Aberdeen Asset Management Stewardship Disclosure - The North ...

Aberdeen Asset Management Stewardship Disclosure Global voting activity June 2017

Overall global voting statistics for June 2017 For Management

Against Management/Withhold

Abstain

No vote

#Meetings

% of meetings with at least one resolution voted against management

#Resolutions

#

%

#

%

#

%

#

%

Asia ex Japan

226

39

2228

1981

88.9

223

10.0

5

0.2

19

0.9

Japan

289

35

3782

3615

95.6

167

4.4

0

0.0

0

0.0

55

49

1100

1045

95.0

40

3.6

8

0.7

7

0.6

North America

117

82

1408

1036

73.6

312

22.2

2

0.1

58

4.1

Europe ex UK

49

61

675

485

71.9

124

18.4

2

0.3

64

9.5

UK

98

24

1201

1151

95.8

48

4.0

2

0.2

0

0.0

Region

Emerging markets ex Asia

For Resolution issue

Against/Withhold

Abstain

No vote

#Resolutions

#

%

#

%

#

%

#

%

Board elections

6178

5495

88.9

610

9.9

16

0.3

57

0.9

Remuneration

576

365

63.4

198

34.4

0

0.0

13

2.3

Capital structure

755

625

82.8

126

16.7

0

0.0

4

0.5

74

52

70.3

22

29.7

0

0.0

0

0.0

333

305

91.6

28

8.4

0

0.0

0

0.0

1950

1854

95.1

69

3.5

1

0.1

26

1.3

Anti-takeover measures Takeover/merger Routine/other business

Shareholder-proposed resolutions Shareholder proposals

Preferred/Bondholder Meetings Preferred/Bondholder

1

For

Against/Withhold

Abstain

No vote

#Resolutions

#

%

#

%

#

%

#

%

435

213

49.0

174

40.0

0

0.0

48

11.0

For Management

Against Management/Withhold

Abstain

No vote

#Resolutions

#

%

#

%

#

%

#

%

18

13

72.2

5

27.8

0

0.0

0

0.0

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name 3i Group plc

AA plc

2

Meeting Date Country 29/06/2017 United Kingdom

08/06/2017 United Kingdom

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect Jonathan Asquith as Director

For

For

6 Re-elect Caroline Banszky as Director

For

For

7 Re-elect Simon Borrows as Director

For

For

8 Elect Stephen Daintith as Director

For

For

9 Re-elect Peter Grosch as Director

For

For

10 Re-elect David Hutchison as Director

For

For

11 Re-elect Simon Thompson as Director

For

For

12 Re-elect Julia Wilson as Director

For

For

13 Reappoint Ernst & Young LLP as Auditors

For

For

14 Authorise Board Acting Through the Audit and Compliance Committee to Fix Remuneration of Auditors

For

For

15 Authorise EU Political Donations and Expenditure

For

For

16 Approve Increase in the Aggregate Annual Limit of Fees Payable to Directors

For

For

17 Authorise Issue of Equity with Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights

For

For

19 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

20 Authorise Market Purchase of Ordinary Shares

For

For

21 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Approve Final Dividend

For

For

4 Re-elect Bob Mackenzie as Director

For

For

5 Re-elect Martin Clarke as Director

For

For

6 Re-elect John Leach as Director

For

For

7 Re-elect Andrew Miller as Director

For

For

8 Re-elect Andrew Blowers as Director

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

10 Re-elect Suzi Williams as Director

For

For

11 Reappoint Ernst & Young LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

9 Re-elect Simon Breakwell as Director

Aberdeen Asset Management PLC

Aberdeen Asset Management PLC

Aberdeen New Thai Investment Trust PLC

3

19/06/2017 United Kingdom

19/06/2017 United Kingdom

28/06/2017 United Kingdom

Court

Special

Annual

For

For

16 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Approve Scheme of Arrangement

For

Do Not Vote

1 Approve Scheme of Arrangement

For

For

1 Approve Matters Relating to the All-Share Merger of Standard Life plc and Aberdeen Asset Management plc

For

Do Not Vote

1 Approve Matters Relating to the All-Share Merger of Standard Life plc and Aberdeen Asset Management plc

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Elect Sarah MacAulay as Director

For

For

6 Re-elect Nicholas Smith as Director

For

For

7 Re-elect Andy Pomfret as Director

For

For

8 Re-elect Clare Dobie as Director

For

For

9 Appoint Deloitte LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

14 Adopt New Articles of Association

For

For

Not voted to avoid conflict of interests

Not voted to avoid conflict of interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Aberforth Geared Income Trust plc

Meeting Date Country 15/06/2017 United Kingdom

Meeting Type Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Matters Relating to the Voluntary Winding-Up of the Company in Accordance with the Scheme under the Provisions of the Insolvency Act 1986

For

For

2 Approve Matters Relating to the Voluntary Winding-Up of the Company under the Provisions of Section 84 of the Insolvency Act 1986

For

For

1 Approve Transfer of Company Assets to AccorInvest

For

For

2 Authorize Filing of Required Documents/Other Formalities

For

For

1 Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Amend Provisions on Number of Directors - Authorize Directors to Execute Day to Day Operations without Full Board Approval

For

For

2.1 Elect Director Kinoshita, Shigeyoshi

For

Against

2.2 Elect Director Kinoshita, Masataka

For

For

First Meeting 1 Approve Matters Relating to the Scheme of Reconstruction Second Meeting

Accor

Acom Co., Ltd.

Activision Blizzard, Inc.

4

30/06/2017 France

22/06/2017 Japan

01/06/2017 USA

Special

Annual

Annual

Extraordinary Business

2.3 Elect Director Sagehashi, Teruyuki

For

For

2.4 Elect Director Murakami, Atsushi

For

For

2.5 Elect Director Wachi, Kaoru

For

For

2.6 Elect Director Watanabe, Noriyoshi

For

For

3.1 Elect Director and Audit Committee Member Fukumoto, Kazuo

For

For

3.2 Elect Director and Audit Committee Member Ito, Tatsuya

For

For

3.3 Elect Director and Audit Committee Member Takada, Osamu

For

For

3.4 Elect Director and Audit Committee Member Doi, Takashi

For

For

4 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

5 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

For

For

1.1 Elect Director Robert Corti 1.2 Elect Director Hendrik Hartong, III

For

For

1.3 Elect Director Brian G. Kelly

For

Against

1.4 Elect Director Robert A. Kotick

For

For

Holding executives accountable for ongoing poor returns

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Adani Ports and Special Economic Zone Ltd. Advanced Semiconductor Engineering Inc.

AEON Credit Service (Asia) Co Ltd

AEON Credit Service (M) Berhad

5

Meeting Date Country

27/06/2017 India

28/06/2017 Taiwan

23/06/2017 Hong Kong

21/06/2017 Malaysia

Meeting Type

Court

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.5 Elect Director Barry Meyer

For

For

1.6 Elect Director Robert Morgado

For

Against

1.7 Elect Director Peter Nolan

For

For

1.8 Elect Director Casey Wasserman

For

For

1.9 Elect Director Elaine Wynn

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

1 Approve Scheme of Arrangement

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance

Court-Ordered Meeting for Shareholders

3a Elect Hideo Tanaka as Director

For

For

3b Elect Koh Yik Kung as Director

For

For

3c Elect Tomoharu Fukayama as Director

For

For

3d Elect Toru Hosokawa as Director

For

For

3e Elect Lee Ching Ming, Adrian as Director

For

For

3f Elect Wong Hin Wing as Director

For

For

3g Elect Kenji Hayashi as Director

For

For

3h Authorize Board to Fix Remuneration of Directors

For

For

4 Approve Deloitte Touche Tohmatsu as Auditors and Authorize Board For to Fix Their Remuneration

For

1 Approve Final Dividend

For

For

2 Approve Increase of Directors' Fees for the Financial Year Ended February 28, 2017

For

For

3 Elect Kenji Fujita as Director

For

For

4 Elect Lee Tyan Jen as Director

For

For

5 Elect Tomokatsu Yoshitoshi as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 6 Elect Abdullah bin Mohd Yusof as Director

AEON Credit Service (M) Berhad

AEON Financial Service Co., Ltd.

21/06/2017 Malaysia

27/06/2017 Japan

Special

Annual

Vote Instruction Voter Rationale

For

Against

Concerns about overall board structure Concerns about overall board structure

7 Elect Ramli bin Ibrahim as Director

For

Against

8 Approve Deloitte PLT as Auditors and Authorize Board to Fix Their Remuneration

For

For

9 Approve Abdullah bin Mohd Yusof to Continue Office as Independent Non-Executive Director

For

Against

Concerns about overall board structure

10 Approve Ramli bin Ibrahim to Continue Office as Independent Non- For Executive Director

Against

Concerns about overall board structure

11 Approve Md Kamal bin Ismaun to Continue Office as Independent Non-Executive Director

For

For

12 Approve Ng Eng Kiat to Continue Office as Independent NonExecutive Director

For

For

13 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

14 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions

For

For

1 Approve Bonus Issue

For

For

2 Approve Renounceable Rights Issue of Irredeemable Convertible Unsecured Loan Stocks

For

For

1 Amend Articles to Reflect Changes in Law

For

For

2.1 Elect Director Suzuki, Masaki

For

For

2.2 Elect Director Kawahara, Kenji

For

For

2.3 Elect Director Mizuno, Masao

For

For

2.4 Elect Director Wakabayashi, Hideki

For

For

2.5 Elect Director Mangetsu, Masaaki

For

For

2.6 Elect Director Yamada, Yoshitaka

For

For

2.7 Elect Director Suzuki, Kazuyoshi

For

For

2.8 Elect Director Arai, Naohiro

For

For

2.9 Elect Director Ishizuka, Kazuo 2.10 Elect Director Watanabe, Hiroyuki

For

For

For

For

2.11 Elect Director Otsuru, Motonari

For

For

2.12 Elect Director Hakoda, Junya

For

For

2.13 Elect Director Nakajima, Yoshimi

6

Mgmt Rec

For

For

3.1 Appoint Statutory Auditor Uchibori, Hisanori

For

For

3.2 Appoint Statutory Auditor Yamazawa, Kotaro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

3 Approve Financial Statements

For

For

4 Acknowledge Interim Dividend and Approve Final Dividend

For

For

5 Approve Deloitte Touche Tohmatsu Jaiyos Audit Company Limited as Auditors and Authorize Board to Fix Their Remuneration

For

For

For

For

3.3 Appoint Statutory Auditor Sakaki, Takayuki Aeon Thana Sinsap (Thailand) PCL

28/06/2017 Thailand

Annual

1 Approve Minutes of Previous Meeting 2 Acknowledge Annual Report and Operating Results

6.1 Elect Suporn Wattanavekin as Director 6.2 Elect Nuntawat Chotvijit as Director

For

For

6.3 Elect Chatchaval Jiaravanon as Director

For

For

6.4 Elect Noppun Muangkote as Director

For

For

7.1 Approve Increase in Size of Board and Elect Masanori Kosaka as Director

For

For

7.2 Approve Increase in Size of Board and Elect Kunio Kawamura as Director

For

For

For

For

1 Approve Agenda of Meeting, Voting Procedures, and Meeting Officials

For

For

2 Approve Annual Report

For

For

3 Approve Financial Statements

For

For

4 Approve Allocation of Income

For

For

5 Approve Dividends

For

For

For

For

9.1 Elect Kirill Androsov as Director

None

Against

Votes to favour our preferred candidates

9.2 Elect Mikhail Voevodin as Director

None

9.3 Elect Aleksey Germanovich as Director

None

For

Votes to favour our preferred candidates

9.4 Elect Igor Kamenskoy as Director

None

Against

Votes to favour our preferred candidates

9.5 Elect Lars Bergstrom as Director

None

For

Votes to favour our preferred candidates

9.6 Elect Aleksandr Nazarov as Director

None

Against

Votes to favour our preferred candidates

9.7 Elect Roman Pakhomov as Director

None

Against

Votes to favour our preferred candidates

8 Approve Remuneration of Directors 9 Other Business Aeroflot PJSC

26/06/2017 Russia

Annual

6 Approve Regulations on Remuneration of Directors 7 Approve Remuneration of Directors 8 Approve Remuneration of Members of Audit Commission Elect 11 Directors by Cumulative Voting

7

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 9.8 Elect Dmitry Peskov as Director 9.9 Elect Mikhail Poluboyarinov as Director

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

Votes to favour our preferred candidates

None

Against

Votes to favour our preferred candidates

9.10 Elect Vladimir Potapov as Director

None

Against

Votes to favour our preferred candidates

9.11 Elect Vitaly Savelyev as Director

None

Against

Votes to favour our preferred candidates

9.12 Elect Dmitry Saprykin as Director

None

Against

Votes to favour our preferred candidates

9.13 Elect Vasily Sidorov as Director

None

Against

Votes to favour our preferred candidates

9.14 Elect Yury Slyusar as Director

None

Against

Votes to favour our preferred candidates

For

For

9.15 Elect Sergey Chemezov as Director Elect Five Members of Audit Commission 10.1 Elect Igor Belikov as Member of Audit Commission

Affiliated Managers Group, Inc.

8

13/06/2017 USA

Annual

10.2 Elect Mikhail Sorokin as Member of Audit Commission

For

For

10.3 Elect Ekaterina Nikitina as Member of Audit Commission

For

For

10.4 Elect Sergey Ubugunov as Member of Audit Commission

For

For

10.5 Elect Vasily Shipilov as Member of Audit Commission

For

For

11.1 Ratify HLB Vneshaudit as RAS Auditor

For

For

11.2 Ratify PricewaterhouseCoopers Audit as IFRS Auditor

For

For

12 Approve New Edition of Charter

For

Against

Concerns to protect shareholder interests

13 Approve New Edition of Regulations on General Meetings

For

Against

Concerns to protect shareholder interests

14 Approve New Edition of Regulations on Board of Directors

For

For

15 Approve New Edition of Regulations on Management

For

For

16.1 Approve Related-Party Transaction with Airlines Pobeda Re: Guarantee Agreement

For

For

16.2 Approve Related-Party Transaction with Airlines Rossiya Re: Amendments to Flights Management Agreement

For

For

16.3 Approve Related-Party Transaction with Airlines Rossiya Re: Amendments to Flights Management Agreement

For

For

16.4 Approve Related-Party Transaction with Airlines Pobeda Re: Operational Leasing Agreement

For

For

16.5 Approve Related-Party Transaction Re: Liability Insurance for Directors and Executives

For

For

1a Elect Director Samuel T. Byrne

For

For

1b Elect Director Dwight D. Churchill

For

For

1c Elect Director Glenn Earle

For

For

1d Elect Director Niall Ferguson

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Africa Opportunity Fund Ltd.

Agricultural Bank of China Limited

Meeting Date Country

05/06/2017 Cayman Islands

28/06/2017 China

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1e Elect Director Sean M. Healey

For

For

1f Elect Director Tracy P. Palandjian

For

For

1g Elect Director Patrick T. Ryan

For

For

1h Elect Director Jide J. Zeitlin

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Provide Directors May Be Removed With or Without Cause

For

For

5 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Re-elect Robert Knapp as Director

For

For

3 Ratify Ernst & Young Mauritius as Auditors

For

For

4 Authorise Board to Fix Remuneration of Auditors

For

For

1 Approve 2016 Work Report of the Board of Directors

For

For

2 Approve 2016 Work Report of the Board of Supervisors

For

For

3 Approve 2016 Final Financial Accounts

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Fixed Asset Investment Budget

For

For

6 Elect Liao Luming as Director

For

For

7 Elect Huang Zhenzhong as Director

For

For

8 Elect Wang Xingchun as Supervisor

For

For

9 Approve Final Remuneration Plan for Directors and Supervisors

Concerns about linkage between pay and performance

AGM BALLOT FOR HOLDERS OF H SHARES

For

For

10 Approve PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers as External Auditors

For

For

11 Amend Articles of Association

For

Against

For

For

Concerns to protect shareholder interests

12 To Listen to the 2016 Work Report of Independent Directors of the Bank 13 To Listen to the 2016 Report on the Implementation of the Plan on Authorization of General Meeting of Shareholders to the Board of Directors of the Bank 14 To Listen to the Report on the Management of Connected Transactions Air Water Inc.

9

28/06/2017 Japan

Annual

1 Amend Articles to Amend Provisions on Director Titles

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.1 Elect Director Toyoda, Masahiro

For

For

2.2 Elect Director Imai, Yasuo

For

For

2.3 Elect Director Shirai, Kiyoshi

For

For

2.4 Elect Director Toyoda, Kikuo

For

For

2.5 Elect Director Karato, Yu

For

For

2.6 Elect Director Matsubara, Yukio

For

For

2.7 Elect Director Machida, Masato

For

For

2.8 Elect Director Tsutsumi, Hideo

For

For

2.9 Elect Director Nagata, Minoru

For

For

2.10 Elect Director Murakami, Yukio

For

For

2.11 Elect Director Yamamoto, Kensuke

For

For

2.12 Elect Director Sogabe, Yasushi

For

For

2.13 Elect Director Komura, Kosuke

For

For

2.14 Elect Director Kawata, Hirokazu

For

For

2.15 Elect Director Shiomi, Yoshio

For

For

2.16 Elect Director Kajiwara, Katsumi

For

For

2.17 Elect Director Iinaga, Atsushi

For

For

2.18 Elect Director Toyonaga, Akihiro

For

For

2.19 Elect Director Sakamoto, Yukiko

For

For

2.20 Elect Director Arakawa, Yoji

For

For

For

For

3 Approve Compensation Ceiling for Directors Aisin Seiki Co. Ltd.

16/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 75 2.1 Elect Director Toyoda, Kanshiro

10

For

For

For

For

2.2 Elect Director Ihara, Yasumori

For

For

2.3 Elect Director Mitsuya, Makoto

For

For

2.4 Elect Director Fujie, Naofumi

For

For

2.5 Elect Director Okabe, Hitoshi

For

For

2.6 Elect Director Usami, Kazumi

For

For

2.7 Elect Director Ozaki, Kazuhisa

For

For

2.8 Elect Director Kobayashi, Toshio

For

For

2.9 Elect Director Haraguchi, Tsunekazu

For

For

2.10 Elect Director Hamada, Michiyo

For

For

2.11 Elect Director Nishikawa, Masahiro

For

For aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.12 Elect Director Uenaka, Hiroshi

Aitken Spence PLC

30/06/2017 Sri Lanka

Annual

Alfresa Holdings Corp.

11

27/06/2017 Japan

27/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

For

2.13 Elect Director Ogiso, Satoshi

For

For

2.14 Elect Director Shimizu, Kanichi

For

For

3 Appoint Statutory Auditor Kobayashi, Ryo

For

For

4 Approve Annual Bonus

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividend

For

For

3 Reelect D.H.S. Jayawardena as Director

For

For

4 Reelect G.C. Wickremasinghe as Director

For

For

5 Reelect R.N. Asirwatham as Director

For

For

6 Reelect J.M.S. Brito as Director

For

For

7 Reelect M.P. Dissanayake as Director

For

For

8 Approve Charitable Donations

For

Against

9 Approve KPMG as Auditors and Authorize Board to Fix their Remuneration

For

For

10 Other Business Ajinomoto Co. Inc.

Mgmt Rec

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 15

For

For

2 Amend Articles to Authorize Public Announcements in Electronic Format - Abolish Retirement Bonus System

For

For

3.1 Elect Director Ito, Masatoshi

For

For

3.2 Elect Director Nishii, Takaaki

For

For

3.3 Elect Director Takato, Etsuhiro

For

For

3.4 Elect Director Fukushi, Hiroshi

For

For

3.5 Elect Director Tochio, Masaya

For

For

3.6 Elect Director Kimura, Takeshi

For

For

3.7 Elect Director Sakie Tachibana Fukushima

For

For

3.8 Elect Director Saito, Yasuo

For

For

3.9 Elect Director Nawa, Takashi

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1 Amend Articles to Amend Business Lines

For

Against

2.1 Elect Director Ishiguro, Denroku

For

For

2.2 Elect Director Kanome, Hiroyuki

For

For

2.3 Elect Director Kubo, Taizo

For

For

Substance of resolution unclear at time of voting

Substance of resolution unclear at time of voting

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Miyake, Shunichi

For

For

2.5 Elect Director Masunaga, Koichi

For

For

2.6 Elect Director Izumi, Yasuki

For

For

2.7 Elect Director Arakawa, Ryuji

For

For

2.8 Elect Director Katsuki, Hisashi

For

For

2.9 Elect Director Terai, Kimiko

For

For

2.10 Elect Director Yatsurugi, Yoichiro

For

For

2.11 Elect Director Konno, Shiho

For

For

3.1 Appoint Statutory Auditor Kamigaki, Seisui

For

For

3.2 Appoint Statutory Auditor Kato, Yoshitaka

For

For

4 Appoint Alternate Statutory Auditor Ueda, Yuji Allegion plc

Alliance Data Systems Corporation

07/06/2017 Ireland

07/06/2017 USA

Annual

Annual

For

For

1a Elect Director Michael J. Chesser

For

For

1b Elect Director Carla Cico

For

For

1c Elect Director Kirk S. Hachigian

For

For

1d Elect Director David D. Petratis

For

For

1e Elect Director Dean I. Schaffer

For

For

1f Elect Director Martin E. Welch, III

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

1.1 Elect Director Bruce K. Anderson

For

Against

Concerns about overall board structure

1.2 Elect Director Roger H. Ballou

For

Against

Concerns about overall board structure

1.3 Elect Director Kelly J. Barlow

For

For

1.4 Elect Director D. Keith Cobb

For

For

1.5 Elect Director E. Linn Draper, Jr.

For

For

1.6 Elect Director Edward J. Heffernan

For

For

1.7 Elect Director Kenneth R. Jensen

For

Against

Concerns about overall board structure

1.8 Elect Director Robert A. Minicucci

For

Against

Concerns about overall board structure

1.9 Elect Director Timothy J. Theriault

For

For

For

For

For

For

1.10 Elect Director Laurie A. Tucker 2 Advisory Vote to Ratify Named Executive Officers' Compensation

12

Concerns about linkage between pay and performance

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Allied Minds plc

Alphabet Inc.

Meeting Date Country

01/06/2017 United Kingdom

07/06/2017 USA

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Deloitte & Touche LLP as Auditors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Reappoint KPMG LLP as Auditors

For

For

4 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

5 Re-elect Peter Dolan as Director

For

For

6 Re-elect Jill Smith as Director

For

For

7 Re-elect Richard Davis as Director

For

Against

8 Re-elect Jeffrey Rohr as Director

For

For

9 Re-elect Kevin Sharer as Director

For

Against

10 Authorise Issue of Equity with Pre-emptive Rights

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise Market Purchase of Ordinary Shares

For

For

15 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Larry Page

For

For

1.2 Elect Director Sergey Brin

For

For

1.3 Elect Director Eric E. Schmidt

For

For

1.4 Elect Director L. John Doerr

For

Withhold

1.5 Elect Director Roger W. Ferguson, Jr.

For

For

Concerns about candidate Concerns about candidate

Concerns about overall board structure

1.6 Elect Director Diane B. Greene

For

For

1.7 Elect Director John L. Hennessy

For

Withhold

Concerns about overall board structure

1.8 Elect Director Ann Mather

For

Withhold

Concerns about overall board structure

1.9 Elect Director Alan R. Mulally

For

For

1.10 Elect Director Paul S. Otellini

For

Withhold

Concerns about overall board structure Concerns about overall board structure

1.11 Elect Director K. Ram Shriram

For

Withhold

1.12 Elect Director Shirley M. Tilghman

For

For

For

For

2 Ratify Ernst & Young LLP as Auditors

13

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Alps Electric Co. Ltd.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

Three Years One Year

Annual votes enhance accountability

6 Approve Recapitalization Plan for all Stock to Have One-vote per Share

Against

Proposal enhances accountability

7 Report on Lobbying Payments and Policy

Against

For

Proposal encourages enhanced transparency

8 Report on Political Contributions

Against

For

Proposal encourages enhanced transparency

9 Report on Gender Pay Gap

Against

For

Proposal encourages enhanced transparency

10 Report on Charitable Contributions

Against

Against

11 Adopt Holy Land Principles

Against

Against

12 Report on Fake News

Against

Against

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 15 2.1 Elect Director Kataoka, Masataka

For

For

2.2 Elect Director Kuriyama, Toshihiro

For

For

2.3 Elect Director Kimoto, Takashi

For

For

2.4 Elect Director Sasao, Yasuo

For

For

2.5 Elect Director Amagishi, Yoshitada

For

For

2.6 Elect Director Umehara, Junichi

For

For

2.7 Elect Director Edagawa, Hitoshi

For

For

2.8 Elect Director Daiomaru, Takeshi

For

For

2.9 Elect Director Okayasu, Akihiko 2.10 Elect Director Saeki, Tetsuhiro

Alrosa PJSC

14

30/06/2017 Russia

Annual

For

For

For

For

For

2.11 Elect Director Kega, Yoichiro

For

For

2.12 Elect Director Sato, Hiroyuki

For

For

1 Approve Annual Report

For

For

2 Approve Annual Financial Statements

For

For

3 Approve Allocation of Income

For

For

4 Approve Dividends of RUB 8.93 per Share

For

For

5 Approve Remuneration of Directors

For

Against

Concerns about linkage between pay and performance

6 Approve Remuneration of Members of Audit Commission

For

Against

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.1 Elect Petr Alexeev as Director

None

Against

Votes to favour our preferred candidates

7.2 Elect Sergey Barsukov as Director

None

Against

Votes to favour our preferred candidates

7.3 Elect Georgy Basharin as Director

None

Against

Votes to favour our preferred candidates

7.4 Elect Egor Borisov as Director

None

Against

Votes to favour our preferred candidates

7.5 Elect Alexandr Galushka as Director

None

Against

Votes to favour our preferred candidates

7.6 Elect Maria Gordon as Director

None

For

Votes to favour our preferred candidates

7.7 Elect Evgenia Grigoryeva as Director

None

Against

Votes to favour our preferred candidates

7.8 Elect Andrey Guryev as Director

None

Against

Votes to favour our preferred candidates

7.9 Elect Galina Danchikova as Director

None

Against

Votes to favour our preferred candidates

None

Against

Votes to favour our preferred candidates

Elect 15 Directors by Cumulative Voting

7.10 Elect Kirill Dmitriev as Director 7.11 Elect Sergey Ivanov as Director

None

Against

Votes to favour our preferred candidates

7.12 Elect Valentina Kondratyeva as Director

None

Against

Votes to favour our preferred candidates

7.13 Elect Dmitry Konov as Director

None

Against

Votes to favour our preferred candidates

7.14 Elect Valentina Lemesheva as Director

None

Against

Votes to favour our preferred candidates

7.15 Elect Galina Makarova as Director

None

Against

Votes to favour our preferred candidates

7.16 Elect Sergey Mestnikov as Director

None

Against

Votes to favour our preferred candidates

7.17 Elect Andrey Panov as Director

None

Against

Votes to favour our preferred candidates

7.18 Elect Anton Siluanov as Director

None

Against

Votes to favour our preferred candidates

7.19 Elect Oleg Fedorov as Director

None

For

Votes to favour our preferred candidates

7.20 Elect Evgeny Chekin as Director

None

Against

Votes to favour our preferred candidates

7.21 Elect Aleksey Chekunkov as Director

None

Against

Votes to favour our preferred candidates

Elect Members of Audit Commission

Altice NV

28/06/2017 Netherlands

Annual

8.1 Elect Anna Vasilyeva as Member of Audit Commission

For

For

8.2 Elect Alexandr Vasilchenko as Member of Audit Commission

For

For

8.3 Elect Dmitry Vladimirov as Member of Audit Commission

For

For

8.4 Elect Victor Pushmin as Member of Audit Commission

For

For

9 Ratify Auditor

For

For

10 Amend Charter

For

For

11 Amend Regulations on General Meetings

For

For

12 Amend Regulations on Board of Directors

For

For

13 Amend Company's Corporate Governance Code

For

For

Annual Meeting Agenda 1 Open Meeting

15

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Adopt Annual Accounts for Financial Year 2016

For

For

4 Approve Discharge of Executive Board Members

For

For

5 Approve Discharge of Non-Executive Board Members

For

For

6 Elect M. Scott Matlock as Non-Executive Director

For

For

7 Elect J. Allavena as Director

For

For

8.a Approve Executive Annual Cash Bonus Plan

For

Against

Concerns about linkage between pay and performance

8.b Amend Remuneration Policy

For

Against

Concerns about linkage between pay and performance

8.c Approve Stock Option Plan

For

Against

Concerns about linkage between pay and performance

8.d Amend Remuneration of Michel Combes

For

Against

Concerns about linkage between pay and performance

8.e Amend Remuneration of Dexter Goei

For

Against

Concerns about linkage between pay and performance

8.f Amend Remuneration of Dennis Okhuijsen

For

Against

Concerns about linkage between pay and performance

8.g Approve Remuneration of Supervisory Board

For

For

9 Authorize Repurchase of Issued Share Capital

For

For

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Independent Auditor's Report and Audited Financial Report

For

For

4 Approve 2016 Loss Recovery Proposals

For

For

5 Approve Ernst & Young Hua Ming (LLP) as Domestic Auditors and Ernst & Young as International Auditors and Authorize Board to Fix Their Remuneration

For

For

2.a Receive Report of Management Board (Non-Voting) 2.b Receive Explanation on Company's Reserves and Dividend Policy 2.c Discuss Remuneration Policy for Management Board Members

10 Proposal to Cancel shares the Company holds in its own capital 11 Other Business (Non-Voting) 12 Close Meeting Aluminum Corporation of China Ltd.

16

28/06/2017 China

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve 2017 Remuneration Standards for Directors and Supervisors

For

For

7 Approve Renewal of Liability Insurance for Directors, Supervisors and Senior Management Members

For

For

8 Approve Provision of Financing Guarantees by Chalco Shandong to Shandong Advanced Material

For

For

9 Approve Provision of Guarantees by the Company to Chalco Hong Kong and its Subsidiaries for Financing

For

For

10 Approve Provision of Guarantees by the Company and Chalco Shandong to Xinghua Technology for Financing

For

For

11 Approve Provision of Guarantees by Chalco Trading to Chalco Trading Hong Kong for Financing

For

For

12 Approve Resolution in Relation to Matters on Guarantees of Ningxia Energy and its Subsidiaries

For

Against

13 Approve Acquisition of 40 Percent Equity Interests in Chalco Shanghai by the Company

For

For

15 Approve Issuance of Debt Financing Instruments

For

For

16 Approve Issuance of Overseas Bonds

For

For

17 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 18

For

For

Concerns to protect shareholder interests

14 Approve Establishment of an Industry Investment Fund in Cooperation with BOCOMMTRUST

Amada Holdings Co., Ltd.

