Aberdeen Global Income Fund, Inc. Announces Results Of Annual Meeting Of Shareholders And Changes To Board Of Directors

Rhea-AI Summary

The Aberdeen Global Income Fund (NYSE American: FCO) held its Annual Meeting of Shareholders on April 29, 2021. Shareholders re-elected William J. Potter as Class II Director and approved the continuation of terms for Directors P. Gerald Malone and Neville J. Miles. Peter D. Sacks retired as a director, and Radhika Ajmera was appointed as a Class III Director. A quorum was achieved with 69.32% of shares voted from the outstanding 8,736,312 shares. The Board expressed gratitude to Mr. Sacks for his contributions during his tenure.

Positive

• Re-election of William J. Potter strengthens board continuity.
• Appointment of Radhika Ajmera brings fresh perspectives.
• Majority shareholder participation (69.32%) indicates strong investor engagement.

Negative

• Retirement of Peter D. Sacks raises concerns about experience gaps in the board.

PHILADELPHIA, April 29, 2021 /PRNewswire/ -- Aberdeen Global Income Fund, Inc. (the "Fund") (NYSE American: FCO) held its Annual Meeting of Shareholders (the "Meeting") on April 29, 2021.  At the Meeting, shareholders of the Fund voted to re-elect one Class II Director to the Board of Directors and to approve the continuation of the term of two Directors under the Fund's Corporate Governance Policies.

As of the record date, March 5, 2021, the Fund had outstanding 8,736,312 shares of common stock. 69.32% of outstanding common stock were voted representing a quorum.

The description of the proposal and number of shares voted at the Meeting are as follows:

To elect one Class II Director to the Board of Directors:

	Votes For	Votes Against/Withheld	Votes Abstained
William J. Potter	5,823,925	141,527	90,449

 

To approve the continuation of Term for two Directors under the Corporate Governance Policies

	Votes For	Votes Against/Withheld	Votes Abstained
P. Gerald Malone	5,837,201	129,272	89,429
Neville J. Miles	5,828,014	141,972	85,916

 

Also effective at the shareholder meeting on April 29, 2021, Peter D. Sacks retired from the Fund pursuant to the Fund's retirement policy. The Board would like to extend its sincere gratitude to Mr. Sacks and acknowledge the invaluable contributions he has made to the Fund during his tenure and wish him the best of success in all his future endeavours.

In light of the foregoing, the Board has approved the appointment of Ms. Radhika Ajmera as a Class III Director. Directors whose term of office continued beyond the Meeting are as follows: Neville Miles, Moritz Sell, Radhika Ajmera, P. Gerald Malone, William Potter and Martin Gilbert. Effective upon the retirement of Mr. Sacks, the Board appointed Mr. Sell, an Independent Director, to serve in the role of Audit and Valuation Committee Chair.

In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers:  Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Aberdeen Standard Alternative Funds Limited.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

If you wish to receive this information electronically, please contact InvestorRelations@aberdeenstandard.com

aberdeenfco.com

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SOURCE Aberdeen Global Income Fund, Inc.

FAQ

What were the results of the Aberdeen Global Income Fund's Annual Meeting on April 29, 2021?

At the Annual Meeting, shareholders re-elected William J. Potter and approved the continuation of terms for Directors P. Gerald Malone and Neville J. Miles, while Radhika Ajmera was appointed as a new Class III Director.

How many shares of the Aberdeen Global Income Fund were voted at the meeting?

69.32% of the outstanding 8,736,312 shares of common stock were voted at the meeting.

Who retired from the board during the Annual Meeting?

Peter D. Sacks retired from the board according to the Fund's retirement policy.

What is the significance of Radhika Ajmera's appointment as a director?

Radhika Ajmera's appointment as a Class III Director is expected to bring fresh perspectives to the board.