As per the wishes of the Board, 36.8 million of the 41.1 million votes went against the resolution to wind up the company at the EGM held on 7 June.
The Company also advises that all resolutions in respect of the Ordinary Business as set out in the AGM Notice sent to shareholders dated 25 April 2012 were duly passed.
Jonathan Agnew, chairman of the Board, said: "AGOL offers shareholders unique access to emerging market special situations within the listed closed-end fund sector. Its manager, Ashmore, is a long-established and leading investor in emerging markets with a proven record in generating returns across a range of strategies.
“We believe that shareholders in AGOL are well-positioned to benefit from further embedded value in the underlying companies in AGOL’s portfolio as they move closer to capital and liquidity events.”
He added that the Board is to commit up to $20m to buy back the company’s shares given the price its shares are trading relative to its net asset value.
In 2011, the trust’s Board called an EGM after its discount control mechanism failed to stop its discount widening. At the end of 2010, its sterling share class was at a 25% discount to NAV.