17

28/06/2017 Japan

Annual

2.1 Elect Director Okamoto, Mitsuo

For

For

2.2 Elect Director Isobe, Tsutomu

For

For

2.3 Elect Director Abe, Atsushige

For

For

2.4 Elect Director Shibata, Kotaro

For

For

2.5 Elect Director Kudo, Hidekazu

For

For

2.6 Elect Director Mazuka, Michiyoshi

For

For

2.7 Elect Director Chino, Toshitake

For

For

2.8 Elect Director Miyoshi, Hidekazu

For

For

3.1 Appoint Statutory Auditor Ito, Katsuhide

For

For

3.2 Appoint Statutory Auditor Nishiura, Seiji

For

For

4 Appoint Alternate Statutory Auditor Murata, Makoto

For

For

5 Approve Annual Bonus

For

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Amadeus IT Group SA

Amec Foster Wheeler plc

18

Meeting Date Country 14/06/2017 Spain

02/06/2017 United Kingdom

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Consolidated and Standalone Financial Statements

For

For

2 Approve Allocation of Income and Dividends

For

For

3 Approve Discharge of Board

For

For

4 Renew Appointment of Deloitte as Auditor

For

For

5.1 Elect Nicolas Huss as Director

For

For

5.2 Reelect Jose Antonio Tazon Garcia as Director

For

For

5.3 Reelect Luis Maroto Camino as Director

For

For

5.4 Reelect David Gordon Comyn Webster as Director

For

For

5.5 Reelect Pierre-Henri Gourgeon as Director

For

For

5.6 Reelect Guillermo de la Dehesa Romero as Director

For

For

5.7 Reelect Clara Furse as Director

For

For

5.8 Reelect Francesco Loredan as Director

For

Against

Concerns about overall board structure

5.9 Reelect Stuart McAlpine as Director

For

Against

Concerns about overall board structure

5.10 Reelect Marc Verspyck as Director

For

Against

Concerns about overall board structure

5.11 Reelect Roland Busch as Director

For

Against

Concerns about overall board structure

6 Advisory Vote on Remuneration Report

For

For

7 Approve Remuneration of Directors

For

For

8 Authorize Board to Ratify and Execute Approved Resolutions

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Elect Jon Lewis as Director

For

For

4 Elect Bob Card as Director

For

For

5 Re-elect John Connolly as Director

For

For

6 Re-elect Ian McHoul as Director

For

For

7 Re-elect Linda Adamany as Director

For

For

8 Re-elect Colin Day as Director

For

Abstain

9 Re-elect Roy Franklin as Director

For

For

10 Re-elect Stephanie Newby as Director

For

For

11 Reappoint Ernst & Young LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Amec Foster Wheeler plc

15/06/2017 United Kingdom

Special

Amec Foster Wheeler plc

15/06/2017 United Kingdom

Court

Amedeo Air Four Plus Limited

05/06/2017 Guernsey

Special

American Airlines Group Inc.

14/06/2017 USA

Annual

American International Group, Inc.

19

28/06/2017 USA

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

15 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

16 Authorise Market Purchase of Ordinary Shares

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

For

For

1 Approve Scheme of Arrangement

For

For

1 Approve Acquisition of New Assets

1 Approve Matters Relating to the All-Share Offer by John Wood Group plc for Amec Foster Wheeler plc Court Meeting

For

For

1a Elect Director James F. Albaugh

For

For

1b Elect Director Jeffrey D. Benjamin

For

For

1c Elect Director John T. Cahill

For

For

1d Elect Director Michael J. Embler

For

For

1e Elect Director Matthew J. Hart

For

For

1f Elect Director Alberto Ibarguen

For

For

1g Elect Director Richard C. Kraemer

For

For

1h Elect Director Susan D. Kronick

For

For

1i Elect Director Martin H. Nesbitt

For

For

1j Elect Director Denise M. O'Leary

For

For

1k Elect Director W. Douglas Parker

For

For

1l Elect Director Ray M. Robinson

For

For

1m Elect Director Richard P. Schifter

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Require Independent Board Chairman

Against

For

1a Elect Director W. Don Cornwell

For

For

1b Elect Director Brian Duperreault

For

For

1c Elect Director Peter R. Fisher

For

For

1d Elect Director John H. Fitzpatrick

For

For

1e Elect Director William G. Jurgensen

For

For

1f Elect Director Christopher S. Lynch

For

For

Concerns about linkage between pay and performance Proposal enhances board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1g Elect Director Samuel J. Merksamer

For

For

1h Elect Director Henry S. Miller

For

For

1i Elect Director Linda A. Mills

For

For

1j Elect Director Suzanne Nora Johnson

For

For

1k Elect Director Ronald A. Rittenmeyer

For

For

1l Elect Director Douglas M. Steenland

For

For

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

1m Elect Director Theresa M. Stone

AMERISAFE, Inc.

ANA Holdings Co.,Ltd.

09/06/2017 USA

23/06/2017 Japan

Annual

Annual

3 Amend Securities Transfer Restrictions

For

For

4 Ratify NOL Rights Plan (NOL Pill)

For

For

5 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

1.1 Elect Director Michael J. Brown

For

For

1.2 Elect Director G. Janelle Frost

For

For

2 Amend Omnibus Stock Plan

For

For

Concerns about linkage between pay and performance

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

Concerns about linkage between pay and performance

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Amend Articles to Reduce Share Trading Unit 4.1 Elect Director Ito, Shinichiro

20

Concerns about linkage between pay and performance

For

For

For

For

4.2 Elect Director Shinobe, Osamu

For

For

4.3 Elect Director Katanozaka, Shinya

For

For

4.4 Elect Director Nagamine, Toyoyuki

For

For

4.5 Elect Director Ishizaka, Naoto

For

For

4.6 Elect Director Takada, Naoto

For

For

4.7 Elect Director Hirako, Yuji

For

For

4.8 Elect Director Mori, Shosuke

For

For

4.9 Elect Director Yamamoto, Ado

For

For

4.10 Elect Director Kobayashi, Izumi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Aon plc

Meeting Date Country

23/06/2017 United Kingdom

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5.1 Appoint Statutory Auditor Tonomoto, Kiyoshi

For

For

5.2 Appoint Statutory Auditor Hasegawa, Akihiko

For

For

1.1 Elect Director Lester B. Knight

For

For

1.2 Elect Director Gregory C. Case

For

For

1.3 Elect Director Jin-Yong Cai

For

For

1.4 Elect Director Fulvio Conti

For

For

1.5 Elect Director Cheryl A. Francis

For

For

1.6 Elect Director J. Michael Losh

For

For

1.7 Elect Director Robert S. Morrison

For

Against

1.8 Elect Director Richard B. Myers

For

For

1.9 Elect Director Richard C. Notebaert 1.10 Elect Director Gloria Santona 1.11 Elect Director Carolyn Y. Woo

Aozora Bank, Ltd.

27/06/2017 Japan

Annual

Against For

For

Against

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Approve Remuneration Policy

For

For

5 Advisory Vote to Ratify Directors' Remuneration Report

For

For

6 Accept Financial Statements and Statutory Reports

For

For

7 Ratify Ernst & Young LLP as Aon's Auditors

For

For

8 Ratify Ernst & Young LLP as Aon's U.K. Statutory Auditor

For

For

9 Authorize Board to Fix Remuneration of Auditors

For

For

10 Authorise Shares for Market Purchase

For

For

11 Issue of Equity or Equity-Linked Securities with Pre-emptive Rights

For

For

12 Issue of Equity or Equity-Linked Securities without Pre-emptive Rights

For

For

13 Approve Political Donations

For

For

1 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

2 Amend Articles to Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

For

For

3.1 Elect Director Fukuda, Makoto

21

For For

3.2 Elect Director Baba, Shinsuke

For

For

3.3 Elect Director Saito, Takeo

For

For

3.4 Elect Director Takeda, Shunsuke

For

For

Concerns about overall board structure Concerns about overall board structure Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Arezzo Industria e Comercio SA

23/06/2017 Brazil

Special

Asahi Kasei Corp.

28/06/2017 Japan

Annual

Ascendas Real Estate Investment Trust

Asia Cement Corporation

22

29/06/2017 Singapore

27/06/2017 Taiwan

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.5 Elect Director Mizuta, Hiroyuki

For

For

3.6 Elect Director Murakami, Ippei

For

For

3.7 Elect Director Ito, Tomonori

For

For

3.8 Elect Director Sekizawa, Yukio

For

For

4.1 Appoint Alternate Statutory Auditor Uchida, Keiichiro

For

For

4.2 Appoint Alternate Statutory Auditor Mitch R. Fulscher

For

For

For

For

1 Approve Restricted Stock Plan 1.1 Elect Director Ito, Ichiro

For

For

1.2 Elect Director Kobori, Hideki

For

For

1.3 Elect Director Nakao, Masafumi

For

For

1.4 Elect Director Sakamoto, Shuichi

For

For

1.5 Elect Director Kakizawa, Nobuyuki

For

For

1.6 Elect Director Hashizume, Soichiro

For

For

1.7 Elect Director Ichino, Norio

For

For

1.8 Elect Director Shiraishi, Masumi

For

For

1.9 Elect Director Tatsuoka, Tsuneyoshi

For

For

2.1 Appoint Statutory Auditor Kobayashi, Yuji

For

For

2.2 Appoint Statutory Auditor Konishi, Hikoe

For

For

3 Approve Trust-Type Equity Compensation Plan

For

For

1 Adopt Report of the Trustee, Statement by the Manager, Audited Financial Statements and Auditors' Report

For

For

2 Approve Ernst & Young LLP as Auditors and Authorize Manager to Fix Their Remuneration

For

For

3 Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights

For

For

4 Approve Trust Deed Supplement

For

For

5 Authorize Unit Repurchase Program

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Rules and Procedures for Election of Directors and Supervisors

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

6.2 Elect Tsai Hsiung Chang, Representative of Far Eastern New Century For Corp., with Shareholder No. 1 as Non-Independent Director

For

6.3 Elect Johnny Shih, Representative of Far Eastern New Century Corp., For with Shareholder No. 1 as Non-Independent Director

For

6.4 Elect C.V. Chen, Representative of Far Eastern New Century Corp., with Shareholder No. 1 as Non-Independent Director

For

For

6.5 Elect Chin-Der Ou, Representative of Bai-Yang Investment Holdings For Corp., with Shareholder No. 85666 as Non-Independent Director

For

6.6 Elect Kun Yan Lee, Representative U-Ding Corp., with Shareholder No. 126912 as Non-Independent Director

For

For

6.7 Elect Peter Hsu, Representative of Far Eastern Y.Z. Hsu Science and For Technology Memorial Foundation, with Shareholder No. 180996 as Non-Independent Director

For

6.8 Elect Chen Kun Chang, Representative of Far Eastern Y.Z. Hsu Science and Technology Memorial Foundation, with Shareholder No. 180996 as Non-Independent Director

For

For

6.9 Elect Ruey Long Chen, Representative of Ta Chu Chemical Fiber Co., For Ltd., with Shareholder No. 225135 as Non-Independent Director

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets, Procedures for Endorsement and Guarantees as well as Lending Funds to Other Parties ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 6.1 Elect Douglas Tong Hsu with Shareholder No. 13 as NonIndependent Director

23

6.10 Elect Connie Hsu, Representative of Huey Kang Investment Corp., with Shareholder No. 92107 as Non-Independent Director

For

For

6.11 Elect Champion Lee, Representative of Far Eastern Medical Foundation, with Shareholder No. 22744 as Non-Independent Director

For

For

6.12 Elect Kwan-Tao Li, Representative of U-Ming Corporation, with Shareholder No. 27718as Non-Independent Director

For

For

6.13 Elect Ta-Chou Huang with ID No. R102128XXX as Independent Director

For

For

6.14 Elect Chi Schive with ID no. Q100446XXX as Independent Director

For

For

6.15 Elect Gordon S. Chen with ID No. P101989XXX as Independent Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Asia Pacific Telecom Co., Ltd.

Asia Satellite Telecommunications Holdings Ltd.

Asian Paints Ltd.

Astellas Pharma Inc.

24

Meeting Date Country

15/06/2017 Taiwan

14/06/2017 Bermuda

27/06/2017 India

19/06/2017 Japan

Meeting Type

Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Statement of Profit and Loss Appropriation

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Release of Restrictions of Competitive Activities of Directors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For For

3a Elect Ju Wei Min as Director

For

3b Elect Julius M. Genachowski as Director

For

Abstain

3c Elect Stephen Lee Hoi Yin as Director

For

For

3d Elect Andrew G. Jordan as Director

For

For

3e Elect Marcel R. Fenez as Director

For

For

3f Elect Steven R. Leonard as Director

For

For

3g Authorize Board to Fix Remuneration of Directors

For

For

4 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6 Authorize Repurchase of Issued Share Capital

For

For

7 Authorize Reissuance of Repurchased Shares

For

Against

8 Adopt Share Option Scheme

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividend

For

For

3 Reelect Abhay Vakil as Director

For

For

4 Reelect Amrita Vakil as Director

For

For

5 Approve Deloitte Haskins & Sells LLP, Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Elect R. Seshasayee as Director

For

For

7 Approve Reappointment and Remuneration of K.B.S. Anand as Managing Director and CEO

For

For

8 Approve Remuneration of Cost Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 17

For

For

Substance of proposal unclear at time of voting

Concerns about candidate

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.1 Elect Director Hatanaka, Yoshihiko

Astro Malaysia Holdings Berhad

25

15/06/2017 Malaysia

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2.2 Elect Director Yasukawa, Kenji

For

For

2.3 Elect Director Okajima, Etsuko

For

For

2.4 Elect Director Aizawa, Yoshiharu

For

For

2.5 Elect Director Sekiyama, Mamoru

For

For

2.6 Elect Director Yamagami, Keiko

For

For

3 Approve Annual Bonus

For

For

1 Approve Final Dividend

For

For

2 Elect Rohana Binti Tan Sri Datuk Hj Rozhan as Director

For

For

3 Elect Lim Ghee Keong as Director

For

For

4 Elect Richard John Freudenstein as Director

For

For

5 Elect Zaki Bin Tun Azmi as Director

For

For

6 Approve Remuneration of Directors

For

For

7 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

8 Elect Simon Cathcart as Director

For

For

9 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

10 Authorize Share Repurchase Program

For

For

11 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with Usaha Tegas Sdn Bhd and/or its Affiliates

For

For

12 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with Maxis Berhad and/or its Affiliates

For

For

13 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with MEASAT Global Berhad and/or its Affiliates

For

For

14 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with Astro Holdings Sdn Bhd and/or its Affiliates

For

For

15 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with New Delhi Television Limited and/ or its Affiliates

For

For

16 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with Sun TV Network Limited and/or its Affiliates

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt and/or Issuance of Ordinary Shares and/or Issuance of Ordinary Shares via Private Placement and/or Issuance of Foreign or Domestic Convertible Bonds

For

For

For

For

17 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions with GS Home Shopping Inc. and/or its Affiliates ASUSTeK Computer Inc.

07/06/2017 Taiwan

Annual

AU Optronics Corp

15/06/2017 Taiwan

Annual

Autodesk, Inc.

Avangrid, Inc.

26

14/06/2017 USA

22/06/2017 USA

Annual

Annual

1a Elect Director Carl Bass 1b Elect Director Crawford W. Beveridge

For

Against

1c Elect Director Jeff Clarke

For

For

1d Elect Director Scott Ferguson

For

For

1e Elect Director Thomas Georgens

For

For

1f Elect Director Richard (Rick) S. Hill

For

For

1g Elect Director Mary T. McDowell

For

For

1h Elect Director Lorrie M. Norrington

For

For

1i Elect Director Betsy Rafael

For

For

1j Elect Director Stacy J. Smith

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Amend Qualified Employee Stock Purchase Plan

For

For

6 Amend Omnibus Stock Plan

For

Against

1.1 Elect Director Ignacio Sanchez Galan

For

For

1.2 Elect Director John E. Baldacci

For

For

1.3 Elect Director Pedro Azagra Blazquez

For

For

1.4 Elect Director Felipe de Jesus Calderon Hinojosa

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Avocet Mining plc

Meeting Date Country

30/06/2017 United Kingdom

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.5 Elect Director Arnold L. Chase

For

For

1.6 Elect Director Alfredo Elias Ayub

For

For

1.7 Elect Director Carol L. Folt

For

For

1.8 Elect Director John L. Lahey

For

For

1.9 Elect Director Santiago Martinez Garrido

For

For

1.10 Elect Director Juan Carlos Rebollo Liceaga

For

For

1.11 Elect Director Jose Sainz Armada

For

For

1.12 Elect Director Alan D. Solomont

For

For

1.13 Elect Director Elizabeth Timm

For

For

1.14 Elect Director James P. Torgerson

For

For

2 Ratify KPMG US, LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

4 Adopt Majority Voting for Uncontested Election of Directors

For

For

5 Approve Increase in the Minimum Number of Independent Directors on the Board

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Russell Edey as Director

For

For

4 Re-elect Barry Rourke as Director

For

For

5 Re-elect Gordon Wylie as Director

For

For

6 Re-elect David Cather as Director

For

For

7 Re-elect Jim Wynn as Director

For

For

8 Elect Boudewijn Wentink as Director

For

For

9 Reappoint Grant Thornton UK LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

14 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

Azbil Corp.

27/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 40

For

For

Baker Hughes Incorporated

30/06/2017 USA

Special

1 Approve Merger Agreement

For

For

2 Adjourn Meeting

For

For

27

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Banco de Credito e Inversiones (BCI)

BANDAI NAMCO Holdings Inc.

Meeting Date Country

29/06/2017 Chile

19/06/2017 Japan

Meeting Type

Special

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Advisory Vote on Golden Parachutes

For

Against

Concerns about linkage between pay and performance

4 Approve Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

5 Approve Material Terms of the Executive Officer Performance Goals For

Against

Concerns about linkage between pay and performance

a Approve Cancellation of Unallocated Part of Capital Authorization Approved at EGM Held on March 28, 2017 to Increase Capital

For

For

b Recognize Minimum Placement Price of Shares in Connection with Capital Increase Approved at Oct. 27, 2015 EGM

For

For

c Authorize Increase in Capital via Capitalization of Income with and without Issuance of Shares

For

For

d Amend Articles to Reflect Changes in Capital

For

For

e Adopt All Necessary Agreements to Execute Approved Resolutions

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 70

For

For

2.1 Elect Director Ishikawa, Shukuo

For

For

2.2 Elect Director Taguchi, Mitsuaki

For

For

2.3 Elect Director Otsu, Shuji

For

For

2.4 Elect Director Asako, Yuji

For

For

2.5 Elect Director Kawaguchi, Masaru

For

For

2.6 Elect Director Oshita, Satoshi

For

For

2.7 Elect Director Kawashiro, Kazumi

For

For

2.8 Elect Director Matsuda, Yuzuru

For

For

2.9 Elect Director Kuwabara, Satoko

For

For

For

For

For

For

1 Approve 2016 Work Report of Board of Directors

For

For

2 Approve 2016 Work Report of Board of Supervisors

For

For

3 Approve 2016 Annual Financial Statements

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Annual Budget for Fixed Assets Investment

For

For

6 Approve Ernst & Young Hua Ming as External Auditor

For

For

For

For

2.10 Elect Director Noma, Mikiharu 3 Approve Equity Compensation Plan and Amend Deep Discount Stock Option Plans Bank of China Limited

29/06/2017 China

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

7.01 Elect Chen Siqing as Director

28

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 7.02 Elect Zhang Xiangdong as Director

Bank of Kyoto Ltd.

29

22/06/2017 China

29/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

Against

Concerns about overall board structure

7.03 Elect Xiao Lihong as Director

For

Against

Concerns about overall board structure

7.04 Elect Wang Xiaoya as Director

For

Against

Concerns about overall board structure Concerns about overall board structure

7.05 Elect Zhao Jie as Director

Bank of Communications Co., Ltd.

Mgmt Rec

For

Against

8 Approve Issuance of Bonds

For

For

9 Amend Articles of Association

None

Against

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Financial Report

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve PricewaterhouseCoopers as International Auditor and PricewaterhouseCoopers Zhong Tian LLP as Domestic Auditor and Authorize Board to Determine and Enter Into Respective Engagement with Them

For

For

6 Approve 2017 Fixed Assets Investment Plan

For

For

7 Approve Remuneration Plan of the Directors

For

For

8 Approve Remuneration Plan of the Supervisors

For

For

9 Elect Song Guobin as Director

For

For

10 Elect Raymond Woo Chin Wan as Director

For

For

11 Elect Cai Hongping as Director

For

For

12 Elect Wang Xueqing as Supervisor

For

For

13 Elect He Zhaobin as Director

None

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES

1 Approve Allocation of Income, With a Final Dividend of JPY 6

3.1 Elect Director Takasaki, Hideo

For

Against

Holding executives accountable for ongoing poor returns

3.2 Elect Director Doi, Nobuhiro

For

Against

Holding executives accountable for ongoing poor returns

3.3 Elect Director Naka, Masahiko

For

For

3.4 Elect Director Hitomi, Hiroshi

For

For

3.5 Elect Director Anami, Masaya

For

For

3.6 Elect Director Iwahashi, Toshiro

For

For

3.7 Elect Director Kashihara, Yasuo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.8 Elect Director Yasui, Mikiya

For

For

3.9 Elect Director Koishihara, Norikazu

For

For

3.10 Elect Director Odagiri, Junko Bank of the Ozarks, Inc.

23/06/2017 USA

Special

Bank Polska Kasa Opieki S.A.

08/06/2017 Poland

Special

For

For

4 Appoint Statutory Auditor Hamagishi, Yoshihiko

For

For

1 Approve Reorganization Plan

For

For

2 Adjourn Meeting

For

For

For

For

4 Elect Members of Vote Counting Commission

For

For

5 Approve Agenda of Meeting

For

For

6 Amend Statute

None

For

7 Approve Consolidated Text of Statute

None

For

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting

Shareholder Proposals

8 Elect Supervisory Board Member

None

Against

9 Approve Decision on Covering Costs of Convocation of General Meeting of Shareholders

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify PricewaterhouseCoopers CI LLP as Auditors and Authorise Their Remuneration

For

For

3 Approve Remuneration of Directors

For

For

4 Re-elect Dudley Fishburn as Director

For

For

5 Re-elect Peter Touzeau as Director

For

For

6 Re-elect Richard Crowder as Director

For

For

7 Re-elect Simon Faure as Director

For

For

8 Elect Andrey Costyashkin as Director

For

For

9 Authorise Market Purchase of US Dollar Core Shares

For

For

1 Approve Meeting Procedures

For

For

2 Approve Annual Report

For

For

3 Approve Financial Statements

For

For

4 Approve Allocation of Income

For

For

Form of resolution limits director accountability

10 Close Meeting Baring Vostok Investments PCC Ltd

Bashneft PJSOC

30

29/06/2017 Guernsey

30/06/2017 Russia

Annual

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Dividends

For

For

6 Fix Number of Directors at 10

For

For

7.1 Elect Pavel Fedorov as Director

None

Against

None of candidates enhances board independence

7.2 Elect Andrey Shishkin as Director

None

Against

None of candidates enhances board independence

7.3 Elect Ural Lapytov as Director

None

Against

None of candidates enhances board independence

7.4 Elect Casimiro Didier as Director

None

Against

None of candidates enhances board independence

7.5 Elect Otabek Karimov as Director

None

Against

None of candidates enhances board independence

7.6 Elect Christoph Nehring as Director

None

Against

None of candidates enhances board independence

7.7 Elect Artem Prigoda as Director

None

Against

None of candidates enhances board independence

7.8 Elect Elena Zavaleeva as Director

None

Against

None of candidates enhances board independence

7.9 Elect Evgeny Guryev as Director

None

Against

None of candidates enhances board independence

7.10 Elect Farkhad Samedov as Director

None

Against

None of candidates enhances board independence

8.1 Elect Valery Tkachenko as Member of Audit Commission

For

For

Votes to favour our preferred candidates

8.2 Elect Yury Moshkin as Member of Audit Commission

For

For

Votes to favour our preferred candidates

8.3 Elect Oleg Belitsky as Member of Audit Commission

For

For

Votes to favour our preferred candidates

8.4 Elect Sergey Vasilyev as Member of Audit Commission

For

For

Votes to favour our preferred candidates

8.5 Elect Sergey Deryugin as Member of Audit Commission

For

For

Votes to favour our preferred candidates

8.6 Elect Lira Igtisamova as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

Elect 10 Directors by Cumulative Voting

Elect Five Members of Audit Commission

9 Ratify Auditor

Bed Bath & Beyond Inc.

31

29/06/2017 USA

Annual

For

For

10 Approve Remuneration of Directors

For

Against

11 Approve Remuneration of Members of Audit Commission

For

For

1a Elect Director Warren Eisenberg

For

For

1b Elect Director Leonard Feinstein

For

For

1c Elect Director Steven H. Temares

For

For

1d Elect Director Dean S. Adler

For

Against

Concerns about overall board structure

1e Elect Director Stanley F. Barshay

For

Against

Concerns about overall board structure

1f Elect Director Klaus Eppler

For

Against

Concerns about overall board structure

1g Elect Director Patrick R. Gaston

For

For

1h Elect Director Jordan Heller

For

For

1i Elect Director Victoria A. Morrison

For

Against

1j Elect Director Virginia P. Ruesterholz

For

For

Concerns about independence

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Beijing Capital International Airport Co., Ltd.

Meeting Date Country

28/06/2017 China

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Amend Omnibus Stock Plan

For

Against

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements and Independent Auditor's Report

For

For

4 Approve 2016 Profit Distribution Proposal

For

For

5 Approve PricewaterhouseCoopers Zhong Tian LLP as PRC Auditors and PricewaterhouseCoopers as International Auditors and Authorize Board to Fix Their Remuneration

For

For

6.1 Elect Liu Xuesong as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.2 Elect Han Zhiliang as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.3 Elect Gao Lijia as Director, Approve Her Service Contract, and Authorize Board to Fix Her Remuneration

For

For

6.4 Elect Gao Shiqing as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.5 Elect Yao Yabo as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.6 Elect Ma Zheng as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.7 Elect Cheng Chi Ming, Brian as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.8 Elect Japhet Sebastian Law as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

6.9 Elect Jiang Ruiming as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

For

For

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

ELECT DIRECTORS AND AUTHORIZE BOARD TO FIX THEIR REMUNERATIONS AND RELATED TRANSACTIONS

6.10 Elect Liu Guibin as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration

32

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

7.1 Elect Song Shengli as Supervisor, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

7.2 Elect Dong Ansheng as Supervisor, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

7.3 Elect Wang Xiaolong as Supervisor, Approve His Service Contract, and Authorize Board to Fix His Remuneration

For

For

For

For

6.11 Elect Zhang Jiali as Director, Approve His Service Contract, and Authorize Board to Fix His Remuneration ELECT SUPERVISORS AND AUTHORIZE BOARD TO FIX THEIR REMUNERATIONS AND RELATED TRANSACTIONS

Beijing Enterprises Holdings Ltd.

Beijing Tongrentang Co., Ltd.

33

22/06/2017 Hong Kong

26/06/2017 China

Annual

Annual

1 Accept Financial Statements and Statutory Reports 2 Approve Final Dividend

For

For

3.1 Elect Zhou Si as Director

For

For

3.2 Elect Li Fucheng as Director

For

Against

3.3 Elect E Meng as Director

For

For

3.4 Elect Jiang Xinhao as Director

For

For

3.5 Elect Lam Hoi Ham as Director

For

For

3.6 Elect Ma She as Director

For

For

3.7 Authorize Board to Fix Remuneration of Directors

Concerns about overall board structure

For

For

4 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests Concerns to protect shareholder interests

7 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Report of the Board of Directors

For

For

4 Approve Report of the Board of Supervisors

For

For

5 Approve Annual Report and Summary

For

For

6 Approve Appointment of Auditor and Fix the Remuneration

For

For

7 Approve Signing of Purchase Framework Agreement and Annual Estimates with Related Party

For

For

8 Approve Signing of Sales Framework Agreement and Annual Estimates with Related Party

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 9 Approve Change of Business Scope and Amend Articles of Association

Beijing Yanjing Brewery Co., Ltd

09/06/2017 China

Special

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 1.01 Elect Zhao Xiaodong as Non-independent Director 1.02 Elect Liu Xiangyu as Non-independent Director

For

For

1.03 Elect Xie Guangjun as Non-independent Director

For

For

1.04 Elect Deng Liancheng as Non-independent Director

For

For

1.05 Elect Dai Yongquan as Non-independent Director

For

For

1.06 Elect Ding Guangxue as Non-independent Director

For

For

1.07 Elect Zhang Haifeng as Non-independent Director

For

For

1.08 Elect Li Guangjun as Non-Independent Director

None

For

1.09 Elect Yang Yi as Non-independent Director

For

For

1.10 Elect Wu Pei as Non-Independent Director

None

For

For

For

ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 2.01 Elect Li Xingshan as Independent Director 2.02 Elect Wang Lianfeng as Independent Director

For

For

2.03 Elect Zhu Liqing as Independent Director

For

For

2.04 Elect Zhang Guiqing as Independent Director

For

For

2.05 Elect Yin Jianjun as Independent Director

For

For

ELECT SUPERVISORS VIA CUMULATIVE VOTING

Benesse Holdings Inc

34

24/06/2017 Japan

Annual

3.01 Elect Wang Jinquan as Supervisor

For

For

3.02 Elect Song Yumei as Supervisor

For

For

For

For

2.1 Elect Director Adachi, Tamotsu

1 Amend Articles to Amend Business Lines

For

Against

2.2 Elect Director Iwata, Shinjiro

For

For

2.3 Elect Director Fukuhara, Kenichi

For

For

2.4 Elect Director Kobayashi, Hitoshi

For

For

2.5 Elect Director Takiyama, Shinya

For

For

2.6 Elect Director Yamasaki, Masaki

For

For

2.7 Elect Director Tsujimura, Kiyoyuki

For

For

2.8 Elect Director Fukutake, Hideaki

For

For

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

3 Appoint Statutory Auditor Ishiguro, Miyuki

For

For

4 Approve Equity Compensation Plan

For

For

2.9 Elect Director Yasuda, Ryuji 2.10 Elect Director Kuwayama, Nobuo

Best Buy Co., Inc.

BGEO Group plc

35

13/06/2017 USA

01/06/2017 United Kingdom

Annual

Annual

1a Elect Director Lisa M. Caputo

For

For

1b Elect Director J. Patrick Doyle

For

For

1c Elect Director Russell P. Fradin

For

For

1d Elect Director Kathy J. Higgins Victor

For

Against

1e Elect Director Hubert Joly

For

For

1f Elect Director David W. Kenny

For

For

1g Elect Director Karen A. McLoughlin

For

For

1h Elect Director Thomas L. "Tommy" Millner

For

For

1i Elect Director Claudia F. Munce

For

For

1j Elect Director Gerard R. Vittecoq

For

For

2 Ratify Deloitte & Touche, LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Amend Omnibus Stock Plan

For

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Approve Remuneration Report

For

For

4 Approve Remuneration Policy

For

For

5 Re-elect Neil Janin as Director

For

For

6 Re-elect Irakli Gilauri as Director

For

For

7 Re-elect David Morrison as Director

For

For

8 Re-elect Alasdair Breach as Director

For

For

9 Re-elect Kim Bradley as Director

For

For

10 Re-elect Tamaz Georgadze as Director

For

For

11 Re-elect Hanna Loikkanen as Director

For

For

12 Reappoint Ernst & Young LLP as Auditors

For

For

13 Authorise Board to Fix Remuneration of Auditors

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

BH Global Ltd

BH Macro Ltd

Big C Supercenter PCL

36

Meeting Date Country

26/06/2017 Guernsey

23/06/2017 Guernsey

16/06/2017 Thailand

Meeting Type

Annual

Annual

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

14 Authorise EU Political Donations and Expenditure

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

18 Authorise Market Purchase of Ordinary Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify KPMG Channel Islands Limited as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

4 Re-elect Sir Michael Bunbury as Director

For

For

5 Re-elect John Hallam as Director

For

For

6 Re-elect Graham Harrison as Director

For

For

7 Re-elect Nicholas Moss as Director

For

For

8 Elect Julia Chapman as Director

For

For

9 Approve Remuneration Report

For

For

10 Authorise Issue of Equity with Pre-emptive Rights

For

For

11 Authorise Market Purchase of Shares

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify KPMG Channel Islands Limited as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

4 Re-elect Huw Evans as Director

For

For

5 Re-elect John Le Poidevin as Director

For

For

6 Re-elect Colin Maltby as Director

For

For

7 Re-elect Claire Whittet as Director

For

For

8 Approve Remuneration Report

For

For

9 Authorise Issue of Equity with Pre-emptive Rights

For

For

10 Authorise Market Purchase of Shares

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

For

For

1 Approve Minutes of Previous Meeting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Biocon Limited

Biogen Inc.

