In the 12 months to 30 June 2007, Fidelity gave instructions to vote as follows:
- 'For' all the resolutions submitted by management at 3,565 general meetings.
- 'Against' management on one or more resolutions at 775 general meetings.
- There were a further 117 general meetings where FIL did not cast a vote. This was because if we had voted, the shares could not have been sold for a certain period of time prior to the meeting, known as 'share blocking'. This restricts liquidity which in turn can have a negative impact on the performance of affected funds.
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Comparison of Annual Voting Activity
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|
|
2006 - 07
|
2005 - 06
|
| Meetings voted with management |
3,565
|
77%
|
3,537
|
76%
|
| Meetings voted against management on one or more proposals |
775
|
17%
|
610
|
13%
|
| Meetings with abstentions on one or more proposals |
203
|
4%
|
248
|
5%
|
| Meetings with shareblocking |
117
|
3%
|
257
|
6%
|
| Totals |
4,660
|
4,652
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This information is additional to the voting record already disclosed by FIL's US affiliate, Fidelity Management & Research Co.
If you have any questions relating to the voting information set out below, please call Donald Cassidy on (44) 207 961 4925 or email donald.cassidy@fil.com.
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