,049 | 99.83% | 122,897 | 0.17% | 71,577,946 | 62,974 |
| 6. Re-election of Mr D Workman | 69,156,181 | 96.61% | 2,427,933 | 3.39% | 71,584,114 | 56,806 |
| 7. Re-election of Mr H Young | 68,837,702 | 96.13% | 2,773,732 | 3.87% | 71,611,434 | 29,486 |
| 8. Re-election of Ms N Yuen | 71,487,173 | 99.83% | 122,352 | 0.17% | 71,609,525 | 31,394 |
| 9. Reappointment of auditor | 71,404,112 | 99.80% | 140,391 | 0.20% | 71,544,503 | 96,417 |
| 10. Approval of auditor's remuneration | 71,479,535 | 99.89% | 80,549 | 0.11% | 71,560,084 | 80,836 |
| 11. Authority to allot shares | 71,517,801 | 99.88% | 86,054 | 0.12% | 71,603,855 | 37,064 |
| 12. Disapplication of pre-emption rights | 71,444,194 | 99.83% | 119,676 | 0.17% | 71,563,870 | 77,049 |
| 13. Share buybacks | 71,416,503 | 99.75% | 182,043 | 0.25% | 71,598,546 | 42,373 |
The Ordinary Shares will be disabled for settlement in CREST from 6:00 p.m. on 1 November 2023 and trading will be suspended from 7.30 a.m. on 2 November 2023. Following the classification of the Ordinary Shares on 7 November 2023, the Reclassified Shares will be suspended from listing at 7.30 a.m. on 8 November 2023.
The full text of the special resolutions of the First General Meeting and the resolutions of the AGM, are set out in the Notice of First General Meeting and the Notice of AGM, respectively, contained in the Company's circular to Shareholders dated 22 September 2023 (the "Circular").
The Circular is available for viewing on the Company's website, www.newdawn-trust.co.uk and at the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
For further information please contact:
| abrdn New Dawn Investment Trust plc Donald Workman
| Contact via AFML |
| abrdn Fund Managers Limited Maria Allen Stephanie Hocking
|
+44 (0) 20 3680 0305 +44 (0) 7514 064 988 |
| Panmure Gordon (UK) Limited Alex Collins Ashwin Kohli Daphne Zhang |
+44 (0) 20 7886 2500
|
General
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