BlackBerry Limited

37

Meeting Date Country

04/06/2017 India

07/06/2017 USA

21/06/2017 Canada

Meeting Type

Special

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Acknowledge the Opinions on the Delisting of the Company's For Securities from Being the Listed Securities on the Stock Exchange of Thailand, and the Offer Provided by the Offeror, as Well as Other Relevant Information

For

3 Approve Delisting of the Company's Securities from the Stock Exchange of Thailand

For

For

4 Other Business

For

Against

1 Increase Authorized Share Capital and Amend Memorandum of Association

For

For

Substance of resolution unclear at time of voting

Postal Ballot

2 Approve Issuance of Bonus Shares

For

For

1a Elect Director Alexander J. Denner

For

For

1b Elect Director Caroline D. Dorsa

For

For

1c Elect Director Nancy L. Leaming

For

For

1d Elect Director Richard C. Mulligan

For

For

1e Elect Director Robert W. Pangia

For

Against

1f Elect Director Stelios Papadopoulos

For

For

1g Elect Director Brian S. Posner

For

For

1h Elect Director Eric K. Rowinsky

For

For

1i Elect Director Lynn Schenk

For

Against

1j Elect Director Stephen A. Sherwin

For

For

1k Elect Director Michel Vounatsos

For

For

2 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Approve Omnibus Stock Plan

For

Against

For

For

1.1 Elect Director John Chen 1.2 Elect Director Michael A. Daniels

For

For

1.3 Elect Director Timothy Dattels

For

Withhold

1.4 Elect Director Richard Lynch

For

For

1.5 Elect Director Laurie Smaldone Alsup

For

For

1.6 Elect Director Barbara Stymiest

For

For

Concerns about overall board structure

Concerns about overall board structure

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

BlackRock Emerging Europe plc

BlackRock Smaller Companies Trust plc

Meeting Date Country

20/06/2017 United Kingdom

08/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.7 Elect Director V. Prem Watsa

For

For

1.8 Elect Director Wayne Wouters

For

For

2 Approve Ernst & Young LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

3 Amend Equity Incentive Plan

For

Against

4 Re-approve Deferred Share Unit Plan

For

For

5 Advisory Vote on Executive Compensation Approach

For

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect Rachel Beagles as Director

For

For

6 Re-elect Mark Bridgeman as Director

For

For

7 Re-elect Philippe Delpal as Director

For

For

8 Re-elect Neil England as Director

For

For

9 Re-elect Robert Sheppard as Director

For

For

10 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

11 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Market Purchase of Ordinary Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect Nicholas Fry as Director

For

For

6 Re-elect Robert Robertson as Director

For

For

7 Re-elect Caroline Burton as Director

For

For

8 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

9 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

For

For

10 Authorise Issue of Equity with Pre-emptive Rights

38

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Blackstone/GSO Loan Financing Ltd

Meeting Date Country

21/06/2017 Jersey

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

12 Authorise Market Purchase of Ordinary Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Charlotte Valeur as Director

For

For

4 Re-elect Philip Austin as Director

For

For

5 Re-elect Gary Clark as Director

For

For

6 Re-elect Joanna Dentskevich as Director

For

For

7 Ratify Deloitte LLP as Auditors

For

For

8 Authorise Board to Fix Remuneration of Auditors

For

For

9 Authorise Market Purchase of Shares

For

For

For

For

1 Approve Agreement to Absorb CETIP S.A. - Mercados Organizados (CETIP)

For

For

2 Ratify PricewaterhouseCoopers Auditores Independentes as the Independent Firm to Appraise Proposed Transaction

For

For

3 Approve Independent Firm's Appraisal

For

For

4 Approve Absorption of CETIP S.A. - Mercados Organizados (CETIP)

For

For

5 Authorize Board to Ratify and Execute Approved Resolutions

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 17.5

For

For

For

For

10 Authorise Issue of Equity without Pre-emptive Rights BMFBOVESPA S.A.

BML Inc.

14/06/2017 Brazil

29/06/2017 Japan

Special

Annual

2.1 Elect Director Kondo, Kensuke 2.2 Elect Director Otsuka, Takashi

For

For

2.3 Elect Director Arai, Nobuki

For

For

2.4 Elect Director Hirose, Masaaki

For

For

2.5 Elect Director Yamashita, Katsushi

For

For

2.6 Elect Director Chikira, Masato

For

For

2.7 Elect Director Nakagawa, Masao

For

For

2.8 Elect Director Enomoto, Satoshi

For

For

2.9 Elect Director Takebe, Norihisa

For

For

2.10 Elect Director Kase, Naozumi

For

For

2.11 Elect Director Yamamura, Toshio

For

For

2.12 Elect Director Yamamoto, Kunikatsu 3.1 Appoint Statutory Auditor Morishita, Kenichi

39

For

For

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

BOC Hong Kong (Holdings) Ltd.

Meeting Date Country

28/06/2017 Hong Kong

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.2 Appoint Statutory Auditor Kagami, Hirohisa

For

For

3.3 Appoint Statutory Auditor Tokuono, Nobushige

For

For

4 Appoint Alternate Statutory Auditor Suzuki, Kazuo

For

Against

5 Approve Equity Compensation Plan

For

For

6 Approve Director Retirement Bonus

For

For

7 Appoint Deloitte Touche Tohmatsu LLC as New External Audit Firm

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

For

Against

Concerns about overall board structure Concerns about overall board structure

3a Elect Tian Guoli as Director

BOC Hong Kong (Holdings) Ltd.

28/06/2017 Hong Kong

Special

Bollore

01/06/2017 France

Annual/ Special

3b Elect Chen Siqing as Director

For

Against

3c Elect Li Jiuzhong as Director

For

For

3d Elect Cheng Eva as Director

For

For

3e Elect Choi Koon Shum as Director

For

For

4 Authorize Board to Fix Remuneration of Directors

For

For

5 Approve Ernst & Young as Auditor and Authorize Board or Duly Authorized Committee of the Board to Fix Their Remuneration

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

7 Authorize Repurchase of Issued Share Capital

For

For

8 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Continuing Connected Transactions and the New Caps

For

For

1 Approve Financial Statements and Discharge Directors

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 0.06 per Share

For

For

4 Approve Stock Dividend Program (Cash or New Shares)

For

For

5 Authorize Board to Provide an Advance on Payment of Dividend for Fiscal Year (New Shares)

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Ordinary Business

6 Approve Auditors' Special Report on Related-Party Transactions

For

Against

Concerns to protect shareholder interests

7 Reelect Marie Bollore as Director

For

Against

Concerns about overall board structure

8 Reelect Celine Merle-Beral as Director

For

Against

Concerns about overall board structure

9 Reelect Martine Studer as Director

For

Against

Concerns about overall board structure

For

For

10 Acknowledge End of Mandate of Michel Roussin, as Censor

40

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Approve Remuneration of Directors in the Aggregate Amount of EUR 1.2 Million

For

For

12 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

13 Non-Binding Vote on Compensation of Vincent Bollore, Chairman and CEO

For

Against

Concerns about linkage between pay and performance

14 Non-Binding Vote on Compensation of Cyrille Bollore, Vice-CEO

For

Against

Concerns about linkage between pay and performance

15 Approve Remuneration Policy of Vincent Bollore, CEO and Chairman

For

Against

Concerns about linkage between pay and performance

16 Approve Remuneration Policy of Cyrille Bollore, Vice-CEO

For

Against

Concerns about linkage between pay and performance

17 Authorize Filing of Required Documents/Other Formalities

For

For

1 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 200 Million

For

Against

2 Authorize Capitalization of Reserves of Up to EUR 200 Million for Bonus Issue or Increase in Par Value

For

For

3 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

For

Against

4 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

5 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

6 Authorize up to 5 Percent of Issued Capital for Use in Stock Option Plans

For

Against

7 Authorize Filing of Required Documents/Other Formalities

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect David Moorhouse as Director

For

For

6 Re-elect Mark Tracey as Director

For

For

7 Re-elect Jurgen Breuer as Director

For

For

8 Re-elect Alastair Farley as Director

For

For

9 Re-elect James Kidwell as Director

For

For

Extraordinary Business

Braemar Shipping Services plc

41

22/06/2017 United Kingdom

Annual

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Brenntag AG

Brookfield Asset Management Inc.

Brookfield Canada Office Properties

42

Meeting Date Country

08/06/2017 Germany

16/06/2017 Canada

28/06/2017 Canada

Meeting Type

Annual

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Re-elect Louise Evans as Director

For

For

11 Reappoint KPMG LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

16 Authorise Market Purchase of Ordinary Shares

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

2 Approve Allocation of Income and Dividends of EUR 1.05 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

5 Ratify PricewaterhouseCoopers GmbH as Auditors for Fiscal 2017

For

For

6.1 Elect Wijnand Donkers to the Supervisory Board

For

For

Concerns about director accountability

6.2 Elect Ulrich Harnacke to the Supervisory Board

For

For

Concerns about director accountability

7 Change Location of Registered Office to Essen, Germany

For

For

8 Amend Articles Re: Chairman of General Meeting

For

For

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

1.1 Elect Director M. Elyse Allan

For

For

1.2 Elect Director Angela F. Braly

For

For

1.3 Elect Director Murilo Ferreira

For

For

1.4 Elect Director Frank J. McKenna

For

For

1.5 Elect Director Rafael Miranda

For

For

1.6 Elect Director Youssef A. Nasr

For

For

1.7 Elect Director Seek Ngee Huat

For

For

1.8 Elect Director Diana L. Taylor

For

For

2 Approve Deloitte LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

3 Advisory Vote on Executive Compensation Approach

For

Against

Concerns about linkage between pay and performance

Meeting for Trust Unitholders and Special Voting Unitholders

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

B1 Elect Trustee Colum Bastable

For

For

B2 Elect Trustee G. Mark Brown

For

For

B3 Elect Trustee Thomas F. Farley

For

For

B4 Elect Trustee Roderick D. Fraser

For

For

B5 Elect Trustee Paul D. McFarlane

For

For

B6 Elect Trustee Susan L. Riddell Rose

For

For

B7 Elect Trustee T. Jan Sucharda

For

For

For

For

For

For

A Approve Redemption by the Trust of the Outstanding Trust Units Not Already Owned by Brookfield Property Partners L.P.

C Approve Deloitte LLP as Auditors and Authorize Board to Fix Their Remuneration Brother Industries Ltd.

23/06/2017 Japan

Annual

1.1 Elect Director Koike, Toshikazu 1.2 Elect Director Sasaki, Ichiro

For

For

1.3 Elect Director Ishiguro, Tadashi

For

For

1.4 Elect Director Kamiya, Jun

For

For

1.5 Elect Director Kawanabe, Tasuku

For

For

1.6 Elect Director Tada, Yuichi

For

For

1.7 Elect Director Nishijo, Atsushi

For

For

1.8 Elect Director Hattori, Shigehiko

For

For

1.9 Elect Director Fukaya, Koichi

For

For

1.10 Elect Director Matsuno, Soichi

For

For

1.11 Elect Director Takeuchi, Keisuke

For

For

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Annual Report and Its Summary

For

For

5 Approve P2016 Profit Distribution Plan

For

For

6 Approve Ernst & Young Hua Ming LLP as PRC Auditor and Internal Control Audit Institution and Ernst & Young as Auditor Outside the PRC and Authorize Board to Fix Their Remuneration

For

For

7 Approve Provision of Guarantee by the Group

For

Against

2 Approve Annual Bonus BYD Company Ltd.

43

06/06/2017 China

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

CALBEE, Inc.

Cambian Group plc

Meeting Date Country

21/06/2017 Japan

05/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Approve Provision of Guarantee by the Company and Its Subsidiaries for External Parties

For

For

9 Approve Estimated Cap of Ordinary Connected Transactions for the Year 2017

For

For

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

11 Approve Issuance by BYD Electronic (International) Company Limited of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

12 Approve Use of Short-term Intermittent Funds for Entrusted Wealth For Management and Related Transactions

For

13 Authorize Board to Determine Proposed Plan for the Issuance of Debt Financing Instrument

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 42

For

For

2.1 Elect Director Matsumoto, Akira

For

For

2.2 Elect Director Ito, Shuji

For

For

2.3 Elect Director Mogi, Yuzaburo

For

For

2.4 Elect Director Takahara, Takahisa

For

For

2.5 Elect Director Fukushima, Atsuko

For

For

2.6 Elect Director Miyauchi, Yoshihiko

For

For

2.7 Elect Director Weiwei Yao

For

For

3 Appoint Alternate Statutory Auditor Uchida, Kazunari

For

For

4 Approve Annual Bonus

For

For

5 Approve Trust-Type Equity Compensation Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Reappoint Deloitte LLP as Auditors

For

For

4 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

5 Re-elect Saleem Asaria as Director

For

For

6 Re-elect Alfred Foglio as Director

For

For

7 Re-elect Christopher Kemball as Director

For

For

8 Re-elect Dr Graham Rich as Director

For

For

9 Re-elect Mike Butterworth as Director

For

For

For

For

10 Elect Donald Muir as Director

44

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Cancom SE

Capita plc

45

Meeting Date Country

20/06/2017 Germany

13/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Elect Anne Carrie as Director

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

15 Authorise Market Purchase of Ordinary Shares

For

For

16 Authorise EU Political Donations and Expenditure

For

For

17 Re-elect Christopher Kemball as Independent Non-Executive Director

For

For

18 Re-elect Dr Graham Rich as Independent Non-Executive Director

For

For

19 Re-elect Mike Butterworth as Independent Non-Executive Director

For

For

20 Elect Donald Muir as Independent Non-Executive Director

For

For

2 Approve Allocation of Income and Dividends of EUR 0.50 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

5 Ratify S & P GmbH as Auditors for Fiscal 2017

For

For

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

6.1 Elect Martin Wild to the Supervisory Board

For

For

6.2 Elect Marlies Terock to the Supervisory Board

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Elect Sir Ian Powell as Director

For

For

6 Re-elect Andy Parker as Director

For

For

7 Re-elect Nick Greatorex as Director

For

For

8 Re-elect Vic Gysin as Director

For

For

9 Re-elect Gillian Sheldon as Director

For

For

10 Re-elect John Cresswell as Director

For

For

11 Re-elect Andrew Williams as Director

For

For

12 Elect Chris Sellers as Director

For

For

13 Elect Matthew Lester as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

CarMax, Inc.

Carrefour

Meeting Date Country

26/06/2017 USA

15/06/2017 France

Meeting Type

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

14 Reappoint KPMG LLP as Auditors

For

For

15 Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

For

For

16 Authorise Issue of Equity with Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

19 Authorise Market Purchase of Ordinary Shares

For

For

20 Approve Long Term Incentive Plan

For

For

21 Approve Deferred Annual Bonus Plan

For

For

22 Approve Save As You Earn Option Scheme

For

For For

23 Approve Share Incentive Plan

For

1.1 Elect Director Ronald E. Blaylock

For

For

1.2 Elect Director Sona Chawla

For

For

1.3 Elect Director Alan B. Colberg

For

For

1.4 Elect Director Thomas J. Folliard

For

For

1.5 Elect Director Jeffrey E. Garten

For

Against

1.6 Elect Director Shira Goodman

For

For

1.7 Elect Director W. Robert Grafton

For

For

1.8 Elect Director Edgar H. Grubb

For

For

1.9 Elect Director William D. Nash

For

For

1.10 Elect Director Marcella Shinder

For

For

1.11 Elect Director John T. Standley

For

For

1.12 Elect Director Mitchell D. Steenrod

For

For

1.13 Elect Director William R. Tiefel

For

Against

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Amend Executive Incentive Bonus Plan

For

For

6 Report on Political Contributions

Against

For

For

For

Concerns about overall board structure Concerns about linkage between pay and performance

Proposal encourages enhanced transparency

Ordinary Business 1 Approve Financial Statements and Statutory Reports

46

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 0.70 per Share

For

For

4 Reelect Bernard Arnault as Director

For

Against

Concerns about overall board structure

5 Reelect Jean-Laurent Bonnafe as Director

For

Against

Concerns about overall board structure Concerns about overall board structure

6 Ratify Appointment of Flavia Buarque de Almeida as Director

For

Against

7 Elect Marie-Laure Sauty de Chalon as Director

For

For

8 Elect Lan Yan as Director

For

For

9 Approve Remuneration of Directors in the Aggregate Amount of EUR 1.2 Million

For

For

10 Renew Appointment of Mazars as Auditor

For

For

11 Approve Auditors' Special Report on Related-Party Transactions

For

Against

Concerns to protect shareholder interests

12 Non-Binding Vote on Compensation of CEO and Chairman

For

Against

Concerns about linkage between pay and performance

13 Approve Remuneration Policy of Executive Corporate Officers

For

Against

Concerns about linkage between pay and performance

14 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

15 Amend Article 11 of Bylaws Re: Employee Representative

For

For

16 Amend Article 11 and 12 of Bylaws Re: Age Limit of CEO and Directors

For

For

17 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4.4 Billion

For

Against

18 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 175 Million

For

For

19 Approve Issuance of Equity or Equity-Linked Securities for up to 20 Percent of Issued Capital Per Year for Private Placements, up to Aggregate Nominal Amount of EUR 175 Million

For

For

20 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above

For

For

21 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

For

For

22 Authorize Capitalization of Reserves of Up to EUR 500 Million for Bonus Issue or Increase in Par Value

For

For

Extraordinary Business

47

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Casio Computer Co. Ltd.

Catcher Technology Co., Ltd.

Caterpillar Inc.

Meeting Date Country

29/06/2017 Japan

19/06/2017 Taiwan

14/06/2017 USA

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

23 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 20

For

For

2.1 Elect Director Kashio, Kazuo

For

For

2.2 Elect Director Kashio, Kazuhiro

For

For

2.3 Elect Director Nakamura, Hiroshi

For

For

2.4 Elect Director Takagi, Akinori

For

For

2.5 Elect Director Masuda, Yuichi

For

For

2.6 Elect Director Ito, Shigenori

For

For

2.7 Elect Director Yamagishi, Toshiyuki

For

For

2.8 Elect Director Takano, Shin

For

For

2.9 Elect Director Saito, Harumi

For

For

2.10 Elect Director Ishikawa, Hirokazu

For

For

2.11 Elect Director Kotani, Makoto

For

For

3 Appoint Statutory Auditor Uchiyama, Tomoyuki

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of Ordinary Shares or Issuance of Ordinary Shares For to Raise Operational Funds or Participate in the Issuance of Global Depository Receipt

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Other Business

None

Against

For

For

1.1 Elect Director David L. Calhoun 1.2 Elect Director Daniel M. Dickinson

For

For

1.3 Elect Director Juan Gallardo

For

Against

1.4 Elect Director Jesse J. Greene, Jr.

For

For

1.5 Elect Director Jon M. Huntsman, Jr.

For

For

1.6 Elect Director Dennis A. Muilenburg

For

For

1.7 Elect Director William A. Osborn

For

Against

1.8 Elect Director Debra L. Reed

For

For

1.9 Elect Director Edward B. Rust, Jr.

48

For

For

1.10 Elect Director Susan C. Schwab

For

For

1.11 Elect Director Jim Umpleby

For

For

Substance of resolution unclear at time of voting

Concerns about overall board structure

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Cathay Financial Holding Co., Ltd.

Meeting Date Country

16/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.12 Elect Director Miles D. White

For

For

1.13 Elect Director Rayford Wilkins, Jr.

For

For

2 Ratify PricewaterhouseCoopers as Auditors

For

Against

Concerns about auditor independence

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

6 Report on Lobbying Payments and Policy

Against

For

Proposal encourages enhanced transparency

7 Reduce Ownership Threshold for Shareholders to Call Special Meeting

Against

For

Proposal enhances board accountability

8 Report on Lobbying Priorities

Against

Against

9 Include Sustainability as a Performance Measure for Senior Executive Compensation

Against

Against

10 Amend Compensation Clawback Policy

Against

For

Proposal enhances linkage between pay and performance

11 Require Independent Board Chairman

Proposal enhances board structure

Against

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Long-term Capital Increase

For

For

For

Against

6 Approve Release of Restrictions of Competitive Activities of Directors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3.1 Elect Chang Ching Kuei, Representative of He Hsin Capital Co., Ltd with Shareholder No. 336395 as Non-Independent Director

For

For

3.2 Elect Lee Hung Ming, Representative of He Hsin Capital Co., Ltd with Shareholder No. 336395 as Non-Independent Director

For

For

ELECT INDEPENDENDENT DIRECTOR VIA CUMULATIVE VOTING 5.1 Elect Edward Yung Do Way with ID No. A102143XXX as Independent Director

Cathay Real Estate Development Co. Ltd.

16/06/2017 Taiwan

Annual

Concerns about overall board structure

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

49

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.3 Elect Tsai Chung Yan, Representative of He Hsin Capital Co., Ltd with Shareholder No. 336395 as Non-Independent Director

For

For

3.4 Elect Tung Tzi Li, Representative of Cathay Charity Foundation with Shareholder No. 33055 as Non-Independent Director

For

For

3.5 Elect Chu Chung Chang, Representative of Cathay Real Estate Foundation with Shareholder No. 35678 as Non-Independent Director

For

For

3.6 Elect Lin Chin Liang, Representative of Cathay Real Estate For Employees Welfare Committee with Shareholder No. 9800 as NonIndependent Director

For

3.7 Elect Lin Shiou Ling with ID No. A202924XXX as Independent Director

For

For

3.8 Elect Wu Chih Wei with ID No. H120573XXX as Independent Director

For

For

3.9 Elect James Y. Chang with ID No. A102212XXX as Independent Director

For

For

For

For

4 Approve Release of Restrictions of Competitive Activities of Directors Celgene Corporation

50

14/06/2017 USA

Annual

1.1 Elect Director Robert J. Hugin

For

For

1.2 Elect Director Mark J. Alles

For

For

1.3 Elect Director Richard W. Barker

For

For

1.4 Elect Director Michael W. Bonney

For

For

1.5 Elect Director Michael D. Casey

For

Withhold

1.6 Elect Director Carrie S. Cox

For

For

1.7 Elect Director Michael A. Friedman

For

For

1.8 Elect Director Julia A. Haller

For

For

1.9 Elect Director Gilla S. Kaplan

For

Withhold

1.10 Elect Director James J. Loughlin

For

For

1.11 Elect Director Ernest Mario

For

Withhold

Concerns about overall board structure

Concerns about overall board structure Concerns about overall board structure

2 Ratify KPMG LLP as Auditors

For

For

3 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Provide For Confidential Running Vote Tallies On Executive Pay Matters

Against

Against

Cemig, Companhia Energetica De Minas Gerais

27/06/2017 Brazil

Special

1 Authorize the Company to Exceed the Limits, Specified under the Bylaws, of the Consolidated Debt and the Amount of Funds Allocated to Capital Investment and Acquisition of Assets

For

Against

Concerns to protect shareholder interests

Central Japan Railway Co.

23/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 70

For

For

Chang Hwa Commercial Bank Ltd.

16/06/2017 Taiwan

Annual

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve the Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6.1 Elect Chang Ming-Daw, Representative of Ministry of Finance with Shareholder No. 940001 as Non-Independent Director

For

For

Votes to favour our preferred candidates

6.2 Elect Juan Ching-Hwa, Representative of Ministry of Finance with Shareholder No. 940001 as Non-Independent Director

For

For

Votes to favour our preferred candidates

6.3 Elect Wang Shu-Min, Representative of Ministry of Finance with Shareholder No. 940001 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

6.4 Elect Lin Chih-Hsien, Representative of National Development Fund For with Shareholder No. 71695 as Non-Independent Director

Do Not Vote

Votes to favour our preferred candidates

6.5 Elect Liao Sheng-li, Representative of Taiwan Business Bank with Shareholder No. 920434 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

6.6 Elect Lee Shih-Tsung, Representative of Lee Investment Co., Ltd with Shareholder No. 3013829 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

6.7 Elect Kuo Hsueh-Chun, Representative of Lungyen Life Service Corp For with Shareholder No. 959743 as Non-Independent Director

Do Not Vote

Votes to favour our preferred candidates

6.8 Elect Wu Cheng-Ching, Representative of Taishin Financial Holding Co., Ltd with Shareholder No. 2837094 as Non-Independent Director

For

For

Votes to favour our preferred candidates

6.9 Elect Chen Hwai-Chou, Representative of Taishin Financial Holding Co., Ltd with Shareholder No. 2837094 as Non-Independent Director

For

For

Votes to favour our preferred candidates

For

For

Votes to favour our preferred candidates

ELECT 6 AMONG 12 NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

6.10 Elect Lin Cheng-Hsien, Representative of Taishin Financial Holding Co., Ltd with Shareholder No. 2837094 as Non-Independent Director

51

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6.11 Elect Wang Wen-Yew, Representative of Taishin Financial Holding Co., Ltd with Shareholder No. 2837094 as Non-Independent Director

For

For

Votes to favour our preferred candidates

6.12 Elect Cheng Chia-Chung, Representative of Taishin Financial Holding Co., Ltd with Shareholder No. 2837094 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

6.13 Elect Liang Kuo-Yuan with ID No. M100671XXX as Independent Director

For

Against

Votes to favour our preferred candidates

6.14 Elect Yu Chi-Chang with ID No. B100920XXX as Independent Director

For

For

Votes to favour our preferred candidates

6.15 Elect Huang Ming-Hsiang with ID No. L103022XXX as Independent For Director

Against

Votes to favour our preferred candidates

6.16 Elect Pan Jung-Chun with ID No. T102205XXX as Independent Director

For

For

Votes to favour our preferred candidates

6.17 Elect Hsu Chao-Ching with ID No.N122517XXX as Independent Director

For

Against

Votes to favour our preferred candidates

6.18 Elect Chen Deng-Shan with ID No. Q100509XXX as Independent Director

For

For

Votes to favour our preferred candidates

7 Approve Release of Restrictions of Competitive Activities of Directors

For

For

1 Approve Minutes of Previous Meeting

For

For

2 Approve Increase in Registered Capital

For

For

3 Amend Memorandum of Association to Reflect Increase in Registered Capital

For

For

4 Approve Allocation of Newly Issued Ordinary Shares to Existing Shareholders

For

For

1.1 Reelect Gil Shwed as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

1.2 Reelect Marius Nacht as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

1.3 Reelect Jerry Ungerman as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

1.4 Reelect Dan Propper as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

ELECT 3 AMONG 6 INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

Charoen Pokphand Foods PCL

27/06/2017 Thailand

Special

5 Other Business Check Point Software Technologies Ltd. 07/06/2017 Israel

52

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Cheng Shin Rubber Industry Co. Ltd.

Meeting Date Country

15/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.5 Reelect David Rubner as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

1.6 Reelect Tal Shavit as Director Until the End of the Next Annual General Meeting

For

Abstain

Concerns about overall board structure

2.1 Reelect Irwin Federman as External Director for a Three-Year Period

For

Abstain

Concerns about overall board structure

2.2 Reelect Ray Rothrock as External Director for a Three-Year Period

For

Abstain

Concerns about overall board structure

3 Reappoint Kost, Forer, Gabbay & Kasierer as Auditors and Authorize For Board to Fix Their Remuneration

For

4 Approve Employment Terms of Gil Shwed, CEO

For

For

A Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Amend Procedures for Endorsement, Guarantees and Lending Funds to Other Parties

For

For

6 Amend Rules and Procedures for Election of Directors and Supervisors

For

For

7.1 Elect Hsu En De with ID No. Q121432XXX as Independent Director For

For

Votes to favour our preferred candidates

7.2 Elect Too Jui Rze with ID No. N102348XXX as Independent Director For

For

Votes to favour our preferred candidates

7.3 Elect Chen Shuei Jin with ID No. P120616XXX as Independent Director

For

For

Votes to favour our preferred candidates

7.4 Elect Non-independent Director No. 1

None

Against

Votes to favour our preferred candidates

7.5 Elect Non-independent Director No. 2

None

Against

Votes to favour our preferred candidates

7.6 Elect Non-independent Director No. 3

None

Against

Votes to favour our preferred candidates

7.7 Elect Non-independent Director No. 4

None

Against

Votes to favour our preferred candidates

7.8 Elect Non-independent Director No. 5

None

Against

Votes to favour our preferred candidates

7.9 Elect Non-independent Director No. 6

None

Against

Votes to favour our preferred candidates

7.10 Elect Non-independent Director No. 7

None

Against

Votes to favour our preferred candidates

7.11 Elect Non-independent Director No. 8

None

Against

Votes to favour our preferred candidates

Not a controlling shareholder and no personal interest

ELECT INDEPENDENT DIRECTORS AND NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

53

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Chiba Bank Ltd.

Chicony Electronics Co., Ltd.

China Airlines Ltd.

China Bluechemical Ltd.

54

Meeting Date Country

28/06/2017 Japan

07/06/2017 Taiwan

22/06/2017 Taiwan

02/06/2017 China

Meeting Type

Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 7.5

For

For

2.1 Elect Director Sakuma, Hidetoshi

For

For

2.2 Elect Director Iijima, Daizo

For

For

2.3 Elect Director Ikeda, Tomoyuki

For

For

2.4 Elect Director Yonemoto, Tsutomu

For

For

2.5 Elect Director Yokota, Tomoyuki

For

For

2.6 Elect Director Tashima, Yuko

For

For

2.7 Elect Director Takayama, Yasuko

For

For

3.1 Appoint Statutory Auditor Sakamoto, Tomohiko

For

For

3.2 Appoint Statutory Auditor Ishihara, Kazuhiko

For

For

1 Approve Business Operations Report, Financial Statements and Consolidated Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Trading Procedures Governing Derivatives Products

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Other Business

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Statement of Profit and Loss Appropriation

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Amendments to Lending Procedures and Caps

For

For

5 Approve Release of Restrictions of Competitive Activities of Chairman Nuan Hsuan Ho and Director Su Chien Hsieh

For

For

6 Other Business

None

Against

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Supervisory Committee

For

For

3 Approve Audited Financial Statements and Auditors' Report

For

For

4 Approve Distribution of Profit and Special Dividend

For

For

5 Approve Budget Proposals

For

For

Concerns about independence

Substance of resolution unclear at time of voting

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

China Bluechemical Ltd.

02/06/2017 China

Special

China Cinda Asset Management Co., Ltd.

30/06/2017 China

Annual

China Communications Construction Company Ltd.

China Communications Services Corp. Ltd.

55

16/06/2017 China

23/06/2017 China

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve Deloitte Touche Tohmatsu Certified Public Accountants as Overseas Auditors and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

8 Authorize Repurchase of Issued H Share Capital

For

For

1 Authorize Repurchase of Issued H Share Capital

For

For

1 Approve Work Report of the Board

For

For

2 Approve Work Report of the Board of Supervisors

For

For

3 Approve Final Financial Account Plan

For

For

4 Approve Profit Distribution Plan

For

For

5 Approve Ernst & Young Hua Ming LLP and Ernst & Young as the Onshore and Offshore Accounting Firms for 2017

For

For

1 Approve 2016 Audited Financial Statements

For

For

2 Approve Profit Distribution Plan and Final Dividend

For

For

3 Approve Ernst & Young as International Auditor and Ernst & Young For Hua Ming LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration

For

4 Approve Estimated Cap for the Internal Guarantees of the Group in 2017

For

Against

5 Approve 2016 Report of the Board

For

For

6 Approve 2016 Report of the Supervisory Committee

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

CLASS MEETING FOR HOLDERS OF H SHARES

AGM BALLOT FOR HOLDERS OF H SHARES

8 Approve the Launch of Asset-Backed Securitization by the Company For and its Subsidiaries

For

9 Approve Issuance of Medium and Long-Term Bonds

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Profit Distribution Plan and Payment of Final Dividend

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Appoint Deloitte Touche Tohmatsu and Deloitte Touche Tohmatsu Certified Public Accountants LLP as International and Domestic Auditors, Respectively, and Authorize Board to Fix Their Remuneration

For

For

4 Elect Shao Guanglu as Director, Approve His Service Contract and Authorize Board to Fix His Remuneration

For

For

5.1 Approve Issuance of Debentures

For

Against

Concerns to protect shareholder interests

5.2 Authorize Any Two of Three Directors Duly Authorized by the Board to Deal With All Matters in Relation to Issuance of Debentures

For

Against

Concerns to protect shareholder interests

5.3 Approve Validity Period of the General Mandate to Issue Debentures

For

Against

Concerns to protect shareholder interests

For

Against

Concerns to protect shareholder interests

7 Authorize Board to Increase Registered Capital of the Company and For Amend Articles of Association to Reflect Such Increase

Against

Concerns to protect shareholder interests

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3a Elect Guo Jingbin as Director

For

For

3b Elect Chan Chi On (Derek Chan) as Director

For

For

4 Authorize Board to Fix Remuneration of Directors

For

For

5 Approve KPMG as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Authorize Repurchase of Issued Share Capital

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

8 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of Supervisors

For

For

3 Approve 2016 Final Financial Accounts

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve Budget of 2017 Fixed Assets Investment

For

For

Resolutions in Relation to Issuance of Debentures

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

China Conch Venture Holdings Ltd

China Construction Bank Corporation

28/06/2017 Cayman Islands

15/06/2017 China

Annual

Annual

AGM BALLOT FOR HOLDERS OF H SHARES ORDINARY RESOLUTIONS

56

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve Remuneration Distribution and Settlement Plan for Directors in 2015

For

For

7 Approve Remuneration Distribution and Settlement Plan for Supervisors in 2015

For

For

8 Elect Malcolm Christopher McCarthy as Director

For

For

9 Elect Feng Bing as Director

For

For

10 Elect Zhu Hailin as Director

For

For

11 Elect Wu Min as Director

For

For

12 Elect Zhang Qi as Director

For

For

13 Elect Guo You as Supervisor

For

For

14 Approve PricewaterhouseCoopers Zhong Tian LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

1 Approve Issuance of Eligible Tier-2 Capital Instruments

For

For

2 Approve Amendments to Articles of Association

For

Against

3 Amend Rules of Procedures Regarding General Meetings of Shareholders' General Meetings

For

For

4 Amend Rules of Procedures for the Board of Directors

For

For

5 Amend Rules of Procedures for the Board of Supervisors

For

For

1 Approve Guarantee Provision for Wholly-owned Subsidiary

For

For

For

For

1.2 Approve Method of Issuance in Relation to the Non-Public Issuance For of H Shares

For

1.3 Approve Target Subscribers in Relation to the Non-Public Issuance of H Shares

For

For

1.4 Approve Issuance Size in Relation to the Non-Public Issuance of H Shares

For

For

1.5 Approve Method of Subscription in Relation to the Non-Public Issuance of H Shares

For

For

1.6 Approve Price Benchmark Date in Relation to the Non-Public Issuance of H Shares

For

For

SPECIAL RESOLUTIONS

China Cyts Tours Holding Co., Ltd.

