{"id":61,"date":"2022-11-15T15:10:35","date_gmt":"2022-11-15T15:10:35","guid":{"rendered":"https:\/\/eealifeinvestors.co.uk\/?p=61"},"modified":"2022-11-18T11:18:40","modified_gmt":"2022-11-18T11:18:40","slug":"general-meetings-and-voting","status":"publish","type":"post","link":"https:\/\/eealifeinvestors.co.uk\/index.php\/2022\/11\/15\/general-meetings-and-voting\/","title":{"rendered":"General Meetings and Voting"},"content":{"rendered":"\n

Our votes count<\/strong>..
For shareholders to influence and maybe get involved in shaping the EEA Life Settlement Fund, we have to understand how we can exercise our vote and make a difference.

Currently shareholders may request the Directors to call a meeting, this should be done in writing, there is no template letter in the Articles.
A sensible approach might be to engage a local Guernsey solicitor to collate proxy voting instructions from holders based on draft resolutions to vote on.
A solicitor acting on shareholders behalf would then be able to represent us in person and put forward our proposal and vote %.

What can we request?<\/strong>
It seems most logical that the shareholders put forward a plan to either liquidate the company, at the very least a commitment to sell the remaining portfolio and distribute the resulting cash.

Special Resolutions <\/strong>are required to:
Remove the Manger, Custodian or increase the Maximum fees.

Winding up procedure<\/strong>
“The Company may be wound up when a special resolution is passed by the Company”

What % of NAV needs to Vote<\/strong>
“Shareholders representing not less than one-tenth of the Shares in issue may, in writing,
request the Directors to convene a meeting. The quorum for a general meeting for the purpose
of passing resolutions shall be two Shareholders entitled to vote present in person or by proxy
and holding not less than 5 per cent. of Shares for the time being in issue.”

but the Articles say for General Meetings<\/strong>..
“holding one twentieth of the Participating Shares for the time being in issue shall be a quorum for a meeting for the purpose of passing ordinary resolutions and special resolutions.”

and<\/strong>..
“Only Shareholders or their proxies may vote at general meetings of the Company. The
Management Shares do not carry any right to vote (except in relation to a resolution to
voluntarily wind up the Company or unless there are no Shares in issue in which case each
Management Share carries one vote).”

Summary<\/strong>
Written request for meeting
10% of NAV is required to request a meeting
5% of NAV is required to pass ordinary and special resolutions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Our votes count..For shareholders to influence and maybe get involved in shaping the EEA Life Settlement Fund, we have to understand how we can exercise our vote and make a difference. Currently shareholders may request the Directors to call a meeting, this should be done in writing, there is no template letter in the Articles. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-61","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t