Ashmore Global Opportunities has announced that shareholders have voted against the resolution to wind up the company.
Ashmore Global Opportunities has announced that shareholders have voted against the resolution to wind up the company.
Total votes cast were 45,421,048 of which 36,263,149 (80 per cent) were against.
Ashmore Global Opportunities is a closed-ended investment company incorporated and registered in Guernsey and listed on the London Stock Exchange. Its investment objective is to deploy capital in a diversified portfolio of global emerging market strategies which will be actively managed with a view to maximising total returns.
The company’s board had urged shareholders to vote against the wind-up because:
• The board believes the continuation of Ashmore Global Opportunities is in the best interests of the shareholders;
• Of the mechanism by which shareholders can realise a proportion of the NAV increase achieved in any given year. The board had proposed an annual partial capital return in order to enhance the company’s appeal and to assist in reducing the discount to NAV at which the company’s shares trade;
• The firm’s investment portfolio has evolved as expected since the IPO to provide a principal focus on special situations and has delivered resilient investment performance;
• The board considers it appropriate to provide the underlying investments the opportunity to perform given that the investment portfolio has recently become predominantly invested in special situations; and
• The board will continue to consider share repurchases in order to seek to mitigate NAV variance.