07/06/2017 China

Special

China Everbright Bank Co., Ltd.

20/06/2017 China

Annual

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES SPECIAL RESOLUTIONS RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF H SHARES 1.1 Approve Class of Shares and the Par Value in Relation to the Non-Public Issuance of H Shares

57

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.7 Approve Issue Price in Relation to the Non-Public Issuance of H Shares

For

For

1.8 Approve Lock-up Period in Relation to the Non-Public Issuance of H Shares

For

For

1.9 Approve Place of Listing in Relation to the Non-Public Issuance of H Shares

For

For

1.10 Approve Arrangements for Accumulated Profits in Relation to the Non-Public Issuance of H Shares

For

For

1.11 Approve Use of Proceeds in Relation to the Non-Public Issuance of H Shares

For

For

1.12 Approve Validity Period of Resolution in Relation to the Non-Public Issuance of H Shares

For

For

2 Amend Articles of Association in Relation to the Non-Public Issuance of H Shares

For

For

3 Authorize Board to Handle All Matters in Relation to the Non-Public Issuance of H Shares

For

For

1 Approve 2016 Work Report of the Board of Directors

For

For

2 Approve 2016 Work Report of the Board of Supervisors

For

For

3 Approve 2017 Budget Plan of Fixed Asset Investment

For

For

4 Approve 2016 Audited Accounts Report

For

For

5 Approve 2016 Profit Distribution Plan

For

For

6 Approve Appraisal of Audit Work for the Year 2016 Performed by Ernst & Young Hua Ming/Ernst & Young and Re-appoint Ernst & Young Hua Ming/Ernst & Young as Auditor for the Year 2017

For

For

7 Approve Remuneration Standards of Directors for the Year 2016

For

For

8 Approve Remuneration Standards of Supervisors for the Year 2016

For

For

9.1 Approve Subscription Agreement in Relation to the Subscription of For Non-public Issuance of H Shares of China Everbright Bank Company Limited by China Everbright Group Limited

For

9.2 Approve Subscription Agreement in Relation to the Subscription of For Non-public Issuance of H Shares of China Everbright Bank Company Limited by Overseas Chinese Town Enterprises Company

For

10 Approve Waiver to China Everbright Group Limited from Making the For General Acquisition Offer

For

ORDINARY RESOLUTIONS

RESOLUTIONS RELATING TO THE SUBSCRIPTION AGREEMENTS

58

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Everbright Bank Co., Ltd.

Meeting Date Country

20/06/2017 China

Meeting Type

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Approve Connected Transaction in Relation to the Non-public Issuance of H shares

For

For

12 Approve Report of Use of Proceeds from Previous Offering

For

For

For

For

1.2 Approve Method of Issuance in Relation to the Non-Public Issuance For of H Shares

For

1.3 Approve Target Subscribers in Relation to the Non-Public Issuance of H Shares

For

For

1.4 Approve Issuance Size in Relation to the Non-Public Issuance of H Shares

For

For

1.5 Approve Method of Subscription in Relation to the Non-Public Issuance of H Shares

For

For

1.6 Approve Price Benchmark Date in Relation to the Non-Public Issuance of H Shares

For

For

1.7 Approve Issue Price in Relation to the Non-Public Issuance of H Shares

For

For

1.8 Approve Lock-up Period in Relation to the Non-Public Issuance of H Shares

For

For

1.9 Approve Place of Listing in Relation to the Non-Public Issuance of H Shares

For

For

1.10 Approve Arrangements for Accumulated Profits in Relation to the Non-Public Issuance of H Shares

For

For

1.11 Approve Use of Proceeds in Relation to the Non-Public Issuance of H Shares

For

For

1.12 Approve Validity Period of Resolution in Relation to the Non-Public Issuance of H Shares

For

For

2 Amend Articles of Association in Relation to the Non-Public Issuance of H Shares

For

For

3 Authorize Board to Handle All Matters in Relation to the Non-Public Issuance of H Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

CLASS MEETING FOR HOLDERS OF H SHARES RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF H SHARES 1.1 Approve Class of Shares and the Par Value in Relation to the Non-Public Issuance of H Shares

China Evergrande Group

59

15/06/2017 Cayman Islands

Annual

2 Elect He Miaoling as Director

For

Against

3 Elect Huang Xiangui as Director

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Jinmao Holdings Group Ltd.

Meeting Date Country

07/06/2017 Hong Kong

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Elect Pan Darong as Director

For

For

5 Elect Shi Junping as Director

For

For

6 Elect He Qi as Director

For

Against

Concerns about overall board structure

7 Elect Xie Hongxi as Director

For

Against

Concerns about overall board structure

8 Authorize Board to Fix Remuneration of Directors

For

For

9 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

11 Authorize Repurchase of Issued Share Capital

For

For

12 Authorize Reissuance of Repurchased Shares

For

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3A Elect Li Congrui as Director

For

For

3B Elect Yang Lin as Director

For

For

3C Elect Lau Hon Chuen, Ambrose as Director

For

Against

3D Elect Su Xijia as Director

For

For

4 Authorize Board to Fix Remuneration of Directors

China Longyuan Power Group Corporation Ltd.

60

20/06/2017 China

Annual

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns about overall board structure

For

For

5 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

6 Authorize Repurchase of Issued Share Capital

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns about overall board structure Concerns about overall board structure

8 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Board

For

For

3 Accept 2016 Independent Auditor's Report and Audited Financial Statements

For

For

4 Approve 2016 Final Financial Accounts

For

For

5 Approve 2016 Profit Distribution Plan

For

For

6 Approve 2017 Financial Budget Plan

For

For

7 Approve Remuneration of Directors and Supervisors

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

9 Approve Application for Registration and Issuance of Debt Financing For Instruments of Non-Financial Enterprises in the PRC

For

8 Approve Ernst & Young Hua Ming LLP as International Auditors and Authorize the Audit Committee of the Board to Fix Their Remuneration

China Merchants Port Holdings Company Limited

02/06/2017 Hong Kong

Annual

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

11 Approve Issuance of Corporate Bonds in the PRC

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3Aa Elect Li Xiaopeng as Director

For

For

3Ab Elect Wang Hong as Director

For

For

3Ac Elect Hua Li as Director

For

For

3Ad Elect Wang Zhixian as Director

For

For

3Ae Elect Zheng Shaoping as Director

For

For

3Af Elect Shi Wei as Director

For

For

3Ag Elect Bong Shu Ying Francis as Director

For

For

For

For

For

For

5A Approve Grant of Options Under the Share Option Scheme

For

Against

Concerns about linkage between pay and performance

5B Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

5C Authorize Repurchase of Issued Share Capital

For

For

5D Authorize Reissuance of Repurchased Shares

For

Against

For

For

1 Approve 2016 Annual Report

For

For

2 Approve 2016 Final Financial Report

For

For

3 Approve 2016 Profit Distribution Plan

For

For

4 Approve 2017 Interim Profit Distribution Plan

For

For

5 Approve 2017 Annual Budgets

For

For

3B Authorize Board to Fix Remuneration of Directors 4 Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration

China Merchants Port Holdings Company Limited

02/06/2017 Hong Kong

Special

China Minsheng Banking Corp., Ltd.

16/06/2017 China

Annual

61

Concerns about overall board structure

1 Approve Share Purchase Agreement and Related Transactions

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve 2016 Work Report of the Board of Directors

For

For

7 Approve 2016 Work Report of the Supervisory Board

For

For

8 Approve KPMG Huazhen LLP and KPMG Certified Public Accountants as the Domestic and International Auditors, Respectively and Authorize Board to Fix Their Remuneration

For

For

For

For

9.02 Approve Issue Size in Relation to the Issuance of A Share Convertible For Bonds

For

9.03 Approve Par Value and Issue Price in Relation to the Issuance of A Share Convertible Bonds

For

For

9.04 Approve Term in Relation to the Issuance of A Share Convertible Bonds

For

For

9.05 Approve Interest Rate in Relation to the Issuance of A Share Convertible Bonds

For

For

9.06 Approve Method and Timing of Interest Payment in Relation to the Issuance of A Share Convertible Bonds

For

For

9.07 Approve Conversion Period in Relation to the Issuance of A Share Convertible Bonds

For

For

9.08 Approve Determination and Adjustment of the Conversion Price of the Convertible Bonds in Relation to the Issuance of A Share Convertible Bonds

For

For

9.09 Approve Downward Adjustment to Conversion Price in Relation to the Issuance of A Share Convertible Bonds

For

For

9.10 Approve Method for Determining the Number of Shares for For Conversion in Relation to the Issuance of A Share Convertible Bonds

For

9.11 Approve Entitlement to Dividend in the Year of Conversion in Relation to the Issuance of A Share Convertible Bonds

For

For

9.12 Approve Terms of Redemption in Relation to the Issuance of A Share For Convertible Bonds

For

9.13 Approve Terms of Sale Back in Relation to the Issuance of A Share Convertible Bonds

For

For

9.14 Approve Method of Issuance and Target Investors in Relation to the Issuance of A Share Convertible Bonds

For

For

9.15 Approve Subscription Arrangement for the Existing Holders of A shares in Relation to the Issuance of A Share Convertible Bonds

For

For

RESOLUTIONS RELATING TO THE ISSUANCE OF A SHARE CONVERTIBLE BONDS 9.01 Approve Types of Securities to be Issued in Relation to the Issuance of A Share Convertible Bonds

62

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Minsheng Banking Corp., Ltd.

Meeting Date Country

16/06/2017 China

Meeting Type

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.16 Approve Convertible Bond Holders and Their Meetings in Relation to the Issuance of A Share Convertible Bonds

For

For

9.17 Approve Use of Proceeds in Relation to the Issuance of A Share Convertible Bonds

For

For

9.18 Approve Guarantee and Security in Relation to the Issuance of A Share Convertible Bonds

For

For

9.19 Approve Validity Period of the Resolutions in Relation to the Issuance of A Share Convertible Bonds

For

For

10 Approve Feasibility Analysis Report of the Use of Proceeds from the Issuance of A Share Convertible Bonds

For

For

11 Approve Impacts on Dilution of Current Returns of Issuance of A Share Convertible Bonds and the Remedial Measures

For

For

12 Approve Report of the Use of Proceeds from the Previous Issuance

For

For

13 Authorize Board of Directors and Its Authorized Persons to Exercise Full Power to Deal with Matters Relating to the Issuance of A Share Convertible Bonds

For

For

14 Approve Formulation of Capital Management Plan for 2017 to 2019

For

For

15 Approve Domestic and Overseas Issuance of Financial Bonds and Tier-Two Capital Bonds in the Next Three Years

For

Against

Concerns to protect shareholder interests

16 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

For

For

1.02 Approve Issue Size in Relation to the Issuance of A Share Convertible For Bonds

For

1.03 Approve Par Value and Issue Price in Relation to the Issuance of A Share Convertible Bonds

For

For

1.04 Approve Term in Relation to the Issuance of A Share Convertible Bonds

For

For

1.05 Approve Interest Rate in Relation to the Issuance of A Share Convertible Bonds

For

For

1.06 Approve Method and Timing of Interest Payment in Relation to the Issuance of A Share Convertible Bonds

For

For

CLASS MEETING FOR HOLDERS OF H SHARES RESOLUTIONS RELATING TO THE ISSUANCE OF A SHARE CONVERTIBLE BONDS 1.01 Approve Types of Securities to be Issued in Relation to the Issuance of A Share Convertible Bonds

63

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Motor Corp

China Oilfield Services Ltd.

64

Meeting Date Country

28/06/2017 Taiwan

01/06/2017 China

Meeting Type

Annual

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.07 Approve Conversion Period in Relation to the Issuance of A Share Convertible Bonds

For

For

1.08 Approve Determination and Adjustment of the Conversion Price of the Convertible Bonds in Relation to the Issuance of A Share Convertible Bonds

For

For

1.09 Approve Downward Adjustment to Conversion Price in Relation to the Issuance of A Share Convertible Bonds

For

For

1.10 Approve Method for Determining the Number of Shares for For Conversion in Relation to the Issuance of A Share Convertible Bonds

For

1.11 Approve Entitlement to Dividend in the Year of Conversion in Relation to the Issuance of A Share Convertible Bonds

For

For

1.12 Approve Terms of Redemption in Relation to the Issuance of A Share For Convertible Bonds

For

1.13 Approve Terms of Sale Back in Relation to the Issuance of A Share Convertible Bonds

For

For

1.14 Approve Method of Issuance and Target Investors in Relation to the Issuance of A Share Convertible Bonds

For

For

1.15 Approve Subscription Arrangement for the Existing Holders of A shares in Relation to the Issuance of A Share Convertible Bonds

For

For

1.16 Approve Convertible Bond Holders and Their Meetings in Relation to the Issuance of A Share Convertible Bonds

For

For

1.17 Approve Use of Proceeds in Relation to the Issuance of A Share Convertible Bonds

For

For

1.18 Approve Guarantee and Security in Relation to the Issuance of A Share Convertible Bonds

For

For

1.19 Approve Validity Period of the Resolutions in Relation to the Issuance of A Share Convertible Bonds

For

For

2 Authorize Board of Directors and Its Authorized Persons to Exercise Full Power to Deal with Matters Relating to the Issuance of A Share Convertible Bonds

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Trading Procedures Governing Derivatives Products

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

For

CLASS MEETING FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Profit Distribution Plan and Annual Dividend

For

For

3 Approve Report of the Directors

For

For

4 Accept Report of the Supervisory Committee

For

For

5 Approve Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditors and Deloitte Touche Tohmatsu as International Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Elect Law Hong Ping, Lawrence as Director

For

For

7 Approve Provision of Guarantees to Relevant Subsidiaries

For

For

8 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

9 Authorize Repurchase of Issued Share Capital

For

For

1 Authorize Repurchase of Issued Share Capital China Oilfield Services Ltd.

01/06/2017 China

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

10 Amend Articles of Association China Overseas Land & Investment Ltd. 12/06/2017 Hong Kong

China Pacific Insurance (Group) Co., Ltd 09/06/2017 China

65

Annual

Annual

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

Concerns to protect shareholder interests

For

For

3a Elect Yan Jianguo as Director

For

For

3b Elect Nip Yun Wing as Director

For

For

3c Elect Chang Ying as Director

For

For

3d Elect Lam Kwong Siu as Director

For

For

3e Elect Fan Hsu Lai Tai, Rita as Director

For

For

4 Authorize Board to Fix Remuneration of Directors

For

For

5 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Authorize Repurchase of Issued Share Capital

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

8 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Annual Report of A shares

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve 2016 Annual Report of H shares

For

For

5 Approve 2016 Financial Statements And Statutory Reports

For

For

6 Approve 2016 Profit Distribution Plan

For

For

7 Approve PricewaterhouseCoopers Zhong Tian LLP as PRC Auditor and Internal Control Auditor and PricewaterhouseCoopers as Overseas Auditor and Authorize Board to Fix Their Remuneration

For

For

8 Approve 2016 Due Diligence Report

For

For

9 Approve 2016 Report on Performance of Independent Directors

For

For

10 Approve Amendments to the Interim Administrative Measures on Related Party Transactions

For

For

For

For

12.1 Elect Kong Qingwei as Director

11 Approve the Development Plan for the Years 2017 to 2019

For

Against

12.2 Elect Huo Lianhong as Director

For

For

12.3 Elect Wang Jian as Director

For

Against

Concerns about overall board structure

12.4 Elect Wang Tayu as Director

For

Against

Concerns about overall board structure

12.5 Elect Kong Xiangqing as Director

For

Against

Concerns about overall board structure

12.6 Elect Zhu Kebing as Director

For

Against

Concerns about overall board structure

12.7 Elect Sun Xiaoning as Director

For

Against

Concerns about overall board structure

12.8 Elect Wu Junhao as Director

For

Against

Concerns about overall board structure

12.9 Elect Chen Xuanmin as Director

For

Against

Concerns about overall board structure

12.10 Elect Bai Wei as Director

For

Against

Concerns about overall board structure

12.11 Elect Lee Ka Sze, Carmelo as Director

For

Against

Concerns about overall board structure

12.12 Elect Lam Chi Kuen as Director

For

For

12.13 Elect Zhou Zhonghui as Director

For

For

12.14 Elect Gao Shanwen as Director

For

Against

For

For

13.1 Elect Zhang Xinmei as Supervisor

China Petrochemical Development Corporation

66

08/06/2017 Taiwan

Annual

Concerns about overall board structure

Concerns about overall board structure

13.2 Elect Lin Lichun as Supervisor

For

For

13.3 Elect Zhou Zhuping as Supervisor

For

For

14 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

15 Amend Articles of Association

For

Against

Concerns to protect shareholder interests

16 Amend Rules and Procedures Regarding General Meetings of Shareholders

For

For

For

For

1 Approve Business Operations Report and Financial Statements

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Petroleum & Chemical Corp.

67

Meeting Date Country

28/06/2017 China

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of Overseas Guaranteed Convertible Bonds

For

For

4 Approve Amendments to Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Approve Issuance of Ordinary Shares or Issuance of Ordinary Shares For to Participate in the Issuance of Global Depository Receipt

For

AGM BALLOT FOR HOLDERS OF H SHARES 1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Financial Reports

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers as External Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Authorize Board to Determine the 2017 Interim Profit Distribution

For

For

7 Authorize Board to Determine the Proposed Plan for the Issuance of For Debt Financing Instruments

Against

Concerns to protect shareholder interests

8 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

9 Elect Li Yunpeng as Director

For

For

10 Elect Zhao Dong as Supervisor

For

For

11 Amend Articles of Association and Rules of Procedures of Board Meetings

For

For

12 Approve Overseas Listing Plan of Sinopec Marketing Co., Ltd.

For

For

13 Approve Compliance of Overseas Listing of Sinopec Marketing Co., Ltd. with the Circular on Issues in Relation to Regulating Overseas Listing of Subsidiaries of Domestic-Listed Companies

For

For

14 Approve Undertaking of the Company to Maintain its Independent Listing Status

For

For

15 Approve Description of the Sustainable Profitability and Prospects of the Company

For

For

16 Authorize Board to Deal with Overseas Listing Matters of Sinopec Marketing Co., Ltd.

For

For

17 Approve Provision of Assured Entitlement to H-Share Shareholders of the Company Only for Overseas Listing of Sinopec Marketing Co., Ltd.

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name China Petroleum & Chemical Corp.

China Power International Development Ltd.

China Railway Construction Corporation Ltd.

Meeting Date Country 28/06/2017 China

06/06/2017 Hong Kong

15/06/2017 China

Meeting Type Special

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Provision of Assured Entitlement to H-Share Shareholders of the Company Only for Overseas Listing of Sinopec Marketing Co., Ltd.

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Elect Yu Bing as Director

For

For

4 Elect Guan Qihong as Director

For

For

5 Elect Yau Ka Chi as Director

For

For

6 Authorize Board to Fix Remuneration of Directors

For

For

7 Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration

For

For

8A Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

8B Authorize Repurchase of Issued Share Capital

For

For

8C Authorize Reissuance of Repurchased Shares

For

Against

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Work Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2016 Annual Report and Its Summary

For

For

6 Approve Determination of the Caps for Guarantees for Subsidiaries of the Company for 2017

For

For

7 Approve Transfer of Equity Interest Funded by the Proceeds Raised from the Non-public Issuance of A Shares in 2015 and Permanent Replenishment of Working Capital by the Proceeds from the Transfer and Remaining Uninvested Proceeds Raised from the Issuance

For

For

8 Approve Renewal of Mutual Supply of Services Framework Agreement

For

Against

9 Approve Payment of Fees for Auditing the 2016 Annual Report and Relevant Services

For

For

For

For

CLASS MEETING FOR HOLDERS OF H SHARES

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES

10 Approve Payment of 2016 Internal Control Audit Fees

68

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

China Railway Group Limited

Meeting Date Country

28/06/2017 China

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Approve Deloitte Touche Tohmatsu CPA LLP as External Auditors and Payment of 2017 Auditing Service Fee

For

For

12 Approve Remuneration of Directors and Supervisors

For

For

13 Approve Amendments to the Rules and Procedure for the Board of Directors

For

For

14 Approve Registration and Issuance of Debt Financing Instruments of the Company in the National Association of Financial Market Institutional Investors

For

Against

Concerns to protect shareholder interests

15 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

1 Approve 2016 Report of Board of Directors

For

For

2 Approve 2016 Report of Supervisory Committee

For

For

3 Approve 2016 Work Report of Independent Directors

For

For

4 Approve 2016 A Share Annual Report and the Abstract, H Share Annual Report and Results Announcement

For

For

5 Approve 2016 Audited Consolidated Financial Statements

For

For

6 Approve 2016 Profit Distribution Plan

For

For

7 Approve PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers as Domestic and Overseas Auditors, Respectively and Authorize Board to Fix Their Remuneration

For

For

8 Approve PricewaterhouseCoopers Zhong Tian LLP as Internal Control Auditors of the Company and Authorize Board to Fix Their Remuneration

For

For

9 Approve Provision of External Guarantee

AGM BALLOT FOR HOLDERS OF H SHARES

For

Against

10 Approve Amendments to Salary Management Measures of Directors and Supervisors

For

For

Concerns to protect shareholder interests

11 Approve 2016 Salary of Directors and Supervisors

For

For

12 Approve Purchase of Liability Insurance for Directors, Supervisors and Senior Management

For

For

13 Approve Issuance of Asset Securitisation Products

For

For

14 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

15 Approve Amendments to Articles of Association

For

Against

Concerns to protect shareholder interests

APPROVE THE PROPOSAL OF THE COMPOSITION PLAN OF THE FOURTH SESSION OF THE BOARD OF DIRECTORS

69

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

16.1 Elect Li Changjin as Director

None

For

16.2 Elect Zhang Zongyan as Director

None

For

16.3 Elect Zhou Mengbo as Director

None

For

16.4 Elect Zhang Xian as Director

None

For

16.5 Elect Guo Peizhang as Director

None

For

16.6 Elect Wen Baoman as Director

None

For

16.7 Elect Zheng Qingzhi as Director

None

For

16.8 Elect Chung Shui Ming Timpson as Director

None

Against

16.9 Elect Ma Zonglin as Director

None

For

Concerns about overall board structure

APPROVE THE PROPOSAL ON THE SHAREHOLDER REPRESENTATIVE SUPERVISORS OF THE FOURTH SESSION OF THE SUPERVISORY COMMITTEE

China Resources Land Ltd.

70

02/06/2017 Cayman Islands

Annual

17.1 Elect Liu Chengjun as Supervisor

None

For

17.2 Elect Chen Wenxin as Supervisor

None

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3.1 Elect Yu Jian as Director

For

For

3.2 Elect Zhang Dawei as Director

For

For

3.3 Elect Li Xin as Director

For

For

3.4 Elect Xie Ji as Director

For

For

3.5 Elect Yan Biao as Director

For

Against

Concerns about candidate

3.6 Elect Chen Rong as Director

For

For

3.7 Elect Chen Ying as Director

For

Against

Concerns about candidate

3.8 Elect Wang Yan as Director

For

Against

Concerns about candidate

3.9 Elect Zhong Wei as Director

For

For

3.10 Elect Sun Zhe as Director

For

For

3.11 Authorize Board to Fix Remuneration of Directors

For

For

4 Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration

For

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

7 Authorize Reissuance of Repurchased Shares

For

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name China Resources Power Holdings Co., Ltd.

China Shenhua Energy Co., Ltd.

Meeting Date Country

Meeting Type

08/06/2017 Hong Kong

Annual

23/06/2017 China

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3.1 Elect Zhou Junqing as Director

For

For

3.2 Elect Chen Ying as Director

For

Against

Concerns about overall board structure

3.3 Elect Wang Yan as Director

For

Against

Concerns about overall board structure

3.4 Elect Ma Chiu-Cheung, Andrew as Director

For

For

3.5 Authorize Board to Fix Remuneration of Directors

For

For

4 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

7 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Profit Distribution Plan and Final Dividend

For

For

5 Approve Special Dividend

For

For

6 Approve 2016 Remuneration of Directors and Supervisors

AGM BALLOT FOR HOLDERS OF H SHARES

For

For

7 Approve Deloitte Touche Tohmatsu Certified Public Accountants For LLP as PRC Auditors and Deloitte Touche Tohmatsu as International Auditors and Authorize Directors' Committee to Fix Their Remuneration

For

8 Approve Issuance of Bonds and Related Transactions

For

Against

For

For

Concerns to protect shareholder interests

ELECT 3 EXECUTIVE DIRECTORS AND 1 NON-EXECUTIVE DIRECTOR VIA CUMULATIVE VOTING 9.01 Elect Ling Wen as Director 9.02 Elect Han Jianguo as Director

For

For

9.03 Elect Li Dong as Director

For

For

9.04 Elect Zhao Jibin as Director

For

For

For

Against

ELECT 3 INDEPENDENT NON-EXECUTIVE DIRECTORS VIA CUMULATIVE VOTING 10.01 Elect Tam Wai Chu, Maria as Director

71

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10.02 Elect Jiang Bo as Director

For

For

10.03 Elect Zhong Yingjie, Christina as Director

For

For

11.01 Elect Zhai Richeng as Supervisor

For

For

11.02 Elect Zhou Dayu as Supervisor

For

For

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Supervisory Committee

For

For

3 Approve Audited Consolidated Financial Statements

For

For

4 Approve Profit Distribution Proposal

For

For

5 Approve KPMG Huazhen (Special General Partnership) as Auditors For for Domestic, U.S. and Internal Control of Financial Reporting and KPMG as Auditors for Hong Kong Financial Reporting and Authorize Board to Fix Their Remuneration

For

6 Approve Authorization to Xiamen Airlines Company Limited to Provide Guarantees to Hebei Airlines Company Limited and Jiangxi Airlines Company Limited

For

Against

Concerns to protect shareholder interests

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

8 Approve Issuance of Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

9 Approve Aircraft Finance Lease Framework Agreement

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3A Elect Tian Shuchen as Director

For

Against

Concerns about overall board structure

3B Elect Pan Shujie as Director

For

Against

Concerns about overall board structure

3C Elect Raymond Ho Chung Tai as Director

For

For

ELECT 2 SUPERVISORS VIA CUMULATIVE VOTING

China Southern Airlines Co., Ltd.

China State Construction International Holdings Limited

30/06/2017 China

01/06/2017 Cayman Islands

Annual

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

3D Elect Adrian David Li Man Kiu as Director

72

For

Against

4 Authorize Board to Fix Remuneration of Directors

For

For

5 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

6A Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6B Authorize Repurchase of Issued Share Capital

For

For

6C Authorize Reissuance of Repurchased Shares

For

Against

Concerns about overall board structure

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name China Steel Corporation

China Vanke Co., Ltd.

Meeting Date Country 21/06/2017 Taiwan

30/06/2017 China

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Release of Restrictions of Competitive Activities of Chairman Chao Tung Wong

For

For

5 Approve Release of Restrictions of Competitive Activities of Director For Jih Gang Liu

For

AGM BALLOT FOR HOLDERS OF H SHARES 1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Annual Report

For

For

4 Approve 2016 Dividend Distribution Plan

For

For

5 Approve KPMG as Auditors

For

For

ELECT 3 EXECUTIVE DIRECTORS AND 4 NON-EXECUTIVE DIRECTORS VIA CUMULATIVE VOTING 6.1 Elect Yu Liang as Director

For

For

6.2 Elect Lin Maode as Director

For

For

6.3 Elect Xiao Min as Director

For

For

6.4 Elect Chen Xianjun as Director

For

For

6.5 Elect Sun Shengdian as Director

For

For

6.6 Elect Wang Wenjin as Director

For

For

6.7 Elect Zhang Xu as Director

For

For

ELECT 4 INDEPENDENT NON-EXECUTIVE DIRECTORS VIA CUMULATIVE VOTING 7.1 Elect Kang Dian as Director

For

For

7.2 Elect Liu Shuwei as Director

For

For

7.3 Elect Ng Kar Ling, Johnny as Director

For

For

7.4 Elect Li Qiang as Director

For

For

8.1 Elect Xie Dong as Supervisor

For

For

8.2 Elect Zheng Ying as Supervisor

For

For

For

For

ELECT 2 SUPERVISORS VIA CUMULATIVE VOTING

Chubu Electric Power Co. Inc.

73

28/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 15 2.1 Elect Director Mizuno, Akihisa

For

For

2.2 Elect Director Katsuno, Satoru

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.3 Elect Director Masuda, Yoshinori

Chugoku Bank Ltd.

23/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

2.4 Elect Director Matsura, Masanori

For

For

2.5 Elect Director Kataoka, Akinori

For

For

2.6 Elect Director Kurata, Chiyoji

For

For

2.7 Elect Director Ban, Kozo

For

For

2.8 Elect Director Shimizu, Shigenobu

For

For

2.9 Elect Director Masuda, Hiromu

For

For

2.10 Elect Director Misawa, Taisuke

For

For

2.11 Elect Director Nemoto, Naoko

For

For

2.12 Elect Director Hashimoto, Takayuki

For

For

3 Approve Annual Bonus

For

For

4 Amend Articles to Add Provisions on Declaration of Withdrawal from Nuclear Power Generation

Against

Against

5 Amend Articles to Add Provisions on Safety Enhancement Policy for Against Earthquake and Tsunami at Hamaoka Nuclear Power Station

Against

6 Amend Articles to Add Provisions on Rationalization of Power Generation Department

Against

Against

7 Amend Articles to Establish Committee on Spent Nuclear Fuel Safety Storage

Against

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 10 2.1 Elect Director Miyanaga, Masato

74

Mgmt Rec

For

For

For

For

2.2 Elect Director Aoyama, Hajime

For

For

2.3 Elect Director Asama, Yoshimasa

For

For

2.4 Elect Director Fukuda, Masahiko

For

For

2.5 Elect Director Kato, Sadanori

For

For

2.6 Elect Director Shiwaku, Kazushi

For

For

2.7 Elect Director Terasaka, Koji

For

For

2.8 Elect Director Harada, Ikuhide

For

For

2.9 Elect Director Taniguchi, Shinichi

For

For

2.10 Elect Director Sato, Yoshio

For

For

2.11 Elect Director Kodera, Akira

For

For

3.1 Elect Director and Audit Committee Member Ando, Hiromichi

For

For

3.2 Elect Director and Audit Committee Member Tanaka, Kazuhiro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Chugoku Electric Power Co. Inc.

Chunghwa Telecom Co., Ltd.

Meeting Date Country 28/06/2017 Japan

23/06/2017 Taiwan

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2.1 Elect Director Karita, Tomohide

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Shimizu, Mareshige

For

Against

Holding executives accountable for ongoing poor returns

1 Approve Allocation of Income, with a Final Dividend of JPY 25

2.3 Elect Director Sakotani, Akira

For

For

2.4 Elect Director Watanabe, Nobuo

For

For

2.5 Elect Director Ogawa, Moriyoshi

For

For

2.6 Elect Director Matsumura, Hideo

For

For

2.7 Elect Director Hirano, Masaki

For

For

2.8 Elect Director Matsuoka, Hideo

For

For

2.9 Elect Director Iwasaki, Akimasa

For

For

2.10 Elect Director Ashitani, Shigeru

For

For

2.11 Elect Director Shigeto, Takafumi

For

For

3 Amend Articles to Separate Ownership of Power Generation and Transmission Businesses

Against

Against

4 Amend Articles to Add Provisions on Process for Resumption of Nuclear Power Generation

Against

Against

5 Amend Articles to Add Provisions on Cost Burden Sharing for Nuclear Accident Prevention

Against

Against

6 Amend Articles to Ban Nuclear Power Generation

Against

Against

7 Amend Articles to Ban Reprocessing of Spent Nuclear Fuels

Against

Against

8 Amend Articles to Ban Construction of Coal-Fired Thermal Power Generation

Against

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

For

For

5 Approve Release of Restrictions of Competitive Activities of Appointed Directors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Elect Chang Zhenming as Director

For

For

ELECT INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING 4.1 Elect Yu Fen Lin with ID No. U220415XXX as Independent Director

CITIC Limited

75

13/06/2017 Hong Kong

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Elect Liu Yeqiao as Director

For

For

5 Elect Liu Zhongyuan as Director

For

For

6 Elect Xu Jinwu as Director

For

For

7 Elect Lee Boo Jin as Director

For

For

8 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

9 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

For

For

1 Approve 2016 Work Report of the Board

For

For

2 Approve 2016 Work Report of the Supervisory Committee

For

For

3 Approve 2016 Annual Report

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve PricewaterhouseCoopers Zhong Tian LLP For and PricewaterhouseCoopers as External Auditors, PricewaterhouseCoopers Zhong Tian LLP as Internal Control Auditor and Fix Their Remuneration

For

6 Approve 2017 Estimated Investment Amount for Proprietary Business

For

For

8 Approve Potential Related Party Transactions Involved in the Issuances of the Onshore and Offshore Corporate Debt Financing Instruments

For

Against

9 Approve Increase of Authorized Amount for the Business of Securitization Backed by Credit Asset Relating to Margin Finance Business

For

For

For

For

13.01 Approve Potential Related Party Transactions Between the Company and Its Subsidiaries and the CITIC Group and its Subsidiaries and Associates

For

For

13.02 Approve Potential Related Party Transactions Between the Company and Its Subsidiaries and Companies in which Directors, Supervisors and Senior Management of the Company Hold Positions as Directors or Senior Management

For

For

10 Authorize Repurchase of Issued Share Capital CITIC Securities Co., Ltd.

19/06/2017 China

Annual

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES

12 Approve Remuneration of Directors and Supervisors

Concerns to protect shareholder interests

RESOLUTIONS RELATING TO THE ESTIMATION OF RELATED PARTY CONNECTED TRANSACTIONS

76

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.01 Approve Issuing Entity, Size of Issuance and Method of Issuance in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.02 Approve Type of the Debt Financing Instruments in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.03 Approve Term of the Debt Financing Instruments in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.04 Approve Interest Rate of the Debt Financing Instruments in Relation For to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

Against

Concerns to protect shareholder interests

7.05 Approve Security and Other Arrangements in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.06 Approve Use of Proceeds in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.07 Approve Issuing Price in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.08 Approve Targets of Issue and the Placement Arrangements of the For RMB Debt Financing Instruments to the Shareholders in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

Against

Concerns to protect shareholder interests

7.09 Approve Listing of the Debt Financing Instruments in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.10 Approve Resolutions Validity Period in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

7.11 Approve Authorization for the Issuances of the Onshore and Offshore Corporate Debt Financing Instruments in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

11 Amend Articles of Association

For

For

1a Elect Director Robert M. Calderoni

For

For

RESOLUTIONS RELATING TO THE ISSUANCES OF ONSHORE AND OFFSHORE CORPORATE DEBT FINANCING ISTRUMENTS

Citrix Systems, Inc.

77

22/06/2017 USA

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

City Merchants High Yield Trust Ltd

Coca-Cola European Partners Plc

78

Meeting Date Country

15/06/2017 Jersey

22/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1b Elect Director Nanci E. Caldwell

For

For

1c Elect Director Jesse A. Cohn

For

For

1d Elect Director Robert D. Daleo

For

For

1e Elect Director Murray J. Demo

For

For

1f Elect Director Peter J. Sacripanti

For

For

1g Elect Director Graham V. Smith

For

For

1h Elect Director Godfrey R. Sullivan

For

For

1i Elect Director Kirill Tatarinov

For

For

2 Amend Omnibus Stock Plan

For

Against

3 Ratify Ernst & Young LLP as Auditors

For

For

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Dividend Payment Policy

For

For

4 Ratify PricewaterhouseCoopers CI LLP as Auditors and Authorise Their Remuneration

For

For

5 Re-elect Clive Nicholson as Director

For

For

6 Approve Continuation of Company as Investment Trust

For

For

7 Authorise Issue of Equity without Pre-emptive Rights

For

For

8 Approve Market Purchase of Ordinary Shares

For

For

9 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Elect Jose Ignacio Comenge Sanchez-Real as Director

For

For

5 Elect J. Alexander M. Douglas, Jr. as Director

For

For

6 Elect Francisco Ruiz de la Torre Esporrin as Director

For

For

7 Elect Irial Finan as Director

For

For

8 Elect Damian Gammell as Director

For

For

9 Elect Alfonso Libano Daurella as Director

For

For

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Coca-Cola HBC AG

Meeting Date Country

20/06/2017 Switzerland

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Elect Mario Rotllant Sola as Director

For

For

11 Reappoint Ernst & Young LLP as Auditors

For

For

12 Authorise Audit Committee to Fix Remuneration of Auditors

For

For

13 Authorise Political Donations and Expenditure

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Approve Waiver on Tender-Bid Requirement

For

Against

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

For

Do Not Vote

2.1 Approve Allocation of Income

For

Do Not Vote

2.2 Approve Dividend from Reserves

For

Do Not Vote

For

Do Not Vote

4.1.1 Re-elect Anastassis David as Director and as Board Chairman

For

Do Not Vote

4.1.2 Re-elect Dimitris Lois as Director

For

Do Not Vote

4.1.3 Re-elect Alexandra Papalexopoulou as Director and as Member of the Remuneration Committee

For

Do Not Vote

4.1.4 Re-elect Reto Francioni as Director and as Member of the Remuneration Committee

For

Do Not Vote

4.1.5 Re-elect Ahmet Bozer as Director

For

Do Not Vote

4.1.6 Re-elect Olusola David-Borha as Director

For

Do Not Vote

4.1.7 Re-elect William Douglas III as Director

For

Do Not Vote

4.1.8 Re-elect Anastasios Leventis as Director

For

Do Not Vote

4.1.9 Re-elect Christodoulos Leventis as Director

For

Do Not Vote

1 Accept Financial Statements and Statutory Reports

3 Approve Discharge of Board and Senior Management

79

Mandatory offer rule provides crucial shareholder protection

To prevent shareblocking

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

For

Do Not Vote

4.1B Re-elect Robert Rudolph as Director

For

Do Not Vote

4.1C Re-elect John Sechi as Director

For

Do Not Vote

For

Do Not Vote

For

Do Not Vote

6.1 Reappoint PricewaterhouseCoopers AG as Auditors

For

Do Not Vote

6.2 Advisory Vote on Reappointment of the Independent Registered Public Accounting Firm PricewaterhouseCoopers SA for UK Purposes

For

Do Not Vote

7 Approve UK Remuneration Report

For

Do Not Vote

8 Approve Remuneration Policy

For

Do Not Vote

9 Approve Swiss Remuneration Report

For

Do Not Vote

10.1 Approve Maximum Aggregate Amount of Remuneration for Directors

For

Do Not Vote

10.2 Approve Maximum Aggregate Amount of Remuneration for the Operating Committee

For

Do Not Vote

11 Amend Articles Re: Remuneration of Chief Executive Officer and Non-Executive Members of the Board of Directors

For

Do Not Vote

1a Elect Director Zein Abdalla

For

For

1b Elect Director Betsy S. Atkins

For

For

1c Elect Director Maureen Breakiron-Evans

For

For

1d Elect Director Jonathan Chadwick

For

For

1e Elect Director John M. Dineen

For

For

5 Designate Ines Poeschel as Independent Proxy

80

06/06/2017 USA

Annual

Vote Instruction Voter Rationale

4.1A Re-elect Jose Octavio Reyes as Director

4.2 Elect Charlotte Boyle as Director and as Member of the Remuneration Committee

Cognizant Technology Solutions Corporation

Mgmt Rec

1f Elect Director Francisco D'Souza

For

For

1g Elect Director John N. Fox, Jr.

For

For

1h Elect Director John E. Klein

For

Against

1i Elect Director Leo S. Mackay, Jr.

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Comcast Corporation

Meeting Date Country

08/06/2017 USA

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1j Elect Director Michael Patsalos-Fox

For

For

1k Elect Director Robert E. Weissman

For

Against

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Approve Omnibus Stock Plan

For

For

5 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

6 Eliminate Supermajority Vote Requirement

For

For

7 Provide Right to Act by Written Consent

Against

Against

1.1 Elect Director Kenneth J. Bacon

For

For

1.2 Elect Director Madeline S. Bell

For

For

1.3 Elect Director Sheldon M. Bonovitz

For

Withhold

1.4 Elect Director Edward D. Breen

For

For

1.5 Elect Director Gerald L. Hassell

For

For

1.6 Elect Director Jeffrey A. Honickman

For

For

1.7 Elect Director Asuka Nakahara

For

For

1.8 Elect Director David C. Novak

For

For

1.9 Elect Director Brian L. Roberts 1.10 Elect Director Johnathan A. Rodgers

Compagnie de Saint Gobain

81

08/06/2017 France

Annual/ Special

For

For

For

For

Concerns about linkage between pay and performance Proposal enhances accountability

Concerns about overall board structure

2 Ratify Deloitte & Touche LLP as Auditors

For

Against

Concerns about auditor independence

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Report on Lobbying Payments and Policy

Against

For

Proposal enhances transparency

6 Approve Recapitalization Plan for all Stock to Have One-vote per Share

Against

For

Proposal enhances shareholder rights

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 1.26 per Share

For

For

4 Approve Auditors' Special Report on Related-Party Transactions

For

For

5 Reelect Pamela Knapp as Director

For

Against

Ordinary Business

Concerns about director accountability

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 6 Reelect Agnes Lemarchand as Director

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

Concerns about director accountability

7 Reelect Gilles Schnepp as Director

For

Against

Concerns about director accountability

8 Reelect Phlippe Varin as Director

For

Against

Concerns about director accountability

9 Non-Binding Vote on Compensation of Pierre-Andre de Chalendar, Chairman and CEO

For

For

10 Approve Remuneration Policy of Chairman and CEO

For

For

11 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

12 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 444 Million

For

For

13 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights with a Binding Priority Right up to Aggregate Nominal Amount of EUR 222 Million

For

For

14 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above

For

For

15 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

For

For

16 Authorize Capitalization of Reserves of Up to EUR 111 Million for Bonus Issue or Increase in Par Value

For

For

17 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

18 Authorize Capital Issuances for Use in Employee Stock Purchase Plans for Employees of International Subsidiaries

For

For

19 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

20 Amend Articles 10 and 11 of Bylaws Re: Lead Director

For

For

21 Authorize Filing of Required Documents/Other Formalities

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Release of Restrictions of Competitive Activities of Directors and Representatives

For

For

6 Other Business

None

Against

Extraordinary Business

Compal Electronics Inc.

82

22/06/2017 Taiwan

Annual

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

Companhia Paranaense de Energia - COPEL

07/06/2017 Brazil

Special

1 Amend Articles

For

For

Compass Group PLC

07/06/2017 United Kingdom

Special

1 Approve Shareholder Return by Way of Special Dividend with Share Consolidation

For

For

2 Authorise Issue of Equity with Pre-emptive Rights

For

For

3 Authorise Issue of Equity without Pre-emptive Rights

COMSYS Holdings Corp.

29/06/2017 Japan

Annual

For

For

4 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

5 Authorise Market Purchase of New Ordinary Shares

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 20

For

For

2 Amend Articles to Amend Business Lines - Adopt Board Structure with Audit Committee - Amend Provisions on Number of Directors - Authorize Directors to Execute Day to Day Operations without Full Board Approval

For

For

3.1 Elect Director Kagaya, Takashi

For

For

3.2 Elect Director Ito, Noriaki

For

For

3.3 Elect Director Ogawa, Akio

For

For

3.4 Elect Director Omura, Yoshihisa

For

For

3.5 Elect Director Sakamoto, Shigemi

For

For

3.6 Elect Director Aoyama, Akihiko

For

For

3.7 Elect Director Kumagai, Hitoshi

For

For

3.8 Elect Director Sato, Kenichi

For

For

3.9 Elect Director Ozaki, Hidehiko

For

For

3.10 Elect Director Suda, Norio 4.1 Elect Director and Audit Committee Member Nishiyama, Tsuyoshi

83

For

For

For

For

4.2 Elect Director and Audit Committee Member Kamiwaki, Koichiro

For

For

4.3 Elect Director and Audit Committee Member Narumiya, Kenichi

For

For

4.4 Elect Director and Audit Committee Member Miyashita, Masahiko

For

For

4.5 Elect Director and Audit Committee Member Saegusa, Takaharu

For

Against

4.6 Elect Director and Audit Committee Member Onohara, Kazuyoshi

For

For

5 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

6 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Concepcion Industrial Corporation

Meeting Date Country

07/06/2017 Philippines

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Deep Discount Stock Option Plan

For

For

8 Approve Stock Option Plan

For

For

3 Approve the Minutes of the Annual Meeting of the Stockholders Held on July 13, 2016

For

For

5 Approve the Report of the Chairman and the Audited Financial Statements

For

For

Elect 8 Directors by Cumulative Voting

Concordia Financial Group Ltd.

20/06/2017 Japan

Annual

6.1 Elect Raul Joseph A. Concepcion as Director

For

For

6.2 Elect Renna C. Hechanova-Angeles as Director

For

For

6.3 Elect Raul Anthony A. Concepcion as Director

For

For

6.4 Elect Jose Ma. A. Concepcion III as Director

For

For

6.5 Elect Ma. Victoria Herminia C. Young as Director

For

For

6.6 Elect Raissa C. Hechanova-Posadas as Director

For

For

6.7 Elect Cesar A. Buenaventura as Director

For

For

6.8 Elect Melito S. Salazar, Jr. as Director

For

For

7 Appoint External Auditor

For

For

8 Approve Stock Dividends to be Taken from the Unrestricted Retained Earnings of the Corporation

For

For

9 Ratify Actions Taken by the Board of Directors and Officers

For

For

1 Amend Articles to Clarify Director Authority on Board Meetings 2.1 Elect Director Terazawa, Tatsumaro

Credit Saison Co. Ltd.

20/06/2017 Japan

Annual

For For

2.2 Elect Director Ishii, Michito

For

For

2.3 Elect Director Oya, Yasuyoshi

For

For

2.4 Elect Director Kawamura, Kenichi

For

For

2.5 Elect Director Morio, Minoru

For

For

2.6 Elect Director Inoue, Ken

For

For

2.7 Elect Director Takagi, Yuzo

For

For

3 Approve Compensation Ceilings for Directors and Statutory Auditors

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For

For

2 Amend Articles to Amend Business Lines 3.1 Elect Director Maekawa, Teruyuki

84

For For

For

For

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.2 Elect Director Rinno, Hiroshi

For

For

3.3 Elect Director Takahashi, Naoki

For

For

3.4 Elect Director Yamamoto, Hiroshi

For

For

3.5 Elect Director Yamashita, Masahiro

For

For

3.6 Elect Director Shimizu, Sadamu

For

For

3.7 Elect Director Mizuno, Katsumi

For

For

3.8 Elect Director Hirase, Kazuhiro

For

For

3.9 Elect Director Matsuda, Akihiro

For

For

3.10 Elect Director Yamamoto, Yoshihisa

For

For

3.11 Elect Director Okamoto, Tatsunari

For

For

3.12 Elect Director Takeda, Masako

For

For

3.13 Elect Director Miura, Yoshiaki

For

For

3.14 Elect Director Baba, Shingo

For

For

3.15 Elect Director Hayashi, Kaoru

For

For

3.16 Elect Director Togashi, Naoki

For

For

3.17 Elect Director Otsuki, Nana

For

For

For

For

1 Approve 2016 Work Report of the Board

For

For

2 Approve 2016 Work Report of the Supervisory Committee

For

For

3 Approve 2016 Final Accounts Report

For

For

4 Appoint Alternate Statutory Auditor Inada, Kazufusa CRRC Corp Ltd.

85

20/06/2017 China

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

4 Approve 2017 Arrangement of Guarantees

For

Against

5 Approve 2016 Profit Distribution Plan

For

For

Concerns to protect shareholder interests

6 Approve Remuneration of Directors and Supervisors

For

For

7 Approve Deloitte Touche Tohmatsu as External Auditor, Deloitte Touche Tohmatsu CPA LLP and KPMG Huazhen as PRC and Internal Control Auditors, Deloitte Touche Tohmatsu CPA LLP as Principal Auditor and Authorize Board to Fix Their Remuneration

For

For

8 Approve Remuneration of Some of the External Directors

For

For

9 Approve Provision of Guarantee for the Phase 1 PPP Project of Rail Transit Routes 1 and 2 in Wuhu

For

For

10 Approve Issuance of Debt Financing Instruments

For

Against

Concerns to protect shareholder interests

11 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

CSR Limited

CSX Corporation

Meeting Date Country

23/06/2017 Australia

05/06/2017 USA

Meeting Type

Annual

Proxy Contest

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

12.1 Elect Sun Yongcai as Director

For

For

12.2 Elect Xu Zongxiang as Director

For

For

13 Amend Articles of Association to Reflect Increase in Registered Capital

For

For

2a Elect Christine Holman as Director

For

For

2b Elect Mike Ihlein as Director

For

For

3 Approve the Remuneration Report

For

For

4 Approve the Grant of Performance Rights to Rob Sindel, Managing Director of the Company

For

For

Management Proxy (White Proxy Card) 1a Elect Director Donna M. Alvarado

For

For

1b Elect Director John B. Breaux

For

For

1c Elect Director Pamela L. Carter

For

For

1d Elect Director Steven T. Halverson

For

For

1e Elect Director E. Hunter Harrison

For

For

1f Elect Director Paul C. Hilal

For

Against

1g Elect Director Edward J. Kelly, III

For

For

1h Elect Director John D. McPherson

For

For

1i Elect Director David M. Moffett

For

For

1j Elect Director Dennis H. Reilley

For

Against

1k Elect Director Linda H. Riefler

For

For

1l Elect Director J. Steven Whisler

For

For

1m Elect Director John J. Zillmer

CTBC Financial Holding Co., Ltd.

86

16/06/2017 Taiwan

Annual

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Advisory Vote on Reimbursement Arrangement in Connection with Retention of E. Hunter Harrison as CEO

None

Against

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Other Business

None

Against

Concerns about overall board structure

Concerns about candidate

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

Substance of resolution unclear at time of voting aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name CTCI Corp.

Meeting Date Country 28/06/2017 Taiwan

Meeting Type Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Business Operations Report, Financial Statements and Consolidated Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures for Endorsement and Guarantees

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5.1 Elect John T. Yu, Representative of CTCI Development Corp with Shareholder No. 45509, as Non-independent Director

For

For

5.2 Elect Michael Yang, Representative of CTCI Development Corp with Shareholder No. 45509, as Non-independent Director

For

For

5.3 Elect Quintin Wu with ID No. A103105XXX as Non-independent Director

For

For

5.4 Elect Bing Shen with ID No. A110904XXX as Non-independent Director

For

For

5.5 Elect Johnny Shih with ID No. A126461XXX as Non-independent Director

For

For

5.6 Elect Yancey Hai with ID No. D100708XXX as Non-independent Director

For

For

5.7 Elect An Ping Chang with ID No. A102716XXX as Non-independent For Director

For

5.8 Elect Wenent Pan with ID No. J100291XXX as Non-independent Director

For

For

5.9 Elect Teng Yaw Yu, Representative of CTCI Foundation with Shareholder No. 4, as Non-independent Direcetor

For

For

For

For

5.11 Elect Jack Huang with ID No. A100320XXX as Independent Director For

For

5.12 Elect Frank Fan with ID No. H102124XXX as Independent Director

For

For

6 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

For

1.1 Elect Director Sankai, Yoshiyuki

For

Against

1.2 Elect Director Ichihashi, Fumiyuki

For

For

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

5.10 Elect Yen Shiang Shih with ID No. B100487XXX as Independent Director

CYBERDYNE Inc.

87

23/06/2017 Japan

Annual

1.3 Elect Director Uga, Shinji

For

For

1.4 Elect Director Kawamoto, Hiroaki

For

For

1.5 Elect Director Nakata, Kinichi

For

For

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.6 Elect Director Yoshida, Kazumasa

Dai Nippon Printing Co. Ltd.

29/06/2017 Japan

Annual

88

28/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

1.7 Elect Director Imai, Hikari

For

For

2.1 Appoint Statutory Auditor Fujitani, Yutaka

For

Against

2.2 Appoint Statutory Auditor Cees Vellekoop

For

For

2.3 Appoint Statutory Auditor Okamura, Kenichiro

For

For

3 Approve Stock Option Plan

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 16

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Kitajima, Yoshitoshi

Daibiru Corp.

Mgmt Rec

For

Against

3.2 Elect Director Takanami, Koichi

For

For

3.3 Elect Director Yamada, Masayoshi

For

For

3.4 Elect Director Kitajima, Yoshinari

For

For

3.5 Elect Director Wada, Masahiko

For

For

3.6 Elect Director Morino, Tetsuji

For

For

3.7 Elect Director Kanda, Tokuji

For

For

3.8 Elect Director Kitajima, Motoharu

For

For

3.9 Elect Director Saito, Takashi

For

For

3.10 Elect Director Inoue, Satoru

For

For

3.11 Elect Director Tsukada, Tadao

For

For

3.12 Elect Director Miyajima, Tsukasa

Concerns about independence

Concerns about linkage between pay and performance

Holding executives accountable for ongoing poor returns

For

For

4 Appoint Statutory Auditor Nomura, Kuniaki

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 8

For

For

2.1 Elect Director Yamamoto, Takehiko

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Tamai, Katsumi

For

Against

Holding executives accountable for ongoing poor returns

2.3 Elect Director Sonobe, Toshiyuki

For

For

2.4 Elect Director Narita, Junichi

For

For

2.5 Elect Director Yada, Takeo

For

For

2.6 Elect Director Takamatsu, Akira

For

For

2.7 Elect Director Hashizume, Shinya

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Daicel Corp.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Appoint Statutory Auditor Totsuka, Masaji

For

For

4 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 17

For

For

2 Amend Articles to Amend Business Lines - Clarify Director Authority For on Shareholder Meetings

For

3.1 Elect Director Fudaba, Misao

26/06/2017 Japan

Annual

3.2 Elect Director Fukuda, Masumi

For

For

For

For

3.4 Elect Director Nishimura, Hisao

For

For

3.5 Elect Director Okada, Akishige

For

For

3.6 Elect Director Kondo, Tadao

For

For

3.7 Elect Director Shimozaki, Chiyoko

For

For

3.8 Elect Director Nogimori, Masafumi

For

For

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 43 2.1 Elect Director Watanabe, Koichiro

Daiichi Sankyo Co. Ltd.

89

19/06/2017 Japan

Annual

For

3.3 Elect Director Ogawa, Yoshimi

4 Approve Takeover Defense Plan (Poison Pill) Dai-Ichi Life Holdings Inc.

For

For

For

For

For

2.2 Elect Director Tsuyuki, Shigeo

For

For

2.3 Elect Director Inagaki, Seiji

For

For

2.4 Elect Director Tsutsumi, Satoru

For

For

2.5 Elect Director Ishii, Kazuma

For

For

2.6 Elect Director Taketomi, Masao

For

For

2.7 Elect Director Teramoto, Hideo

For

For

2.8 Elect Director Kawashima, Takashi

For

For

2.9 Elect Director George Olcott

For

For

2.10 Elect Director Maeda, Koichi

For

For

3 Appoint KPMG AZSA LLC as New External Audit Firm

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For

For

2 Amend Articles to Amend Provisions on Number of Statutory Auditors

For

For

3.1 Elect Director Nakayama, Joji

For

For

3.2 Elect Director Manabe, Sunao

For

For

3.3 Elect Director Hirokawa, Kazunori

For

For

3.4 Elect Director Sai, Toshiaki

For

For

Anti-takeover devices insulate management from appropriate accountability

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Daikin Industries Ltd.

Daito Trust Construction Co. Ltd.

Meeting Date Country

29/06/2017 Japan

28/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.5 Elect Director Fujimoto, Katsumi

For

For

3.6 Elect Director Tojo, Toshiaki

For

For

3.7 Elect Director Uji, Noritaka

For

For

3.8 Elect Director Toda, Hiroshi

For

For

3.9 Elect Director Adachi, Naoki

For

For

3.10 Elect Director Fukui, Tsuguya

For

For

4 Appoint Statutory Auditor Izumoto, Sayoko

For

For

5 Approve Annual Bonus

For

For

6 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 70

For

For

2.1 Appoint Statutory Auditor Yano, Ryu

For

For

2.2 Appoint Statutory Auditor Fukunaga, Kenji

For

For

3 Appoint Alternate Statutory Auditor Ono, Ichiro

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 298

For

For

2.1 Elect Director Kumakiri, Naomi

For

For

2.2 Elect Director Kobayashi, Katsuma

For

For

2.3 Elect Director Kawai, Shuji

For

For

2.4 Elect Director Uchida, Kanitsu

For

For

2.5 Elect Director Takeuchi, Kei

For

For

2.6 Elect Director Saito, Kazuhiko

For

For

2.7 Elect Director Nakagawa, Takeshi

For

For

2.8 Elect Director Sato, Koji

For

For

2.9 Elect Director Yamaguchi, Toshiaki 2.10 Elect Director Sasaki, Mami 2.11 Elect Director Shoda, Takashi 3.1 Appoint Statutory Auditor Uno, Masayasu

Daiwa House Industry Co. Ltd.

90

29/06/2017 Japan

Annual

For

For

For

For

For

For

For

For

3.2 Appoint Statutory Auditor Hachiya, Hideo

For

For

3.3 Appoint Statutory Auditor Fujimaki, Kazuo

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 52 2.1 Elect Director Higuchi, Takeo

For

For

2.2 Elect Director Ono, Naotake

For

For

2.3 Elect Director Ishibashi, Tamio

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.4 Elect Director Kawai, Katsutomo

91

For

For

For

For

For

2.7 Elect Director Tsuchida, Kazuto

For

For

2.8 Elect Director Hori, Fukujiro

For

For

2.9 Elect Director Yoshii, Keiichi

For

For

2.10 Elect Director Hama, Takashi

For

For

2.11 Elect Director Yamamoto, Makoto

For

For

2.12 Elect Director Tanabe, Yoshiaki

For

For

2.13 Elect Director Otomo, Hirotsugu

For

For

2.14 Elect Director Urakawa, Tatsuya

For

For

2.15 Elect Director Dekura, Kazuhito

For

For

2.16 Elect Director Ariyoshi, Yoshinori

For

For

2.17 Elect Director Kimura, Kazuyoshi

For

For

2.18 Elect Director Shigemori, Yutaka

For

For

For

For

For

For

3.2 Appoint Statutory Auditor Iida, Kazuhiro

For

For

3.3 Appoint Statutory Auditor Nishimura, Tatsushi

For

For

For

For

For

For

4 Approve Annual Bonus Annual

For

2.5 Elect Director Kosokabe, Takeshi

3.1 Appoint Statutory Auditor Hirata, Kenji

28/06/2017 Japan

Vote Instruction Voter Rationale

2.6 Elect Director Fujitani, Osamu

2.19 Elect Director Yabu, Yukiko

Daiwa Securities Group Inc.

Mgmt Rec

1.1 Elect Director Hibino, Takashi 1.2 Elect Director Nakata, Seiji

For

For

1.3 Elect Director Nishio, Shinya

For

For

1.4 Elect Director Takahashi, Kazuo

For

For

1.5 Elect Director Matsui, Toshihiro

For

For

1.6 Elect Director Tashiro, Keiko

For

For

1.7 Elect Director Komatsu, Mikita

For

For

1.8 Elect Director Matsuda, Morimasa

For

For

1.9 Elect Director Matsubara, Nobuko

For

For

1.10 Elect Director Tadaki, Keiichi

For

For

1.11 Elect Director Onodera, Tadashi

For

For

1.12 Elect Director Ogasawara, Michiaki

For

Against

1.13 Elect Director Takeuchi, Hirotaka

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.14 Elect Director Nishikawa, Ikuo 2 Approve Deep Discount Stock Option Plan and Stock Option Plan

DaVita Inc.

Delta Air Lines, Inc.

Delta Electronics Inc.

92

16/06/2017 USA

30/06/2017 USA

13/06/2017 Taiwan

Annual

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

1a Elect Director Pamela M. Arway

For

For

1b Elect Director Charles G. Berg

For

For

1c Elect Director Carol Anthony ("John") Davidson

For

For

1d Elect Director Barbara J. Desoer

For

For

1e Elect Director Pascal Desroches

For

For

1f Elect Director Paul J. Diaz

For

For

1g Elect Director Peter T. Grauer

For

Against

Concerns about overall board structure

1h Elect Director John M. Nehra

For

Against

Concerns about overall board structure

1i Elect Director William L. Roper

For

Against

Concerns about overall board structure

1j Elect Director Kent J. Thiry

For

For

1k Elect Director Phyllis R. Yale

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1a Elect Director Edward H. Bastian

For

For

1b Elect Director Francis S. Blake

For

For

1c Elect Director Daniel A. Carp

For

For

1d Elect Director David G. DeWalt

For

For

1e Elect Director William H. Easter, III

For

For

1f Elect Director Mickey P. Foret

For

For

1g Elect Director Jeanne P. Jackson

For

For

1h Elect Director George N. Mattson

For

For

1i Elect Director Douglas R. Ralph

For

For

1j Elect Director Sergio A.L. Rial

For

For

1k Elect Director Kathy N. Waller

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve Financial Statements

For

For

Concerns about linkage between pay and performance

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

DeNA Co Ltd

Denso Corp.

Meeting Date Country

24/06/2017 Japan

20/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

For

5 Other Business

None

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 32

For

For

2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Reduce Directors' Term - Clarify Director Authority on Board Meetings

For

For

3.1 Elect Director Namba, Tomoko

For

For

3.2 Elect Director Moriyasu, Isao

For

For

3.3 Elect Director Kawasaki, Shuhei

For

For

3.4 Elect Director Otsuka, Hiroyuki

For

For

3.5 Elect Director Domae, Nobuo

For

For

4 Appoint Statutory Auditor Koizumi, Shinichi

For

For

5 Approve Compensation Ceiling for Directors

For

For

1.1 Elect Director Kato, Nobuaki

For

For

1.2 Elect Director Kobayashi, Koji

For

For

1.3 Elect Director Arima, Koji

For

For

1.4 Elect Director Maruyama, Haruya

For

For

1.5 Elect Director Yamanaka, Yasushi

For

For

1.6 Elect Director Wakabayashi, Hiroyuki

For

For

1.7 Elect Director Makino, Yoshikazu

For

For

1.8 Elect Director George Olcott

For

For

1.9 Elect Director Nawa, Takashi

For

For

2.1 Appoint Statutory Auditor Iwase, Masato

For

For

2.2 Appoint Statutory Auditor Matsushima, Noriyuki

For

For

For

For

3 Approve Annual Bonus Descente Ltd.

22/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 23 2.1 Elect Director Nakamura, Ichiro

93

For

For

For

For

2.2 Elect Director Ishimoto, Masatoshi

For

For

2.3 Elect Director Tanaka, Yoshikazu

For

For

2.4 Elect Director Mitsui, Hisashi

For

For

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Deutsche Euroshop AG

Meeting Date Country

28/06/2017 Germany

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.5 Elect Director Haneda, Hitoshi

For

For

2.6 Elect Director Tsujimoto, Kenichi

For

For

2.7 Elect Director Kim, Fundo

For

For

2.8 Elect Director Shimizu, Motonari

For

For

2.9 Elect Director Ii, Masako

For

For

2.10 Elect Director Shu, Ungyon

For

For

3 Appoint Statutory Auditor Morimitsu, Masatsugu

For

For

4 Approve Equity Compensation Plan

For

For

2 Approve Allocation of Income and Dividends of EUR 1.40 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

5 Ratify BDO AG as Auditors for Fiscal 2017 6.1 Elect Reiner Strecker to the Supervisory Board

Deutsche Wohnen AG

94

02/06/2017 Germany

Annual

For

For

For

For

6.2 Elect Karin Dohm to the Supervisory Board

For

For

6.3 Elect Klaus Striebich to the Supervisory Board

For

For

7 Approve Creation of EUR 11.7 Million Pool of Capital with Partial Exclusion of Preemptive Rights

For

For

8 Amend Articles Re: Supervisory Board-Related

For

For

2 Approve Allocation of Income and Dividends of EUR 0.74 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

5 Ratify KPMG AG as Auditors for Fiscal 2017

For

For

6 Elect Juergen Fenk to the Supervisory Board

For

For

7 Approve Remuneration of Supervisory Board

For

For

8 Approve Creation of EUR 110 Million Pool of Capital with Partial Exclusion of Preemptive Rights

For

Against

Concerns to protect shareholder interests

9 Approve Issuance of Warrants/Bonds with Warrants Attached/ Convertible Bonds without Preemptive Rights up to Aggregate Nominal Amount of EUR 3 Billion; Approve Creation of EUR 70 Million Pool of Capital to Guarantee Conversion Rights

For

Against

Concerns to protect shareholder interests

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Devon Energy Corporation

Meeting Date Country

07/06/2017 USA

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Change of Corporate Form to Societas Europaea (SE)

For

For For

11 Change Location of Registered Office to Berlin, Germany

For

1.1 Elect Director Barbara M. Baumann

For

For

1.2 Elect Director John E. Bethancourt

For

For

1.3 Elect Director David A. Hager

For

For

1.4 Elect Director Robert H. Henry

For

For

1.5 Elect Director Michael M. Kanovsky

For

Withhold

1.6 Elect Director Robert A. Mosbacher, Jr.

For

For

1.7 Elect Director Duane C. Radtke

For

For

1.8 Elect Director Mary P. Ricciardello

For

For

1.9 Elect Director John Richels

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify KPMG LLP as Auditors

For

For

5 Amend Executive Incentive Bonus Plan

For

For

6 Approve Omnibus Stock Plan

For

Against

95

08/06/2017 United Kingdom

Annual

Concerns about linkage between pay and performance

Concerns about linkage between pay and performance

7 Review Public Policy Advocacy on Climate Change

Against

For

Proposal encourages enhanced transparency

8 Annually Assess Portfolio Impacts of Policies to Meet 2 Degree Scenario

Against

For

Proposal encourages enhanced environmental approach

9 Report on Lobbying Payments and Policy

Against

For

Proposal encourages enhanced transparency

10 Report on Using Oil and Gas Reserve Metrics for Named Executive's Against Compensation Dignity plc

Concerns about overall board structure

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Peter Hindley as Director

For

For

4 Re-elect Mike McCollum as Director

For

For

5 Re-elect Andrew Davies as Director

For

For

6 Re-elect Richard Portman as Director

For

For

7 Re-elect Steve Whittern as Director

For

For

8 Re-elect Alan McWalter as Director

For

For

9 Re-elect Jane Ashcroft as Director

For

For

10 Re-elect David Blackwood as Director

For

For

11 Elect Mary NcNamara as Director

For

For

12 Reappoint Ernst & Young LLP as Auditors

For

For aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Dollar Tree, Inc.

Meeting Date Country

15/06/2017 USA

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

13 Authorise Board to Fix Remuneration of Auditors

For

For

14 Approve Final Dividend

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Authorise EU Political Donations and Expenditure

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

19 Authorise Market Purchase of Ordinary Shares

For

For

20 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Arnold S. Barron

For

For

1.2 Elect Director Gregory M. Bridgeford

For

For

1.3 Elect Director Macon F. Brock, Jr.

For

For

1.4 Elect Director Mary Anne Citrino

For

For

1.5 Elect Director H. Ray Compton

For

Against

1.6 Elect Director Conrad M. Hall

For

For

1.7 Elect Director Lemuel E. Lewis

For

For

1.8 Elect Director Bob Sasser

For

For

1.9 Elect Director Thomas A. Saunders, III

Dongfeng Motor Group Company Ltd

96

16/06/2017 China

Annual

For

Against

1.10 Elect Director Thomas E. Whiddon

For

For

1.11 Elect Director Carl P. Zeithaml

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify KPMG LLP as Auditors

For

For

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Supervisory Committee

For

For

3 Approve International Auditors' Report and Audited Financial Statements

For

For

4 Approve Profit Distribution Plan and Authorize Board to Handle All For Matters in Relation to the Company's Distribution of Final Dividend

For

5 Authorize Board to Handle All Matters in Relation to the Company's For Distribution of Interim Dividend

For

Concerns about overall board structure

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Douglas Emmett, Inc.

DuPont Fabros Technology, Inc.

97

Meeting Date Country

01/06/2017 USA

12/06/2017 USA

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve PricewaterhouseCoopers as International Auditors and PricewaterhouseCoopers Zhong Tian LLP as Domestic Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Authorize Board to Fix Remuneration of Directors and Supervisors

For

For

8 Approve Adjustment of the Cap of Continuing Connected Transaction

For

Against

9 Approve Removal of Ma Liangjie as Supervisor

For

For

10 Elect Wen Shuzhong as Supervisor

For

For

11 Approve Resignation of Tong Dongcheng as Director

For

For

12 Approve Resignation of Ouyang Jie as Director

For

For

13 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

1.1 Elect Director Dan A. Emmett

For

For

1.2 Elect Director Jordan L. Kaplan

For

For

1.3 Elect Director Kenneth M. Panzer

For

For

1.4 Elect Director Christopher H. Anderson

For

For

1.5 Elect Director Leslie E. Bider

For

Withhold

1.6 Elect Director David T. Feinberg

For

For

1.7 Elect Director Virginia A. McFerran

For

For

1.8 Elect Director Thomas E. O'Hern

For

For

1.9 Elect Director William E. Simon, Jr.

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

None

One Year

1.1 Elect Director Michael A. Coke

For

For

1.2 Elect Director Lammot J. du Pont

For

For

1.3 Elect Director Thomas D. Eckert

For

For

1.4 Elect Director Christopher P. Eldredge

For

For

1.5 Elect Director Frederic V. Malek

For

For

1.6 Elect Director John T. Roberts, Jr.

For

For

1.7 Elect Director Mary M. Styer

For

For

1.8 Elect Director John H. Toole

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns about candidate

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

E.SUN Financial Holding Co., Ltd.

Meeting Date Country

16/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Provide Shareholders and the Board with the Concurrent Power to Amend the Bylaws

For

For

3 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

6 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Approve Issuance of New Shares by Capitalization of Profit and Employee Remuneration

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

ELECT INDEPENDENT DIRECTORS AND NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

98

6.1 Elect Cheng En Ko with ID No. 66168 as Independent Director

For

For

6.2 Elect Ji Ren Lee with ID No. 66178 as Independent Director

For

For

6.3 Elect Chen Chen Chang Lin with ID No. 66188 as Independent Director

For

For

6.4 Elect Hsin I Lin with ID No. 66198 as Independent Director

For

For

6.5 Elect Chun Yao Huang with ID No. 66556 as Independent Director

For

For

6.6 Elect Yung Jen Huang, a Representative of E.SUN Volunteer and Social Welfare Foundation with Shareholder No. 65813 as Nonindependent Director

For

For

6.7 Elect Joseph N.C. Huang, a Representative of E.SUN Volunteer and Social Welfare Foundation with Shareholder No. 65813 as Non-independent Director

For

For

6.8 Elect Gary K.L. Tseng, a Representative of E.SUN Foundation with Shareholder No. 1 as Non-independent Director

For

For

6.9 Elect Jackson Mai, a Representative of Hsin Tung Yang Co., Ltd. with Shareholder No. 8 as Non-independent Director

For

For

6.10 Elect Ron Chu Chen, a Representative of Fu Yuan Investment Co. Ltd. with Shareholder No. 123662 as Non-independent Director

For

For

6.11 Elect Chien Li Wu, a Representative of Shang Li Car Co., Ltd. with Shareholder No. 16557 as Non-independent Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

East Japan Railway Co.

Eisai Co. Ltd.

Meeting Date Country

23/06/2017 Japan

21/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6.12 Elect Magi Chen, a Representative of Shan Meng Investment Co. Ltd. with Shareholder No. 32013 as Non-independent Director

For

For

6.13 Elect Mao Chin Chen, a Representative of Sunlit Transportation Co., Ltd. with Shareholder No. 18322 as Non-independent Director

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 65 2.1 Elect Director Ota, Tomomichi

For

For

2.2 Elect Director Arai, Kenichiro

For

For

2.3 Elect Director Matsuki, Shigeru

For

For

3 Appoint Statutory Auditor Mori, Kimitaka

For

For

Concerns about independence

3 Appoint Statutory Auditor Mori, Kimitaka

For

For

Concerns about independence

1.1 Elect Director Naito, Haruo

For

Against

Holding executives accountable for ongoing poor returns

1.2 Elect Director Yamashita, Toru

For

For

1.3 Elect Director Nishikawa, Ikuo

For

For

1.4 Elect Director Naoe, Noboru

For

For

1.5 Elect Director Suhara, Eiichiro

For

For

1.6 Elect Director Kato, Yasuhiko

For

For

1.7 Elect Director Kanai, Hirokazu

For

For

1.8 Elect Director Kakizaki, Tamaki

For

For

1.9 Elect Director Tsunoda, Daiken

Electric Power Development Co. (J-Power)

28/06/2017 Japan

Annual

For

For

1.10 Elect Director Bruce Aronson

For

For

1.11 Elect Director Tsuchiya, Yutaka

For

For

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 35 2.1 Elect Director Kitamura, Masayoshi 2.2 Elect Director Watanabe, Toshifumi

For

For

2.3 Elect Director Murayama, Hitoshi

For

For

2.4 Elect Director Uchiyama, Masato

For

For

2.5 Elect Director Eto, Shuji

For

For

2.6 Elect Director Urashima, Akihito

For

For

2.7 Elect Director Onoi, Yoshiki

For

For

2.8 Elect Director Minaminosono, Hiromi

For

For

2.9 Elect Director Sugiyama, Hiroyasu

For

For

For

For

2.10 Elect Director Tsukuda, Hideki

99

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.11 Elect Director Honda, Makoto

For

For

2.12 Elect Director Kajitani, Go

For

For

2.13 Elect Director Ito, Tomonori

For

For

2.14 Elect Director John Buchanan

For

For

For

For

For

For

For

For

7 Approve Management Board Report on Company's and Group's Operations

For

For

8 Approve Financial Statements

For

For

9 Approve Consolidated Financial Statements

For

For

3 Appoint Statutory Auditor Kawatani, Shinichi ENEA S.A.

26/06/2017 Poland

Annual

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting 4 Approve Agenda of Meeting 5 Receive Supervisory Board Report 6 Receive Auditor's Report on Financial Statements, Consolidated Financial Statements, and on Management Board Reports on Company's and Groups Operations

10 Approve Allocation of Income and Dividends of PLN 0.25 per Share 11.1 Approve Discharge of Miroslaw Kowalik (CEO)

100

For

For

For

For

11.2 Approve Discharge of Wieslaw Piosik (Management Board Member) For

For

11.3 Approve Discharge of Piotr Adamczak (Management Board Member)

For

For

11.4 Approve Discharge of Mikolaj Franzkowiak (Management Board Member)

For

For

11.5 Approve Discharge of Dalida Gepfert (Management Board Member) For

For

11.6 Approve Discharge of Grzegorz Kinelski (Management Board Member)

For

For

12.1 Approve Discharge of Malgorzata Niezgoda (Supervisory Board Member)

For

For

12.2 Approve Discharge of Piotr Kossak (Supervisory Board Member)

For

For

12.3 Approve Discharge of Rafal Szymanski (Supervisory Board Member) For

For

12.4 Approve Discharge of Slawomir Brzezinski (Supervisory Board Member)

For

For

12.5 Approve Discharge of Wieslaw Piosik (Supervisory Board Member)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

12.6 Approve Discharge of Rafal Bargiel (Supervisory Board Member)

For

For

12.7 Approve Discharge of Roman Stryjski (Supervisory Board Member)

For

For

12.8 Approve Discharge of Piotr Mirkowski (Supervisory Board Member)

For

For

12.9 Approve Discharge of Tadeusz Miklosz (Supervisory Board Member) For

For

12.10 Approve Discharge of Wojciech Klimowicz (Supervisory Board Member)

For

For

12.11 Approve Discharge of Pawel Skopinski (Supervisory Board Member)

For

For

12.12 Approve Discharge of Tomasz Golebiowski (Supervisory Board Member)

For

For

12.13 Approve Discharge of Sandra Malinowska (Supervisory Board Member)

For

For

12.14 Approve Discharge of Radoslaw Winiarski (Supervisory Board Member)

For

For

For

Against

Concerns to protect shareholder interests

Against

Substance of resolution unclear at time of voting Concerns to protect shareholder interests

13 Amend Statute Shareholder Proposals

14 Amend Dec. 15, 2016, EGM Resolution Re: Remuneration Policy for None Management Board Members 15.1 Approve Disposal of Company's Assets

None

Against

15.2 Approve Regulations on Agreements for Legal Services, Marketing Services, Public Relations Services, and Social Communication Services

None

For

15.3 Approve Regulations on Agreements for Donations, Debt Exemptions, and Similar Agreements

None

For

15.4 Approve Regulations on Disposal of Assets

None

For

15.5 Approve Obligation of Publication of Statements on Expenses Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services

None

For

15.6 Approve Requirements for Candidates to Management Board

None

For

15.7 Approve Regulations on Election and Recruitment Process of Management Board Members

None

For

15.8 Approve Fulfilment of Obligations from Articles 17.7, 18.2, 20, and 23 of Act on State Property Management

None

For

None

Against

16 Approve Changes in Supervisory Board

Substance of resolution unclear at time of voting

17 Close Meeting Energa SA

101

26/06/2017 Poland

Annual

Management Proposals

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

4 Approve Agenda of Meeting

For

For

5 Approve Management Board Report on Company's Operations

For

For

6 Approve Financial Statements

For

For

7 Approve Allocation of Income and Dividends of PLN 0.19 per Share

For

For

For

For

1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting

8.1 Approve Discharge of Dariusz Kaskow (CEO)

102

8.2 Approve Discharge of Roman Pionkowski (Deputy CEO)

For

For

8.3 Approve Discharge of Mariusz Redaszka (Deputy CEO)

For

For

8.4 Approve Discharge of Grzegorz Ksepko (Deputy CEO)

For

For

8.5 Approve Discharge of Przemyslaw Piesiewicz (Deputy CEO)

For

For

8.6 Approve Discharge of Mariola Zmudzinska (Deputy CEO)

For

For

8.7 Approve Discharge of Seweryn Kedra (Deputy CEO)

For

For

9.1 Approve Discharge of Jaroslaw Mioduszewski (Supervisory Board Member)

For

For

9.2 Approve Discharge of Miroslaw Szreder (Supervisory Board Member)

For

For

9.3 Approve Discharge of Zbigniew Wtulich (Supervisory Board Member)

For

For

9.4 Approve Discharge of Paula Ziemiecka-Ksiezak (Supervisory Board Member)

For

For

9.5 Approve Discharge of Bogdan Skalski (Supervisory Board Member)

For

For

9.6 Approve Discharge of Roman Pionkowski (Supervisory Board Member)

For

For

9.7 Approve Discharge of Jacek Koscielniak (Supervisory Board Member)

For

For

9.8 Approve Discharge of Agnieszka Terlikowska-Kulesza (Supervisory Board Member)

For

For

9.9 Approve Discharge of Maciej Zoltkiewicz (Supervisory Board Member)

For

For

9.10 Approve Discharge of Andrzej Powalowski (Supervisory Board Member)

For

For

9.11 Approve Discharge of Marek Szczepaniec (Supervisory Board Member)

For

For

10 Approve Management Board Report on Group's Operations

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 11 Approve Consolidated Financial Statements 12 Fix Number of Supervisory Board Members

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

13.1 Elect Supervisory Board Member

For

Against

Substance of resolution unclear at time of voting

13.2 Elect Independent Supervisory Board Member

For

Against

Substance of resolution unclear at time of voting

Against

Substance of resolution unclear at time of voting

Shareholder Proposals 14 Amend Dec. 14, 2016, EGM Resolution Re: Remuneration Policy for None Management Board Members 15.1 Amend Statute Re: Management Board

None

For

15.2 Amend Statute Re: Management Board

None

For

15.3 Amend Statute Re: Supervisory Board

None

For

15.4 Amend Statute Re: Supervisory Board

None

For

15.5 Amend Statute Re: Supervisory Board

None

For

15.6 Amend Statute Re: Supervisory Board

None

For

15.7 Amend Statute Re: Disposal of Company Assets

None

For

16.1 Approve Disposal of Company's Assets

None

Against

16.2 Approve Regulations on Agreements for Legal Services, Marketing Services, Public Relations Services, and Social Communication Services

None

For

16.3 Approve Regulations on Agreements for Donations, Debt Exemptions, and Similar Agreements

None

Against

16.4 Approve Regulations on Disposal of Assets

None

For

16.5 Approve Obligation of Publication of Statements on Expenses Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services

None

For

16.6 Approve Requirements for Candidates to Management Board

None

For

16.7 Approve Regulations on Election and Recruitment Process of Management Board Members

None

For

16.8 Approve Fulfilment of Obligations from Articles 17.7, 18.2, 20, and 23 of Act on State Property Management

None

For

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Management Proposal 17 Close Meeting EPAM Systems, Inc.

103

06/06/2017 USA

Annual

1.1 Elect Director Ronald P. Vargo 1.2 Elect Director Jill B. Smart

For

For

1.3 Elect Director Peter Kuerpick

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Equity Residential

Eva Airways Corp.

Meeting Date Country

15/06/2017 USA

26/06/2017 Taiwan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

Concerns about linkage between pay and performance

1.1 Elect Director John W. Alexander

For

Withhold

Concerns about overall board structure

1.2 Elect Director Charles L. Atwood

For

Withhold

Concerns about overall board structure

1.3 Elect Director Linda Walker Bynoe

For

For

1.4 Elect Director Connie K. Duckworth

For

For

1.5 Elect Director Mary Kay Haben

For

For

1.6 Elect Director Bradley A. Keywell

For

For

1.7 Elect Director John E. Neal

For

For

1.8 Elect Director David J. Neithercut

For

For

1.9 Elect Director Mark S. Shapiro

For

For

1.10 Elect Director Gerald A. Spector

For

Withhold

1.11 Elect Director Stephen E. Sterrett

For

For

1.12 Elect Director Samuel Zell

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Provide Shareholders the Right to Amend Bylaws

Against

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Approve Amendments to Articles of Association

For

For

5 Approve Amendment to Rules and Procedures for Election of Directors and Supervisors

For

For

6 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

7 Amend Trading Procedures Governing Derivatives Products

For

For

8 Amend Procedures for Lending Funds to Other Parties, Endorsement and Guarantees

For

For

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance Proposal enhances accountability

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 9.1 Elect Lin Bou-Shiu , a Representative of Evergreen International Corp. with Shareholder No. 5414 as Non-independent Director

104

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Evergreen Marine Corp.

Meeting Date Country

22/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.2 Elect Chang Kuo-Cheng , a Representative of Evergreen For International Corp. with Shareholder No. 5414 as Non-independent Director

For

9.3 Elect Ko Lee-Ching , a Representative of Evergreen Marine Corp. (Taiwan) Ltd. with Shareholder No. 19 as Non-independent Director

For

For

9.4 Elect Tai Jiin-Chyuan , a Representative of Chang Yung-Fa Charity Foundation with Shareholder No. 306304 as Non-independent Director

For

For

9.5 Elect Chen Hsien-Hung , a Representative of Chang Yung-Fa Charity For Foundation with Shareholder No. 306304 as Non-independent Director

For

9.6 Elect Wu Kuang-Hui , a Representative of Evergreen Marine Corp. (Taiwan) Ltd. with Shareholder No. 19 as Non-independent Director

For

For

9.7 Elect Chien You-Hsin with ID No. R100061XXX as Independent Director

For

For

9.8 Elect Hsu Shun-Hsiung with ID No. P121371XXX as Independent Director

For

For

9.9 Elect Wu Chung-Pao with ID No. G120909XXX as Independent Director

For

For

10 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Statement of Profit and Loss Appropriation

For

For

3 Approve Amendments to Articles of Association

For

For

4 Approve Amendment to Rules and Procedures for Election of Directors and Supervisors

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Amend Trading Procedures Governing Derivatives Products

For

For

7 Amend Procedures for Lending Funds to Other Parties, Endorsement and Guarantees

For

For

For

For

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 8.1 Elect Chang Cheng-Yung, a Representative of Evergreen Steel Corporation with Shareholder No. 10710 as Non-independent Director

105

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

EVRAZ plc

106

Meeting Date Country

20/06/2017 United Kingdom

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8.2 Elect Chang Kuo-Hua, a Representative of Chang Yung Fa Charity Foundation with Shareholder No. 255161 as Non-independent Director

For

For

8.3 Elect Chang Kuo-Ming, a Representative of Chang Yung Fa Charity Foundation with Shareholder No. 255161 as Non-independent Director

For

For

8.4 Elect Ko Lee-Ching, a Representative of Evergreen International S.A. For with Shareholder No. 840 as Non-independent Director

For

8.5 Elect Lee Mong-Jye, a Representative of Evergreen International S.A. For with Shareholder No. 840 as Non-independent Director

For

8.6 Elect Hsieh Huey-Chuan, a Representative of Evergreen Steel Corporation with Shareholder No. 10710 as Non-independent Director

For

For

8.7 Elect Yu Fang-Lai with ID No. A102341XXX as Independent Director

For

For

8.8 Elect Chang Chia-Chee with ID No. A120220XXX as Independent Director

For

For

8.9 Elect Li Chang-Chou with ID No. H121150XXX as Independent Director

For

For

9 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Re-elect Alexander Abramov as Director

For

For

5 Re-elect Alexander Frolov as Director

For

For

6 Re-elect Eugene Shvidler as Director

For

For

7 Re-elect Eugene Tenenbaum as Director

For

For

8 Re-elect Karl Gruber as Director

For

For

9 Re-elect Deborah Gudgeon as Director

For

For

10 Re-elect Alexander Izosimov as Director

For

For

11 Re-elect Sir Michael Peat as Director

For

For

12 Reappoint Ernst & Young LLP as Auditors

For

For

13 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Exlservice Holdings, Inc.

Exova Group plc

Meeting Date Country

22/06/2017 USA

09/06/2017 United Kingdom

Meeting Type

Annual

Court

Exova Group plc

09/06/2017 United Kingdom

Special

Expedia, Inc.

13/06/2017 USA

Annual

Proposal Number Proposal Text

Vote Instruction Voter Rationale

16 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1a Elect Director David B. Kelso

For

For

1b Elect Director Som Mittal

For

For

1c Elect Director Clyde Ostler

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Approve Scheme of Arrangement

For

Against

Concerns about transaction

1 Approve Matters Relating to the Cash Acquisition of Exova Group plc by Element Materials Technology Group Limited

For

Against

Concerns about transaction

1a Elect Director Susan C. Athey

For

For

1b Elect Director A. George "Skip" Battle

For

For

1c Elect Director Chelsea Clinton

For

For

1d Elect Director Pamela L. Coe

For

For

1e Elect Director Barry Diller

For

For

Concerns about linkage between pay and performance

Court Meeting

1f Elect Director Jonathan L. Dolgen

For

For

1g Elect Director Craig A. Jacobson

For

For

1h Elect Director Victor A. Kaufman

For

For

1i Elect Director Peter M. Kern

For

For

1j Elect Director Dara Khosrowshahi

For

For

1k Elect Director John C. Malone

For

For

1l Elect Director Scott Rudin

107

Mgmt Rec

For

For

1m Elect Director Christopher W. Shean

For

For

1n Elect Director Alexander von Furstenberg

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

Three Years One Year

4 Ratify Ernst & Young LLP as Auditors

For

Concerns about linkage between pay and performance Annual votes enhance accountability

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 5 Report on Political Contributions and Expenditures

Facebook, Inc.

Fair Oaks Income Ltd.

Fanuc Corp.

01/06/2017 USA

06/06/2017 Guernsey

29/06/2017 Japan

Annual

Annual

Annual

Vote Instruction Voter Rationale

Against

For

1.1 Elect Director Marc L. Andreessen

For

For

1.2 Elect Director Erskine B. Bowles

For

For

1.3 Elect Director Susan D. Desmond-Hellmann

For

For

1.4 Elect Director Reed Hastings

For

For

1.5 Elect Director Jan Koum

For

For

Proposal encourages enhanced transparency

1.6 Elect Director Sheryl K. Sandberg

For

For

1.7 Elect Director Peter A. Thiel

For

Withhold

1.8 Elect Director Mark Zuckerberg

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Approve Recapitalization Plan for all Stock to Have One-vote per Share

Against

For

Proposal enhances accountability

4 Report on Lobbying Payments and Policy

Against

For

Proposal encourages enhanced transparency

Concerns about overall board structure

5 Report on Public Policy Issues Associated with Fake News

Against

For

Proposal promotes greater accountability

6 Gender Pay Gap

Against

For

Proposal encourages enhanced employment approach and diversity Proposal enhances board structure

7 Require Independent Board Chairman

Against

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Re-elect Claudio Albanese as Director

For

For

3 Re-elect Jonathan Bridel as Director

For

For

4 Re-elect Nigel Ward as Director

For

For

5 Ratify KPMG Channel Islands Limited as Auditors

For

For

6 Authorise Board to Fix Remuneration of Auditors

For

For

7 Authorise Market Purchase of 2014 Shares, 2017 Shares and C Shares

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 208.98

For

For

2 Amend Articles to Amend Business Lines 3.1 Elect Director Inaba, Yoshiharu

108

Mgmt Rec

For

For

For

For

3.2 Elect Director Yamaguchi, Kenji

For

For

3.3 Elect Director Uchida, Hiroyuki

For

For

3.4 Elect Director Gonda, Yoshihiro

For

For

3.5 Elect Director Inaba, Kiyonori

For

For

3.6 Elect Director Noda, Hiroshi

For

For

3.7 Elect Director Kohari, Katsuo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3.8 Elect Director Matsubara, Shunsuke 3.9 Elect Director Okada, Toshiya 3.10 Elect Director Richard E. Schneider

Far East Horizon Ltd.

Far EasTone Telecommunications Co., Ltd.

Feng Tay Enterprises Co., Ltd.

Fidelity Japanese Values PLC

109

07/06/2017 Hong Kong

23/06/2017 Taiwan

16/06/2017 Taiwan

06/06/2017 United Kingdom

Annual

Annual

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

For

For

3.11 Elect Director Tsukuda, Kazuo

For

For

3.12 Elect Director Imai, Yasuo

For

For

3.13 Elect Director Ono, Masato

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Authorize Board to Fix Remuneration of Directors

For

For

4 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests Concerns to protect shareholder interests

7 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Articles of Association

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Re-elect David Robins as Director

For

For

3 Re-elect Philip Kay as Director

For

For

4 Re-elect Sir Laurence Magnus as Director

For

For

5 Re-elect Mami Mizutori as Director

For

For

6 Re-elect Dominic Ziegler as Director

For

For

7 Approve Remuneration Report

For

For

8 Approve Remuneration Policy

For

For

9 Reappoint Ernst & Young LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Fidelity National Financial, Inc.

Fielmann AG

Findlay Park Funds plc - American Fund

Findlay Park Funds plc - Latin American Fund

First Financial Holding Co. Ltd.

First Pacific Co., Ltd.

110

Meeting Date Country

14/06/2017 USA

01/06/2017 Germany

13/06/2017 Ireland

13/06/2017 Ireland

16/06/2017 Taiwan

07/06/2017 Bermuda

Meeting Type

Annual

Annual

Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

1.1 Elect Director William P. Foley, II

For

For

1.2 Elect Director Douglas K. Ammerman

For

For

1.3 Elect Director Thomas M. Hagerty

For

For

1.4 Elect Director Peter O. Shea, Jr.

For

For

1.5 Elect Director Raymond R. Quirk

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

2 Approve Allocation of Income and Dividends of EUR 1.80 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

5 Ratify Deloitte GmbH as Auditors for Fiscal 2017

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify Grant Thornton as Auditors and Authorise Their Remuneration

For

For

3 Approve Remuneration of Directors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify Grant Thornton as Auditors and Authorise Their Remuneration

For

For

3 Approve Remuneration of Directors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Release of Restrictions of Competitive Activities of Appointed Directors

For

For

6 Other Business

None

Against

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Final Cash Distribution

For

For

Concerns about linkage between pay and performance

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

4.1 Elect Robert C. Nicholson as Director

For

Against

4.2 Elect Benny S. Santoso as Director

For

For

3 Approve Ernst & Young as Independent Auditor and Authorize Board or Audit and Risk Management Committee to Fix Their Remuneration

Foresight Solar Fund Limited

12/06/2017 Jersey

Formosa Chemicals & Fibre Corporation 09/06/2017 Taiwan

Formosa Petrochemical Corp.

Formosa Plastics Corp.

Formosa Taffeta Co. Ltd.

111

08/06/2017 Taiwan

13/06/2017 Taiwan

23/06/2017 Taiwan

Annual

Annual

Annual

Annual

Annual

4.3 Elect Albert F. del Rosario as Director

For

For

4.4 Elect Tedy Djuhar as Director

For

Against

5 Authorize Board or Remuneration Committee to Fix Remuneration of Directors

For

For

6 Authorize Board to Appoint Additional Directors

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

8 Authorize Repurchase of Issued Share Capital

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

4 Approve Remuneration Report

For

For

5 Approve Remuneration Policy

For

For

6 Authorise Market Purchase of Ordinary Shares

For

For

7 Authorise the Company to Cancel Any Repurchased Shares or Hold Such Shares as Treasury Shares

For

For

8 Authorise Issue of Equity without Pre-emptive Rights

For

Against

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Transact Other Business

None

Against

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Other Business

None

Against

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Other Business

None

Against

1 Approve Financial Statements

For

For

Concerns about overall board structure

Concerns about overall board structure

Concerns to protect shareholder interests

Substance of resolution unclear at time of voting

Substance of resolution unclear at time of voting

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4.1 Elect Wong Wen Yuan, a Representative of Formosa Chemicals and Fibre Corporation with Shareholder No. 2 as Non-independent Director

For

For

4.2 Elect Hsie Shih Ming, a Representative of Kai Fu Enterprise Co., Ltd. with Shareholder No. 208207 as Non-independent Director

For

For

4.3 Elect Hong Fu Yuan, a Representative of Formosa Chemicals and Fibre Corporation with Shareholder No. 2 as Non-independent Director

For

For

4.4 Elect Huang Dong Terng, a Representative of Formosa Chemicals and Fibre Corporation with Shareholder No. 2 as Non-independent Director

For

For

4.5 Elect Lee Ming Chang, a Representative of Formosa Chemicals and Fibre Corporation with Shareholder No. 2 as Non-independent Director

For

For

4.6 Elect Tsai Tien Shuan, a Representative of Formosa Chemicals and Fibre Corporation with Shareholder No. 2 as Non-independent Director

For

For

4.7 Elect Lee Man Chun, a Representative of Changhua County Shu-Wang Lai's Welfare and Charity Foundation with Shareholder No. 14515 as Non-independent Director

For

For

4.8 Elect Hsieh Ming Der with Shareholder No. 90 as Non-independent For Director

For

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

4.9 Elect Cheng Yu with ID No. P102776XXX as Independent Director

Fortive Corporation

06/06/2017 USA

Annual

For

For

4.10 Elect Wang Kung with ID No. A100684XXX as Independent Director

For

For

4.11 Elect Kuo Chia Chi with Shareholder No. 218419 as Independent Director

For

For

5 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

Against

Substance of resolution unclear at time of voting

6 Other Business

Substance of resolution unclear at time of voting

None

Against

1A Elect Director Kate Mitchell

For

For

1B Elect Director Israel Ruiz

For

For

For

For

2 Ratify Ernst and Young LLP as Auditors

112

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Fosun International Ltd

Fosun International Ltd

113

Meeting Date Country

06/06/2017 Hong Kong

06/06/2017 Hong Kong

Meeting Type

Annual

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Declassify the Board of Directors

For

For

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3.1 Elect Zhang Huaqiao as Director

For

Against

3.2 Elect David T. Zhang as Director

For

For

3.3 Elect Yang Chao as Director

For

For

3.4 Elect Wang Can as Director

For

For

3.5 Elect Kang Lan as Director

For

For

3.6 Elect Gong Ping as Director

For

For

3.7 Elect Lee Kai-Fu as Director

For

For

3.8 Authorize Board to Fix Remuneration of Directors

For

For

4 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns about linkage between pay and performance

Concerns about overall board structure

Concerns to protect shareholder interests

7 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

8 Adopt New Share Option Scheme

For

Against

Concerns about linkage between pay and performance

9 Approve Grant of Options and Issuance of Shares Under the Share Option Scheme

For

Against

Concerns about linkage between pay and performance

1a Approve Specific Mandate to Issue New Award Shares to Computershare Hong Kong Trustees Limited Under Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1b Approve Grant of Award Shares to Chen Qiyu Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1c Approve Grant of Award Shares to Xu Xiaoliang Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1d Approve Grant of Award Shares to Qin Xuetang Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1e Approve Grant of Award Shares to Wang Can Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Foxconn Technology Co. Ltd

Fox-Wizel Ltd.

114

Meeting Date Country

22/06/2017 Taiwan

22/06/2017 Israel

Meeting Type

Annual

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1f Approve Grant of Award Shares to Kang Lan Under the Share Award For Scheme

Against

Concerns about linkage between pay and performance

1g Approve Grant of Award Shares to Gong Ping Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1h Approve Grant of Award Shares to Zhang Shengman Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1i Approve Grant of Award Shares to Zhang Huaqiao Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1j Approve Grant of Award Shares to David T. Zhang Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1k Approve Grant of Award Shares to Yang Chao Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1l Approve Grant of Award Shares to Lee Kai-Fu Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1m Approve Grant of Award Shares to Qian Jiannong Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1n Approve Grant of Award Shares to Wang Jiping Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1o Approve Grant of Award Shares to Li Jun Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1p Approve Grant of Award Shares to Xu Lingjiang Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1q Approve Grant of Award Shares to Selected Participants Under the Share Award Scheme

For

Against

Concerns about linkage between pay and performance

1r Authorize Board to Deal with All Matters in Relation to the Issuance For of New Award Shares Under the Share Award Scheme

Against

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

2 Adopt Shanghai Henlius Share Option Incentive Scheme and Authorize Board to Issue Shares Under the Shanghai Henlius Share Option Incentive Scheme

For

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Compensation Policy for the Directors and Officers of the Company

For

For

2 Subject to Approval of Item 1: Approve and Update the Employment Terms of Harel Eliezer Wiesel, CEO

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Subject to Approval of Item 1: Approve and Update the Employment Terms of Asaf Wiesel, Who are Among the Controlling Shareholders of the Company

For

For

4 Subject to Approval of Item 1: Approve and Update the Employment Terms of Elad Vered, Deputy CEO of Purchasing and Logistics

For

For

5 Subject to Approval of Item 1: Approve and Update the Employment Terms of Michal Rivkind Fuchs, CEO of The Childers's Place Fox-wizel Ltd.

For

For

6 Approve an Update to the Monthly Fixed Salary of Shahar Rania, CFO

For

For

7 Approve an Update to the Monthly Fixed Salary of Noah Landau, VP For Real Estate

For

8 Approve Updates to the Employment Terms of Asaf Wiesel

For

For

9 Approve Updates to the Employment Terms of Elad Vered

For

For

10 Approve Employment Terms of Tomer Czapnik, VP of Sales

For

For

11 Approve Grant of RSUs to Harel Eliezer Wiesel, CEO

For

For

12 Approve Employment Terms of Harel Eliezer Wiesel, CEO, in Accordance with the Applicable Law

For

For

13 Approve Employment Terms of Michal Rivkind Fuchs, CEO of The Childers's Place Fox-wizel Ltd., in Accordance with the Applicable Law

For

For

None

Against

No control status or personal interest in the proposals

B1 If you are an Interest Holder as defined in Section 1 of the Securities None Law, 1968, vote FOR. Otherwise, vote against.

Against

Not an interest holder

B2 If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Against

Not a senior officer

A Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager Please Select Any Category Which Applies to You as a Shareholder or as a Holder of Power of Attorney

115

None

B3 If you are an Institutional Investor as defined in Regulation 1 of the None Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.

For

B4 If you do not fall under any of the categories mentioned under items B1 through B3, vote FOR. Otherwise, vote against.

Against

None

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Freeport-McMoRan Inc.

Fubon Financial Holding Co. Ltd.

Meeting Date Country 06/06/2017 USA

16/06/2017 Taiwan

Meeting Type Annual

Annual

Proposal Number Proposal Text 1.1 Elect Director Richard C. Adkerson

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1.2 Elect Director Gerald J. Ford

For

For

1.3 Elect Director Lydia H. Kennard

For

For

1.4 Elect Director Andrew Langham

For

For

1.5 Elect Director Jon C. Madonna

For

For

1.6 Elect Director Courtney Mather

For

For

1.7 Elect Director Dustan E. McCoy

For

For

1.8 Elect Director Frances Fragos Townsend

For

For

2 RatifyErnst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Long-term Plan to Raise Capital

For

For

4 Approve Amendments to Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6.1 Elect Richard M. Tsai, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.2 Elect Daniel M. Tsai, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.3 Elect Vivien Hsu, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.4 Elect Eric Chen, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.5 Elect Howard Lin, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.6 Elect Jerry Harn, Representative of Ming Dong Industrial Co., Ltd. with Shareholder No. 72, as Non-independent Director

For

For

6.7 Elect Chih Ming Chen, Representative of Taipei City Government with Shareholder No. 297306, as Non-independent Director

For

For

6.8 Elect Hsiu Hui Yuan, Representative of Taipei City Government with For Shareholder No. 297306, as Non-independent Director

For

Concerns about linkage between pay and performance

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

116

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

6.10 Elect Chi Yan Louis Cheung with ID No. E8806XXX as Independent Director

For

For

6.11 Elect Ming Je Tang with Shareholder No. 255756 as Independent Director

For

For

6.12 Elect Shin Min Chen with ID No. J100657XXX as Independent Director

For

For

6.13 Elect Chan Jane Lin with ID NO. R203128XXX as Independent Director

For

For

6.14 Elect Jung Feng Chang with ID No. H101932XXX as Independent Director

For

For

6.15 Elect Fan Chih Wu with ID No. A101441XXX as Independent Director

For

For

7 Approve Release of Restrictions of Competitive Activities of Richard For M. Tsai

For

8 Approve Release of Restrictions of Competitive Activities of Daniel M. Tsai

For

For

9 Approve Release of Restrictions of Competitive Activities of Chi Yan Louis Cheung

For

For

10 Approve Release of Restrictions of Competitive Activities of Jerry Harn

For

For

11 Approve Release of Restrictions of Competitive Activities of Taipei City Government

For

For

6.9 Elect Hsiu Chu Liang, Representative of Taipei City Government with Shareholder No. 297306, as Non-independent Director

Fuji Electric Co., Ltd.

27/06/2017 Japan

Annual

1.1 Elect Director Kitazawa, Michihiro

For

For

1.2 Elect Director Sugai, Kenzo

For

For

1.3 Elect Director Abe, Michio

For

For

1.4 Elect Director Arai, Junichi

For

For

1.5 Elect Director Tomotaka, Masatsugu

For

For

1.6 Elect Director Tamba, Toshihito

For

For

1.7 Elect Director Tachikawa, Naomi

For

For

1.8 Elect Director Hayashi, Yoshitsugu

For

For

For

For

2 Appoint Statutory Auditor Matsumoto, Junichi FUJIFILM Holdings Corp.

117

29/06/2017 Japan

Annual

For

For

2.1 Elect Director Komori, Shigetaka

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For

For

2.2 Elect Director Sukeno, Kenji

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.3 Elect Director Tamai, Koichi

26/06/2017 Japan

Annual

118

Annual

For

For

For

For

For

2.6 Elect Director Yoshizawa, Masaru

For

For

2.7 Elect Director Kawada, Tatsuo

For

For

2.8 Elect Director Kaiami, Makoto

For

For

2.9 Elect Director Kitamura, Kunitaro

For

For

For

For

For

For

1.1 Elect Director Yamamoto, Masami 1.2 Elect Director Tanaka, Tatsuya

For

For

1.3 Elect Director Taniguchi, Norihiko

For

For

1.4 Elect Director Tsukano, Hidehiro

For

For

1.5 Elect Director Duncan Tait

For

For

1.6 Elect Director Furukawa, Tatsuzumi

For

For

1.7 Elect Director Suda, Miyako

For

For

1.8 Elect Director Yokota, Jun

For

For

1.9 Elect Director Mukai, Chiaki

29/06/2017 Japan

For

2.4 Elect Director Toda, Yuzo

For

For

For

For

2 Appoint Statutory Auditor Hirose, Yoichi

For

For

3 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6.5

For

For

2 Amend Articles to Reflect Changes in Law

For

For

3.1 Elect Director Tani, Masaaki

For

Against

Holding executives accountable for ongoing poor returns

3.2 Elect Director Shibato, Takashige

For

Against

Holding executives accountable for ongoing poor returns

1.10 Elect Director Abe, Atsushi

Fukuoka Financial Group Inc.

Vote Instruction Voter Rationale

2.5 Elect Director Shibata, Norio

3 Appoint Statutory Auditor Mishima, Kazuya Fujitsu Ltd.

Mgmt Rec

3.3 Elect Director Yoshikai, Takashi

For

For

3.4 Elect Director Yoshida, Yasuhiko

For

For

3.5 Elect Director Shirakawa, Yuji

For

For

3.6 Elect Director Araki, Eiji

For

For

3.7 Elect Director Yokota, Koji

For

For

3.8 Elect Director Takeshita, Ei

For

For

3.9 Elect Director Aoyagi, Masayuki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Gamesa Corporacion Tecnologica S.A.

Meeting Date Country

20/06/2017 Spain

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.10 Elect Director Yoshizawa, Shunsuke

For

For

3.11 Elect Director Morikawa, Yasuaki

For

For

3.12 Elect Director Fukasawa, Masahiko

For

For

3.13 Elect Director Kosugi, Toshiya

For

For

4.1 Appoint Alternate Statutory Auditor Gondo, Naohiko

For

For

4.2 Appoint Alternate Statutory Auditor Miura, Masamichi

For

For

1 Approve Consolidated and Standalone Financial Statements

For

For

2 Approve Consolidated and Standalone Management Reports

For

For

3 Approve Discharge of Board

For

For

4 Approve Allocation of Income and Dividends

For

Against

Concerns about allocation of returns

5 Ratify Appointment of and Elect Luis Javier Cortes Dominguez as Director

For

Against

Concerns about overall board structure

For

6 Ratify Appointment of and Elect Markus Tacke as Director

For

7 Ratify Appointment of and Elect Michael Sen as Director

For

Against

8 Reelect Carlos Rodriguez-Quiroga Menendez as Director

For

For

9.1 Change Company Name to Siemens Gamesa Renewable Energy SA

For

For

9.2 Amend Article 17 Re: Meeting Location

For

For

9.3 Amend Article 49 Re: Fiscal Year and Annual Accounts

For

For

9.4 Approve Restated Articles of Association

For

For

For

For

10.1 Amend Articles of General Meeting Regulations Re: Purpose and General Meetings

Gaming and Leisure Properties, Inc.

15/06/2017 USA

Annual

10.2 Amend Article 19 of General Meeting Regulations Re: Location

For

For

10.3 Approve Restated General Meeting Regulations

For

For

11 Renew Appointment of Ernst & Young as Auditor

For

For

12 Approve Remuneration Policy

For

For

13 Authorize Board to Ratify and Execute Approved Resolutions

For

For

14 Advisory Vote on Remuneration Report

For

For

1.1 Elect Director Joseph W. Marshall, III

For

For

1.2 Elect Director E. Scott Urdang

For

For

1.3 Elect Director Earl C. Shanks

For

For

1.4 Elect Director James B. Perry

For

For

For

For

2 Ratify Deloitte & Touche LLP as Auditors

119

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Garmin Ltd.

Meeting Date Country

09/06/2017 Switzerland

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Require a Majority Vote for the Election of Directors

Against

For

1 Accept Consolidated Financial Statements and Statutory Reports

For

For

2 Accept Financial Statements and Statutory Reports

For

For

3 Approve Dividends

For

For

4 Approve Discharge of Board and Senior Management

For

For

5.1 Elect Director Donald H. Eller

For

Against

5.2 Elect Director Joseph J. Hartnett

For

For

5.3 Elect Director Min H. Kao

For

For

5.4 Elect Director Charles W. Peffer

For

For

5.5 Elect Director Clifton A. Pemble

For

For

5.6 Elect Director Rebecca R. Tilden

For

For

6 Elect Min H. Kao as Board Chairman

For

For

7.1 Appoint Donald H. Eller as Member of the Compensation Committee

For

For

7.2 Appoint Joseph J. Hartnett as Member of the Compensation Committee

For

For

7.3 Appoint Charles W. Peffer as Member of the Compensation Committee

For

For

7.4 Appoint Rebecca R. Tilden as Member of the Compensation Committee

For

For

8 Designate Reiss + Preuss LLP as Independent Proxy

For

For

9 Ratify Ernst & Young LLP as Auditors

For

For

For

For

11 Approve Maximum Aggregate Compensation for the Board of For Directors for the Period Between the 2017 AGM and the 2018 AGM

For

12 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

13 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

10 Approve Fiscal Year 2018 Maximum Aggregate Compensation for the Executive Management

Gazprom PJSC

120

30/06/2017 Russia

Annual

Concerns about linkage between pay and performance Proposal enhances board accountability

Concerns about overall board structure

Concerns about linkage between pay and performance

Meeting for ADR Holders

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Approve Allocation of Income

For

For

4 Approve Dividends of RUB 8.0397 Per Share

For

For

5 Ratify FBK as Auditor

For

For

6 Approve Remuneration of Directors

For

Against

7 Approve Remuneration of Members of Audit Commission

For

For

8 Amend Charter

For

For

9 Amend Regulations on Board of Directors

For

For

10 Amend Regulations on Management

For

For

11 Amend Regulations on CEO

For

For

12 Approve New Edition of Company's Corporate Governance Code

For

For

13 Approve Company's Membership in Global Gas Center

For

For

Concerns about linkage between pay and performance

Elect 11 Directors by Cumulative Voting 14.1 Elect Andrey Akimov as Director

None

Against

None of candidates enhances board independence

14.2 Elect Viktor Zubkov as Director

None

Against

None of candidates enhances board independence

14.3 Elect Timur Kulibaev as Director

None

Against

None of candidates enhances board independence

14.4 Elect Denis Manturov as Director

None

Against

None of candidates enhances board independence

14.5 Elect Vitaliy Markelov as Director

None

Against

None of candidates enhances board independence

14.6 Elect Viktor Martynov as Director

None

Against

None of candidates enhances board independence

14.7 Elect Vladimir Mau as Director

None

Against

None of candidates enhances board independence

14.8 Elect Aleksey Miller as Director

None

Against

None of candidates enhances board independence

14.9 Elect Aleksandr Novak as Director

None

Against

None of candidates enhances board independence

14.10 Elect Dmitry Patrushev as Director

None

Against

None of candidates enhances board independence

14.11 Elect Mikhail Sereda as Director

None

Against

None of candidates enhances board independence

Elect Nine Members of Audit Commission

121

15.1 Elect Vladimir Alisov as Member of Audit Commission

For

Against

Votes to favour our preferred candidates

15.2 Elect Vadim Bikulov as Member of Audit Commission

For

For

Votes to favour our preferred candidates

15.3 Elect Aleksandr Gladkov as Member of Audit Commission

For

For

Votes to favour our preferred candidates

15.4 Elect Aleksandr Ivannikov as Member of Audit Commission

For

Against

Votes to favour our preferred candidates

15.5 Elect Margarita Mironova as Member of Audit Commission

For

For

Votes to favour our preferred candidates

15.6 Elect Lidiya Morozova as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

15.7 Elect Yury Nosov as Member of Audit Commission

For

For

Votes to favour our preferred candidates

15.8 Elect Karen Oganyan as Member of Audit Commission

For

For

Votes to favour our preferred candidates

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 15.9 Elect Dmitry Pashkovsky as Member of Audit Commission

Gem Diamonds Ltd

Genel Energy plc

122

06/06/2017 United Kingdom

06/06/2017 Jersey

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

Do Not Vote

Votes to favour our preferred candidates

15.10 Elect Alexandra Petrova as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

15.11 Elect Sergey Platonov as Member of Audit Commission

For

For

Votes to favour our preferred candidates

15.12 Elect Mikhail Rosseev as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

15.13 Elect Oksana Tarasenko as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

15.14 Elect Tatyana Fisenko as Member of Audit Commission

For

For

Votes to favour our preferred candidates

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Reappoint Ernst & Young LLP as Auditors

For

For

5 Authorise Board to Fix Remuneration of Auditors

For

For

6 Re-elect Mike Salamon as Director

For

For

7 Re-elect Gavin Beevers as Director

For

For

8 Re-elect Michael Lynch-Bell as Director

For

For

9 Re-elect Clifford Elphick as Director

For

For

10 Re-elect Michael Michael as Director

For

For

11 Re-elect Glenn Turner as Director

For

For

12 Approve Employee Share Option Plan

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Market Purchase of Ordinary Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Re-elect Murat Ozgul as Director

For

For

5 Elect Tolga Bilgin as Director

For

For

6 Re-elect Simon Lockett as Director

For

For

7 Re-elect Mehmet Ogutcu as Director

For

For

8 Re-elect George Rose as Director

For

For

9 Re-elect Nathaniel Rothschild as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

General Motors Company

Genting Berhad

123

Meeting Date Country

06/06/2017 USA

01/06/2017 Malaysia

Meeting Type

Proxy Contest

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Elect Stephen Whyte as Director

For

For

11 Re-elect Gulsun Williams as Director

For

For

12 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

13 Authorise Board to Fix Remuneration of Auditors

For

For

14 Authorise EU Political Donations and Expenditure

For

For

15 Authorise Market Purchase of Ordinary Shares

For

For

16 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

Management Proxy (White Proxy Card) 1.1 Elect Director Joseph J. Ashton

For

For

1.2 Elect Director Mary T. Barra

For

For

1.3 Elect Director Linda R. Gooden

For

For

1.4 Elect Director Joseph Jimenez

For

For

1.5 Elect Director Jane L. Mendillo

For

For

1.6 Elect Director Michael G. Mullen

For

For

1.7 Elect Director James J. Mulva

For

For

1.8 Elect Director Patricia F. Russo

For

For

1.9 Elect Director Thomas M. Schoewe

For

For

1.10 Elect Director Theodore M. Solso

For

For

1.11 Elect Director Carol M. Stephenson

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Approve Executive Incentive Bonus Plan

For

Against

Concerns about linkage between pay and performance

4 Approve Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

5 Ratify Deloitte & Touche LLP as Auditors

For

Against

Concerns about auditor independence

6 Require Independent Board Chairman

Against

For

Proposal enhances board structure

7 Creation of Dual-Class Common Stock

Against

Against

1 Approve Final Dividend

For

For

2 Approve Remuneration of Directors

For

For

3 Elect Chin Kwai Yoong as Director

For

Against

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Georgia Healthcare Group PLC

Gigabyte Technology Co., Ltd.

G-III Apparel Group, Ltd.

124

Meeting Date Country

01/06/2017 United Kingdom

14/06/2017 Taiwan

15/06/2017 USA

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

6 Authorize Share Repurchase Program

For

For

7 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Irakli Gilauri as Director

For

For

4 Re-elect Nikoloz Gamkrelidze as Director

For

For

5 Re-elect David Morrison as Director

For

For

6 Re-elect Neil Janin as Director

For

For

7 Re-elect Ingeborg Oie as Director

For

For

8 Re-elect Tim Elsigood as Director

For

For

9 Re-elect Mike Anderson as Director

For

For

10 Re-elect Jacques Richier as Director

For

For

11 Reappoint Ernst & Young LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

17 Authorise Market Purchase of Ordinary Shares

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Amend Procedures for Endorsement and Guarantees

For

For

5 Approve Cash Distribution from Capital Reserve

For

For

6 Transact Other Business

None

Against

For

For

1.1 Elect Director Morris Goldfarb 1.2 Elect Director Sammy Aaron

For

For

1.3 Elect Director Thomas J. Brosig

For

Withhold

Substance of resolution unclear at time of voting

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.4 Elect Director Alan Feller

Globus Medical, Inc.

Godrej Consumer Products Ltd.

07/06/2017 USA

17/06/2017 India

Annual

Special

Gome Electrical Appliances Holdings Ltd

12/06/2017 Bermuda

Special

Granite Real Estate Investment Trust

15/06/2017 Canada

Proxy Contest

125

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1.5 Elect Director Jeffrey Goldfarb

For

For

1.6 Elect Director Jeanette Nostra

For

For

1.7 Elect Director Laura Pomerantz

For

For

1.8 Elect Director Allen Sirkin

For

For

1.9 Elect Director Willem van Bokhorst

For

Withhold

1.10 Elect Director Cheryl L. Vitali

For

For

1.11 Elect Director Richard White

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Ernst & Young LLP as Auditors

For

For

1a Elect Director David M. Demski

For

Against

1b Elect Director Kurt C. Wheeler

For

For

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

1 Increase Authorized Share Capital and Amend Memorandum of Association

For

For

2 Amend Articles of Association to Reflect Changes in Capital

For

For

3 Approve Issuance of Bonus Shares

For

For

1 Change English Name and Adopt Chinese Name

For

For

1.1 Elect Trustee Donald Clow

For

For

1.2 Elect Trustee Brydon Cruise

For

Withhold

1.3 Elect Trustee Remco G. Daal

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance

Concerns about overall Board structure

Concerns about linkage between pay and performance

Postal Ballot

Management Proxy (White Proxy Card)

1.4 Elect Trustee Peter Dey

For

For

1.5 Elect Trustee Michael Forsayeth

For

For

1.6 Elect Trustee Kelly Marshall

For

For

1.7 Elect Trustee Gerald Miller

For

For

1.8 Elect Trustee G. Wesley Voorheis

For

Withhold

2.1 Elect Director Donald Clow of Granite REIT Inc.

For

For

Concerns about overall board structure

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.2 Elect Director Brydon Cruise of Granite REIT Inc.

15/06/2017 India

Grupo Financiero Banorte S.A.B. de C.V. 20/06/2017 Mexico

Guangdong Investment Ltd.

23/06/2017 Hong Kong

Annual

Special

Annual

For

Withhold

2.3 Elect Director Remco G. Daal of Granite REIT Inc.

For

For

For

For

2.5 Elect Director Michael Forsayeth of Granite REIT Inc.

For

For

2.6 Elect Director Kelly Marshall of Granite REIT Inc.

For

For

2.7 Elect Director Gerald Miller of Granite REIT Inc.

For

For

For

Withhold

3 Ratify Deloitte LLP as Auditors

For

For

4 Approve Deloitte LLP as Auditors of Granite REIT Inc. and Authorize Board to Fix Their Remuneration

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividend

For

For

3 Reelect Kamlesh Shah as Director

For

For

4 Approve Deloitte Haskins & Sells LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Elect Pankaj Ramanbhai Patel as Director

For

For

6 Elect Rajesh Narain Gupta as Director

For

For

7 Reelect Prafull Anubhai as Director

For

For

8 Reelect S. G. Mankad as Director

For

For

9 Approve Reappointment and Remuneration of Sudhin Choksey as Managing Director

For

For

10 Approve Reappointment and Remuneration of Kamlesh Shah as Executive Director

For

For

11 Authorize Issuance of Non-Convertible Debentures

For

For

Concerns about overall board structure

Concerns about candidate

Ordinary Business 1.1 Approve Cash Dividends of MXN 2.78 Per Share

For

For

1.2 Approve Extraordinary Dividends of MXN 1.26 Per Share

For

For

1.3 Approve June 29, 1017 as Dividend Payment Date

For

For

2 Authorize Board to Ratify and Execute Approved Resolutions

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

For

For

3.1 Elect Tsang Hon Nam as Director

126

Vote Instruction Voter Rationale

2.4 Elect Director Peter Dey of Granite REIT Inc.

2.8 Elect Director G. Wesley Voorheis of Granite REIT Inc.

GRUH Finance Ltd

Mgmt Rec

3.2 Elect Zhao Chunxiao as Director

For

For

3.3 Elect Fung Daniel Richard as Director

For

Against

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

GVC Holdings PLC

H&R Real Estate Investment Trust

127

Meeting Date Country

20/06/2017 Isle of Man

19/06/2017 Canada

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.4 Elect Cheng Mo Chi, Moses as Director

For

Against

3.5 Authorize Board to Fix Remuneration of Directors

Concerns about overall board structure

For

For

4 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6 Authorize Repurchase of Issued Share Capital

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

Concerns about the linkage between pay and performance

3 Approve Remuneration Policy

For

Against

Concerns about the linkage between pay and performance

4 Ratify Grant Thornton UK LLP as Auditors and Authorise Their Remuneration

For

For

5 Elect Paul Miles as Director

For

For

6 Elect Will Whitehorn as Director

For

For

7 Re-elect Kenneth Alexander as Director

For

For

8 Re-elect Karl Diacono as Director

For

Against

Concerns about overall board structure

9 Re-elect Lee Feldman as Director

For

Against

Concerns about overall board structure

10 Re-elect Peter Isola as Director

For

Against

Concerns about overall board structure

11 Re-elect Stephen Morana as Director

For

For

12 Re-elect Norbert Teufelberger as Director

For

Against

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Market Purchase of Ordinary Shares

For

For

1 Elect Alex Avery as Trustee of the REIT

For

For

2 Elect Robert E. Dickson as Trustee of the REIT

For

Withhold

Concerns about overall board structure

3 Elect Edward Gilbert as Trustee of the REIT

For

Withhold

Concerns about overall board structure

Concerns to protect shareholder interests

Concerns about overall board structure

In Respect of the Real Estate Investment Trust

4 Elect Thomas J. Hofstedter as Trustee of the REIT

For

For

5 Elect Laurence A. Lebovic as Trustee of the REIT

For

Withhold For

6 Elect Juli Morrow as Trustee of the REIT

For

7 Elect Ronald C. Rutman as Trustee of the REIT

For

Withhold

8 Elect Stephen L. Sender as Trustee of the REIT

For

For

Concerns about overall board structure Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

10 Advisory Vote on Executive Compensation Approach

For

Against

11 Amend Declaration of Trust

For

For

1 Elect Marvin Rubner as Trustee of the Finance Trust

For

For

2 Elect Shimshon (Stephen) Gross as Trustee of the Finance Trust

For

For

3 Elect Neil Sigler as Trustee of the Finance Trust

For

For

4 Approve KPMG LLP as Auditors of Finance Trust and Authorize Board to Fix Their Remuneration

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 8

For

For

For

Against

9 Approve KPMG LLP as Auditors of the REIT and Authorize Trustees to Fix Their Remuneration

Concerns about linkage between pay and performance

In Respect of Finance Trust

Hachijuni Bank Ltd.

23/06/2017 Japan

Annual

2.1 Elect Director Yumoto, Shoichi

Haier Electronics Group Co Ltd

128

21/06/2017 Bermuda

Annual

2.2 Elect Director Matsushita, Masaki

For

For

2.3 Elect Director Nakamura, Takashi

For

For

2.4 Elect Director Matsuda, Yoshinori

For

For

2.5 Elect Director Funami, Hideo

For

For

2.6 Elect Director Yoshie, Muneo

For

For

2.7 Elect Director Kurosawa, Sokichi

For

For

For

For

1 Accept Financial Statements and Statutory Reports 2A1 Elect Tan Li Xia as Director

For

Against

2A2 Elect Sun Jing Yan as Director

For

For

2A3 Elect Tsou Kai-Lien, Rose as Director

For

For

2B Elect Yin Jing as Director

For

For

2C Authorize Board to Fix Remuneration of Directors

For

For

3 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

4 Approve Final Dividend

For

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Holding executives accountable for ongoing poor returns

Concerns about overall board structure

Concerns to protect shareholder interests

7 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

8 Approve Allotment and Issuance of Additional Shares Under the Restricted Share Award Scheme

For

Against

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Haitong Securities Co., Ltd.

Meeting Date Country 06/06/2017 China

Meeting Type Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Annual Report

For

For

4 Approve 2016 Final Accounts Report

For

For

5 Approve 2016 Profit Distribution Plan

For

For

6 Approve Renewal of Engagement of A Share Auditing Firm and H Share Auditing Firm for the Year 2017

For

For

7 Approve Proposal Regarding Investment Asset Allocation of Equity and Non-equity Products of the Company

For

For

8 Approve Daily Related Party Transactions

For

For

9 Approve Proposal Regarding Compliance of the Overseas Listing of Haitong UniTrust International Leasing Corporation in Relation to Regulating Offshore Listing of Subsidiaries of Domestic Listed Companies

For

For

10.1 Approve Issuer in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.2 Approve Place of Listing in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.3 Approve Type of Shares to be Issued in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.4 Approve Par Value per Share in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.5 Approve Target Subscribers in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.6 Approve Timing of Issuance in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

10.7 Approve Method of Issuance in Relation to the Plan of the Overseas For Listing of Haitong UniTrust International Leasing Corporation

For

10.8 Approve Size of Issuance in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

AGM BALLOT FOR HOLDERS OF H SHARES ORDINARY RESOLUTIONS

RESOLUTIONS IN RELATION TO THE PLAN OF THE OVERSEAS LISTING OF HAITONG UNITRUST INTERNATIONAL LEASING CORPORATION

129

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

11 Approve Undertaking of the Company to Maintain its Independent For Listing Status after Listing of Haitong UniTrust International Leasing Corporation

For

12 Approve Description of the Sustainable Profitability and Prospects of the Company after Listing of Haitong UniTrust International Leasing Corporation

For

For

13 Authorize Board to Handle All Matters in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

For

For

For

For

10.9 Approve Method of Pricing in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation 10.10 Approve Application for the Outstanding Unlisted Foreign Shares Converting to H Shares in Relation to the Plan of the Overseas Listing of Haitong UniTrust International Leasing Corporation

SPECIAL RESOLUTIONS 1 Approve Provision of Assured Entitlement Only to the Holders of H Shares of the Company for the Spin-off and Overseas Listing of Haitong UniTrust International Leasing Corporation

2 Approve Amendments to Articles of Association, Rules of Procedure For for Board Meetings and Rules of Procedure for the Supervisory Committee

Against

Concerns to protect shareholder interests

3 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

For

For

For

For

ORDINARY RESOLUTION 14 Elect Wu Yuezhou as Director Haitong Securities Co., Ltd.

06/06/2017 China

Special

CLASS MEETING FOR HOLDERS OF H SHARES 1 Approve Provision of Assured Entitlement Only to the Holders of H Shares of the Company for the Spin-off and Overseas Listing of Haitong UniTrust International Leasing Corporation

Hakuhodo Dy Holdings Inc.

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 12 2.1 Elect Director Narita, Junji

130

For

For

For

For

2.2 Elect Director Toda, Hirokazu

For

For

2.3 Elect Director Sawada, Kunihiko

For

For

2.4 Elect Director Matsuzaki, Mitsumasa

For

For

2.5 Elect Director Imaizumi, Tomoyuki

For

For

2.6 Elect Director Nakatani, Yoshitaka

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.7 Elect Director Nishioka, Masanori

Hanergy Thin Film Power Group Ltd

Hankyu Hanshin Holdings Inc.

08/06/2017 Bermuda

13/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

For

2.8 Elect Director Nishimura, Osamu

For

For

2.9 Elect Director Mizushima, Masayuki

For

For

2.10 Elect Director Ochiai, Hiroshi

For

For

2.11 Elect Director Fujinuma, Daisuke

For

For

2.12 Elect Director Yajima, Hirotake

For

For

2.13 Elect Director Matsuda, Noboru

For

For

2.14 Elect Director Hattori, Nobumichi

For

For

3 Approve Annual Bonus

For

For

4 Approve Bonus Related to Retirement Bonus System Abolition

For

Against

5 Approve Compensation Ceiling for Directors

For

For

6 Approve Equity Compensation Plan

For

Against

Concerns about linkage between pay and performance Concerns about reporting and performance

For

Against

2a Elect Yuan Yabin as Director

1 Accept Financial Statements and Statutory Reports

For

For

2b Elect Lam Yat Ming Eddie as Director

For

For

2c Elect Wang Xiong as Director

For

For

2d Elect Si Haijian as Director

For

For

2e Elect Huang Songchun as Director

For

For

2f Elect Xu Xiaohua as Director

For

For

2g Elect Zhang Bin as Director

For

For

2h Authorize Board to Fix Remuneration of Directors

For

For

3 Approve Ernst & Young as Auditor and Authorize Board to Fix Their Remuneration

For

For

4 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against For

5 Authorize Repurchase of Issued Share Capital

For

6 Authorize Reissuance of Repurchased Shares

For

Against

7 Amend Bye-Laws of the Company

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 17.5

For

For

2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Remove All Provisions on Advisory Positions

For

For

For

For

3.1 Elect Director Sumi, Kazuo

131

Mgmt Rec

Concerns about linkage between pay and performance

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3.2 Elect Director Sugiyama, Takehiro

Han's Laser Technology Industry Group Co., Ltd.

28/06/2017 China

Special

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3.3 Elect Director Inoue, Noriyuki

For

For

3.4 Elect Director Mori, Shosuke

For

For

3.5 Elect Director Shimatani, Yoshishige

For

For

3.6 Elect Director Fujiwara, Takaoki

For

For

3.7 Elect Director Nakagawa, Yoshihiro

For

For

3.8 Elect Director Shin, Masao

For

For

3.9 Elect Director Araki, Naoya

For

For

4.1 Appoint Statutory Auditor Ishibashi, Masayoshi

For

For

4.2 Appoint Statutory Auditor Komiyama, Michiari

For

For

For

For

1 Approve Company's Eligibility for Public Issuance of Convertible Bonds APPROVE PUBLIC ISSUANCE OF CONVERTIBLE BONDS

132

2.01 Approve Issue Type

For

For

2.02 Approve Issue Size

For

For

2.03 Approve Par Value and Issue Price

For

For

2.04 Approve Duration Period

For

For

2.05 Approve Par Interest Rate

For

For

2.06 Approve Method and Term for the Repayment of Principal and Interest

For

For

2.07 Approve Conversion Period

For

For

2.08 Approve Method on Handling Fractional Shares Upon Conversion

For

For

2.09 Approve Determination and Adjustment of Conversion Price

For

For

2.10 Approve Terms for Downward Adjustment of Conversion Price

For

For

2.11 Approve Terms of Redemption

For

For

2.12 Approve Terms of Sell-Back

For

For

2.13 Approve Attribution of Annual Dividend

For

For

2.14 Approve Issue Manner and Target Subscribers

For

For

2.15 Approve Placing Arrangement for Shareholders

For

For

2.16 Approve Matters Relating to Meetings of Bond Holders

For

For

2.17 Approve Use of Proceeds

For

For

2.18 Approve Guarantee Provision

For

For

2.19 Approve Management and Storage Account of Proceeds

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3 Approve Plan on Issuance of Convertible Bonds

For

For

4 Approve Feasibility Analysis Report on the Use of Proceeds

For

For

5 Approve Undertakings of Remedial Measures by the Relevant Parties in Relation to the Dilution of Current Returns as a Result of the Convertible Bonds Issuance

For

For

6 Approve Principles Relating to Meetings of Bond Holders

For

For

7 Approve No Need for Report on the Usage of Previously Raised Funds

For

For

8 Approve Shareholder Return Plan in the Next Three Years

For

For

9 Approve Authorization of Board to Handle All Related Matters

For

For

10 Approve Participating in New Energy Industrial Funds as well as Related Party Transaction

For

For

11.01 Elect Liu Ning as Independent Director

None

For

11.02 Elect Xie Jiawei as Independent Director

2.20 Approve Resolution Validity Period

ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

Hansteen Holdings PLC

133

13/06/2017 United Kingdom

Annual

None

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Re-elect Ian Watson as Director

For

For

5 Re-elect Morgan Jones as Director

For

For

6 Re-elect Rick Lowes as Director

For

For

7 Re-elect Melvyn Egglenton as Director

For

For

8 Re-elect Rebecca Worthington as Director

For

For

9 Re-elect David Rough as Director

For

For

10 Re-elect Margaret Young as Director

For

For

11 Reappoint Deloitte LLP as Auditors

For

For

12 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

17 Authorise Market Purchase of Ordinary Shares

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 18 Authorise the Company to Call General Meeting with Two Weeks' Notice

Harmonic Drive Systems Inc.

HEIAN CEREMONY SERVICE CO. LTD.

14/06/2017 Japan

27/06/2017 Japan

Annual

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 10

Hellenic Telecommunications Organization SA

20/06/2017 Greece

Annual

134

For

For

For

For

For

For

For

2.3 Elect Director Yasue, Hideo

For

For

2.4 Elect Director Maruyama, Akira

For

For

2.5 Elect Director Ito, Yoshimasa

For

For

2.6 Elect Director Yoshida, Haruhiko

For

For

2.7 Elect Director Sakai, Shinji

For

For

2.8 Elect Director Nakamura, Masanobu

For

For

3 Appoint Statutory Auditor Fukuda, Yoshio

For

For

4 Approve Annual Bonus

For

For

5 Approve Compensation Ceiling for Statutory Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 12

For

For

For

For

2.2 Elect Director Yamada, Akihiro

For

For

2.3 Elect Director Hirai, Yoshiya

For

For

2.4 Elect Director Tsuchiya, Hirohiko

For

For

2.5 Elect Director Kuwahara, Shingo

For

For

2.6 Elect Director Fujita, Kazushige

For

For

3 Appoint Statutory Auditor Ishii, Tadashi

Annual

For

2.1 Elect Director Ito, Mitsumasa

For

For

For

For

For

For

1 Approve Financial Statements and Income Allocation

For

For

2 Approve Discharge of Board and Auditors

For

For

2.1 Elect Director Soma, Hideyuki 29/06/2017 Japan

Vote Instruction Voter Rationale

2.2 Elect Director Nagai, Akira

2.1 Elect Director Soma, Hideyuki

Heiwa Corp.

Mgmt Rec

1 Approve Allocation of Income, with a Final Dividend of JPY 40

Holding executives accountable for ongoing poor returns

Holding executives accountable for ongoing poor returns

Annual Meeting Agenda

3 Ratify Auditors

For

Against

Concerns about auditor independence

4 Approve Director Remuneration

For

Against

Concerns about linkage between pay and performance

5 Approve Director Liability Contracts

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 6 Amend Corporate Purpose

Mgmt Rec

Vote Instruction Voter Rationale

For

For

7 Various Announcements Hemas Holdings PLC

30/06/2017 Sri Lanka

Special

1 Approve Extension of Allocation of Proceeds from Rights Issue

For

For

Hemas Holdings PLC

30/06/2017 Sri Lanka

Annual

1 Accept Financial Statements and Statutory Reports

For

For

2 Reelect A.N. Esufally as Director

For

For

3 Reelect M.A.N. Esufally as Director

For

For

4 Reelect W.M. De F. Arsakularatne as Director

For

For

5 Reelect Ramabadran Gopalakrishnan as Director

For

For

6 Approve Final Dividend

For

For

7 Approve Ernst and Young as Auditors and Authorize Board to Fix their Remuneration

For

For

8 Approve Charitable Donations

For

Against

1 Authorise Issue of Equity in Connection with the Scheme of Reconstruction and Winding Up

For

For

2 Authorise Issue of Equity Pursuant to the Share Issuance Programme

For

For

3 Authorise Issue of Equity without Pre-emptive Rights Pursuant to the Share Issuance Programme

For

For

1 Accept Financial Statements and Statutory Reports

For

For

Henderson High Income Trust plc

Henderson Land Development Co. Ltd.

20/06/2017 United Kingdom

05/06/2017 Hong Kong

Special

Annual

2 Approve Final Dividend

For

For

3A1 Elect Lee Ka Kit as Director

For

Against

Concerns about overall board structure

3A2 Elect Lee Ka Shing as Director

For

Against

Concerns about overall board structure

3A3 Elect Suen Kwok Lam as Director

For

Against

Concerns about overall board structure

3A4 Elect Fung Lee Woon King as Director

For

Against

Concerns about overall board structure

3A5 Elect Lau Yum Chuen, Eddie as Director

For

Against

Concerns about overall board structure

3A6 Elect Lee Pui Ling, Angelina as Director

For

Against

Concerns about overall board structure

3A7 Elect Wu King Cheong as Director

For

For

For

For

For

For

5A Approve Issuance of Bonus Shares

For

For

5B Authorize Repurchase of Issued Share Capital

For

For

5C Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

3B Authorize Board to Fix Remuneration of Directors, Remuneration Committee and Nomination Committee 4 Approve KPMG as Auditors and Authorize Board to Fix Their Remuneration

135

Substance of resolution unclear at time of voting

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Discharge of General Managers

For

For

4 Approve Allocation of Income and Dividends of EUR 3.75 per Share

For

For

5D Authorize Reissuance of Repurchased Shares Hermes International

06/06/2017 France

Annual/ Special

Concerns to protect shareholder interests

Ordinary Business

5 Approve Auditors' Special Report on Related-Party Transactions and For Acknowledge the Absence of New Transactions

Against

Concerns to protect shareholder interests

6 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

7 Non-Binding Vote on Compensation of Axel Dumas, General Manager

For

Against

Concerns about linkage between pay and performance

8 Non-Binding Vote on Compensation of Emile Hermes SARL, General Manager

For

Against

Concerns about linkage between pay and performance

9 Reelect Monique Cohen as Supervisory Board Member

For

For

10 Reelect Renaud Mommeja as Supervisory Board Member

For

Against

Concerns about overall board structure

11 Reelect Eric de Seynes as Supervisory Board Member

For

Against

Concerns about overall board structure

12 Elect Dorothee Altmayer as Supervisory Board Member

For

Against

Concerns about overall board structure

13 Elect Olympia Guerrand as Supervisory Board Member

For

Against

Concerns about overall board structure

14 Approve Remuneration of Supervisory Board Members in the Aggregate Amount of EUR 600,000

For

For

15 Renew Appointment of PricewaterhouseCoopers Audit as Auditor

For

For

16 Renew Appointment of Didier Kling et Associes as Auditor

For

For

17 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

18 Authorize Capitalization of Reserves of up to 40 Percent of Issued Capital for Bonus Issue or Increase in Par Value

For

For

19 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to 40 Percent of Issued Capital, Including in the Event of a Public Tender Offer

For

Against

Proposal risks entrenching management

20 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to 40 Percent of Issued Capital, Including in the Event of a Public Tender Offer

For

Against

Proposal risks entrenching management

21 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

Extraordinary Business

136

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Hermes Investment Funds Plc - Hermes 01/06/2017 Ireland US SMID Equity Fund

Hess Corporation

Highwealth Construction Corp

137

07/06/2017 USA

13/06/2017 Taiwan

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

22 Approve Issuance of Equity or Equity-Linked Securities up to 20 Percent of Issued Capital Per Year for Private Placements, Including in the Event of a Public Tender Offer

For

Against

23 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind, Including in the Event of a Public Tender Offer

For

For

24 Authorize Filing of Required Documents/Other Formalities

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Review the Company's Affairs

For

For

3 Ratify Deloitte as Auditors

For

For

4 Authorise Board to Fix Remuneration of Auditors

For

For

1.1 Elect Director Rodney F. Chase

For

For

1.2 Elect Director Terrence J. Checki

For

For

1.3 Elect Director Leonard S. Coleman, Jr.

For

For

1.4 Elect Director John B. Hess

For

For

1.5 Elect Director Edith E. Holiday

For

Against

1.6 Elect Director Risa Lavizzo-Mourey

For

For

1.7 Elect Director Marc S. Lipschultz

For

For

1.8 Elect Director David McManus

For

For

1.9 Elect Director Kevin O. Meyers

For

For

1.10 Elect Director James H. Quigley

For

For

1.11 Elect Director Fredric G. Reynolds

For

For

1.12 Elect Director William G. Schrader

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Proposal risks entrenching management

Concerns about overall board structure

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Ernst & Young LLP as Auditors

For

For

5 Approve Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

6 Report on Plans to Address Stranded Carbon Asset Risks

Against

For

Proposal encourages enhanced environmental approach

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Amendments to Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Amend Procedures for Endorsement and Guarantees

For

For

7 Amend Procedures for Lending Funds to Other Parties

For

For

8 Amend Rules and Procedures for Election of Directors and Supervisors

For

For

9 Amend Rules and Procedures Regarding Shareholder's General Meeting

For

For

10.1 Elect Zheng Qin Tian with Shareholder No. 21685 as Non-Independent Director

For

For

10.2 Elect Zheng Xiu Hui with Shareholder No. 25031 as Non-Independent Director

For

For

10.3 Elect Zheng Zhi Long, a Representative of Li Shuo Investment Co., Ltd with Shareholder No. 24842 as Non-Independent Director

For

For

10.4 Elect Fan Hua Jun, a Representative of Li Shuo Investment Co., Ltd with Shareholder No. 24842 as Non-Independent Director

For

For

10.5 Elect Hong Xi Yao with ID No. M100685XXX as Independent Director

For

For

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

Hikari Tsushin Inc

23/06/2017 Japan

Annual

10.6 Elect Yan Yun Qi with ID No. G120842XXX as Independent Director For

For

10.7 Elect Li Wen Cheng with ID No. A101359XXX as Independent Director

For

For

11 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

For

1 Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Amend Provisions on Number of Directors - Authorize Directors to Execute Day to Day Operations without Full Board Approval

For

For

For

For

2.1 Elect Director Shigeta, Yasumitsu

138

2.2 Elect Director Tamamura, Takeshi

For

For

2.3 Elect Director Wada, Hideaki

For

For

2.4 Elect Director Gido, Ko

For

For

3.1 Elect Director and Audit Committee Member Watanabe, Masataka

For

For

3.2 Elect Director and Audit Committee Member Takano, Ichiro

For

For

3.3 Elect Director and Audit Committee Member Niimura, Ken

For

Against

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Hindustan Unilever Limited.

Hino Motors Ltd.

Meeting Date Country

30/06/2017 India

27/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

5 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

6 Approve Statutory Auditor Retirement Bonus

For

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Interim Dividend and Final Dividend

For

For

3 Reelect Harish Manwani as Director

For

For

4 Reelect Pradeep Banerjee as Director

For

For

5 Reelect P. B. Balaji as Director

For

For

6 Approve BSR & Co. LLP, Chartered Accountants, Mumbai as Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Approve Managerial Remuneration

For

Abstain

8 Elect Dev Bajpai as Director and Approve Appointment and Remuneration of Dev Bajpai as Executive Director

For

For

9 Approve Remuneration of Cost Auditors

For

For

7 Approve Managerial Remuneration

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 15

For

For

2.1 Elect Director Ichihashi, Yasuhiko

For

Against

Concerns about overall board structure

For

Against

Concerns about overall board structure

2.3 Elect Director Mori, Satoru

For

For

2.4 Elect Director Kokaji, Hiroshi

For

For

2.5 Elect Director Muta, Hirofumi

For

For

2.6 Elect Director Endo, Shin

For

For

2.7 Elect Director Kajikawa, Hiroshi

For

For

2.8 Elect Director Nakane, Taketo

For

For

2.9 Elect Director Hagiwara, Toshitaka

For

For

For

For

2.11 Elect Director Terashi, Shigeki

139

27/06/2017 Japan

Annual

Substance of resolution unclear at time of voting

2.2 Elect Director Shimo, Yoshio

2.10 Elect Director Yoshida, Motokazu

Hirose Electric Co. Ltd.

Concerns about independence

For

For

3.1 Appoint Statutory Auditor Kitamura, Keiko

For

For

3.2 Appoint Statutory Auditor Nakajima, Masahiro

For

For

4 Appoint Alternate Statutory Auditor Kitahara, Yoshiaki

For

Against

5 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 120

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2 Amend Articles to Reduce Directors' Term 3.1 Elect Director Ishii, Kazunori

Hiroshima Bank Ltd.

Hitachi Chemical Co. Ltd.

140

28/06/2017 Japan

23/06/2017 Japan

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

3.2 Elect Director Nakamura, Mitsuo

For

For

3.3 Elect Director Kondo, Makoto

For

For

3.4 Elect Director Iizuka, Kazuyuki

For

For

3.5 Elect Director Okano, Hiroaki

For

For

3.6 Elect Director Kiriya, Yukio

For

For

3.7 Elect Director Hotta, Kensuke

For

For

3.8 Elect Director Motonaga, Tetsuji

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Approve Allocation of Income, With a Final Dividend of JPY 5.5

3.1 Elect Director Sumihiro, Isao

For

For

3.2 Elect Director Ikeda, Koji

For

For

3.3 Elect Director Hirota, Toru

For

For

3.4 Elect Director Miyoshi, Kichiso

For

For

3.5 Elect Director Yoshino, Yuji

For

For

3.6 Elect Director Heya, Toshio

For

For

3.7 Elect Director Araki, Yuzo

For

For

3.8 Elect Director Sumikawa, Masahiro

For

For

3.9 Elect Director Maeda, Kaori

For

For

3.10 Elect Director Miura, Satoshi

For

For

4 Appoint Statutory Auditor Katayama, Hitoshi

For

For

5 Approve Trust-Type Equity Compensation Plan

For

For

For

For

1.1 Elect Director Tanaka, Kazuyuki 1.2 Elect Director Oto, Takemoto

For

For

1.3 Elect Director George Olcott

For

For

1.4 Elect Director Richard Dyck

For

For

1.5 Elect Director Matsuda, Chieko

For

For

1.6 Elect Director Azuhata, Shigeru

For

For

1.7 Elect Director Nomura, Yoshihiro

For

For

1.8 Elect Director Maruyama, Hisashi

For

For

1.9 Elect Director Sarumaru, Masayuki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Hitachi Construction Machinery Co. Ltd. 26/06/2017 Japan

Hitachi High-Technologies Corp.

Hitachi Ltd.

23/06/2017 Japan

21/06/2017 Japan

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.10 Elect Director Omori, Shinichiro

For

For

1.11 Elect Director Kitamatsu, Yoshihito

For

For

1.1 Elect Director Okuhara, Kazushige

For

For

1.2 Elect Director Toyama, Haruyuki

For

For

1.3 Elect Director Hirakawa, Junko

For

For

1.4 Elect Director Ishizuka, Tatsuro

For

For

1.5 Elect Director Okada, Osamu

For

For

1.6 Elect Director Katsurayama, Tetsuo

For

For

1.7 Elect Director Saito, Yutaka

For

For

1.8 Elect Director Sumioka, Koji

For

For

1.9 Elect Director Hirano, Kotaro

For

For

1.10 Elect Director Fujii, Hirotoyo

For

For

1.1 Elect Director Nakamura, Toyoaki

For

Against

Concerns about overall board structure

1.2 Elect Director Miyazaki, Masahiro

For

Against

Concerns about overall board structure

1.3 Elect Director Nakashima, Ryuichi

For

For

1.4 Elect Director Kitayama, Ryuichi

For

For

1.5 Elect Director Hayakawa, Hideyo

For

Against

Concerns about overall board structure

1.6 Elect Director Toda, Hiromichi

For

Against

Concerns about overall board structure

1.7 Elect Director Nishimi, Yuji

For

Against

Concerns about overall board structure

1.8 Elect Director Tamura, Mayumi

For

For

1.1 Elect Director Baba Kalyani

For

For

1.2 Elect Director Cynthia Carroll

For

For

1.3 Elect Director Sakakibara, Sadayuki

For

For

1.4 Elect Director George Buckley

For

For

1.5 Elect Director Louise Pentland

For

For

1.6 Elect Director Mochizuki, Harufumi

For

For

1.7 Elect Director Yamamoto, Takatoshi

For

For

1.8 Elect Director Philip Yeo

For

For

1.9 Elect Director Yoshihara, Hiroaki 1.10 Elect Director Tanaka, Kazuyuki

141

For

For

For

For

1.11 Elect Director Nakanishi, Hiroaki

For

For

1.12 Elect Director Nakamura, Toyoaki

For

For

1.13 Elect Director Higashihara, Toshiaki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Hitachi Metals Ltd.

Hokuriku Electric Power

Meeting Date Country 27/06/2017 Japan

28/06/2017 Japan

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.1 Elect Director Takahashi, Hideaki

For

For

1.2 Elect Director Igarashi, Masaru

For

Against

1.3 Elect Director Oka, Toshiko

For

For

1.4 Elect Director Shimada, Takashi

For

For

1.5 Elect Director Kamata, Junichi

For

For

1.6 Elect Director Nakamura, Toyoaki

For

For

1.7 Elect Director Hasunuma, Toshitake

For

For

1.8 Elect Director Hiraki, Akitoshi

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 10 2.1 Elect Director Ataka, Tateki

For

For

2.2 Elect Director Ishiguro, Nobuhiko

For

For

2.3 Elect Director Ojima, Shiro

For

For

2.4 Elect Director Kanai, Yutaka

For

Against

2.5 Elect Director Kawada, Tatsuo

For

For

2.6 Elect Director Kyuwa, Susumu

For

Against

2.7 Elect Director Sugawa, Motonobu

For

For

2.8 Elect Director Sono, Hiroaki

For

For

2.9 Elect Director Takagi, Shigeo 2.10 Elect Director Takabayashi, Yukihiro

Hon Hai Precision Industry Co., Ltd.

142

22/06/2017 Taiwan

Annual

For

For

For

For

Concerns about overall board structure

Holding executives accountable for ongoing poor returns Holding executives accountable for ongoing poor returns

2.11 Elect Director Mizuno, Koichi

For

For

2.12 Elect Director Yano, Shigeru

For

For

3 Amend Articles to Ban Nuclear Power Plant Operations

Against

Against

4 Amend Articles to Fundamentally Review Nuclear Fuel Procurement Plans

Against

Against

5 Amend Articles to Add Provisions on Safety Storage of Spent Nuclear Fuels

Against

Against

6 Amend Articles to Change Provisions on Indemnification

Against

Against

7 Amend Articles to Change Provisions on Senior Advisers

Against

For

Proposal enhances independence

8 Amend Articles to Require Disclosure of Compensation for Directors, Statutory Auditors and Senior Advisers

Against

For

Proposal enhances transparency

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3 Amend Procedures Governing the Acquisition or Disposal of Assets

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

Meeting for GDR Holders 3.1 Approve Business Operations Report and Financial Statements

Honda Motor Co. Ltd.

Hostelworld Group Plc

143

15/06/2017 Japan

01/06/2017 United Kingdom

Annual

Annual

3.2 Approve Plan on Profit Distribution

For

For

3.3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 24

For

For

2 Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Amend Provisions on Number of Directors - Authorize Directors to Execute Day to Day Operations without Full Board Approval

For

For

3.1 Elect Director Hachigo, Takahiro

For

For

3.2 Elect Director Kuraishi, Seiji

For

For

3.3 Elect Director Matsumoto, Yoshiyuki

For

For

3.4 Elect Director Mikoshiba, Toshiaki

For

For

3.5 Elect Director Yamane, Yoshi

For

For

3.6 Elect Director Takeuchi, Kohei

For

For

3.7 Elect Director Kunii, Hideko

For

For

3.8 Elect Director Ozaki, Motoki

For

For

3.9 Elect Director Ito, Takanobu

For

For

4.1 Elect Director and Audit Committee Member Yoshida, Masahiro

For

For

4.2 Elect Director and Audit Committee Member Suzuki, Masafumi

For

For

4.3 Elect Director and Audit Committee Member Hiwatari, Toshiaki

For

For

4.4 Elect Director and Audit Committee Member Takaura, Hideo

For

For

4.5 Elect Director and Audit Committee Member Tamura, Mayumi

For

For

5 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

6 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Approve Final Dividend

For

For

4 Approve Supplementary Dividend

For

For

5 Re-elect Feargal Mooney as Director

For

For

6 Re-elect Mari Hurley as Director

For

For

7 Re-elect Richard Segal as Director

For

Against

Concerns of linkage between pay and performance

Concerns about overall board structure aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Hoya Corp.

HTC Corporation

Hua Nan Financial Holdings Co., Ltd.

Huadian Power International Corporation Ltd.

Meeting Date Country

21/06/2017 Japan

15/06/2017 Taiwan

28/06/2017 Taiwan

30/06/2017 China

Meeting Type

Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Re-elect Michael Cawley as Director

For

For

9 Re-elect Andy McCue as Director

For

For

10 Reappoint Deloitte as Auditors

For

For

11 Authorise Board to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

15 Authorise Market Purchase of Ordinary Shares

For

For

16 Approve Save As You Earn Plan

For

For

17 Authorise EU Political Donations and Expenditure

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Koeda, Itaru

For

For

1.2 Elect Director Uchinaga, Yukako

For

For

1.3 Elect Director Urano, Mitsudo

For

For

1.4 Elect Director Takasu, Takeo

For

For

1.5 Elect Director Kaihori, Shuzo

For

For

1.6 Elect Director Suzuki, Hiroshi

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Statement of Profit and Loss Appropriation

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Other Business

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

For

Against

Concerns to protect shareholder interests Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H SHARES 1 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

144

Substance of resolution unclear at time of voting

2 Approve Issuance of Debt Financing Instruments

For

Against

3 Amend Articles of Association

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Report of the Board

For

For

5 Approve Report of the Supervisory Committee

For

For

6 Approve Audited Financial Report

For

For

For

For

8.1 Approve Deloitte Touche Tohmatsu Certified Public Accountants and Deloitte Touche Tohmatsu Certified Public Accountants LLP as International and Domestic Auditors and Authorize Board to Fix Their Remuneration

7 Approve Profit Distribution Proposal

For

For

8.2 Approve Deloitte Touche Tohmatsu Certified Public Accountants LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration

For

For

9 Approve Performance Report of the Independent Non-Executive Directors

For

For

10 Approve Remuneration of Directors and Supervisors

For

For

11 Approve Revision of the Finance Lease Framework Agreement and Related Transactions

For

For

12.1 Elect Zhao Jianguo as Director and Authorize Board to Fix His Remuneration

For

For

12.2 Elect Chen Bin as Director and Authorize Board to Fix His Remuneration

For

For

12.3 Elect Wang Yingli as Director and Authorize Board to Fix Her Remuneration

For

For

12.4 Elect Tian Hongbao as Director and Authorize Board to Fix His Remuneration

For

For

12.5 Elect Gou Wei as Director and Authorize Board to Fix His Remuneration

For

For

12.6 Elect Chu Yu as Director and Authorize Board to Fix His Remuneration

For

For

12.7 Elect Zhang Ke as Director and Authorize Board to Fix His Remuneration

For

For

13.1 Elect Ding Huiping as Director and Authorize Board to Fix His Remuneration

For

For

13.2 Elect Wang Dashu as Director and Authorize Board to Fix His Remuneration

For

For

ELECT DIRECTORS VIA CUMULATIVE VOTING

ELECT INDEPENDENT NON-EXECUTIVE DIRECTORS VIA CUMULATIVE VOTING

145

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

13.3 Elect Wang Chuanshun as Director and Authorize Board to Fix His Remuneration

For

For

13.4 Elect Zong Wenlong as Director and Authorize Board to Fix His Remuneration

For

For

ELECT SUPERVISORS VIA CUMULATIVE VOTING

Huaneng Power International, Inc.

13/06/2017 China

Annual

14.1 Elect Li Xiaopeng as Supervisor

For

For

14.2 Elect Peng Xingyu as Supervisor

For

For

14.3 Elect Zha Jianqiu as Supervisor

For

For

1 Approve 2016 Work Report of Board of Directors

For

For

2 Approve 2016 Work Report of Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve KPMG Huazhen LLP as Domestic Auditors and KPMG as Hong Kong Auditors

For

For

6 Approve Issuance of Short-Term Debentures

For

For

7 Approve Issuance of Super Short-Term Debentures

For

For

8 Approve Issuance of Debt Financing Instrument by Way of Non-Public Placement

For

For

9 Approve Issuance of Domestic and/or Overseas Debt Financing Instruments

For

For

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

AGM BALLOT FOR HOLDERS OF H SHARES

Concerns to protect shareholder interests

ELECT DIRECTORS

146

11.01 Elect Cao Peixi as Director

For

For

11.02 Elect Guo Junming as Director

For

For

11.03 Elect Liu Guoyue as Director

For

For

11.04 Elect Fan Xiaxia as Director

For

For

11.05 Elect Huang Jian as Director

For

For

11.06 Elect Wang Yongxiang as Director

For

For

11.07 Elect Mi Dabin as Director

For

For

11.08 Elect Guo Hongbo as Director

For

For

11.09 Elect Cheng Heng as Director

For

For

11.10 Elect Lin Chong as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 11.11 Elect Yue Heng as Director

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

11.12 Elect Geng Jianxin as Director 11.13 Elect Xu Mengzhou as Director 11.14 Elect Liu Jizhen as Director

For

For

11.15 Elect Xu Haifeng as Director

For

For

11.16 Elect Zhang Xianzhi as Director

For

For

For

For

ELECT SUPERVISORY COMMITTEE 12.01 Elect Ye Xiangdong as Supervisor

ICG Enterprise Trust PLC

ICICI Bank Limited

147

13/06/2017 United Kingdom

12/06/2017 India

Annual

Special

12.02 Elect Mu Xuan as Supervisor

For

For

12.03 Elect Zhang Mengjiao as Supervisor

For

For

12.04 Elect Gu Jianguo as Supervisor

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Re-elect Peter Dicks as Director

For

Against

4 Re-elect Jeremy Tigue as Director

For

For

5 Re-elect Sandra Pajarola as Director

For

For

6 Re-elect Lucinda Riches as Director

For

For

7 Re-elect Andy Pomfret as Director

For

For

8 Reappoint PricewaterhouseCoopers LLP as Auditors and Authorise Their Remuneration

For

For

9 Approve Remuneration Report

For

For

10 Approve Remuneration Policy

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

14 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

15 Approve Increase in the Aggregate Limit of Fees Payable to Directors

For

For

1 Increase Authorized Share Capital and Amend Memorandum of Association

For

For

2 Amend Articles of Association to Reflect Changes in Capital

For

For

3 Approve Issuance of Bonus Shares

For

For

Concerns about overall board structure

Postal Ballot

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name ICICI Bank Limited

Idea Cellular Ltd

Idemitsu Kosan Co., Ltd.

148

Meeting Date Country 30/06/2017 India

30/06/2017 India

29/06/2017 Japan

Meeting Type Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Amend Employee Stock Option Scheme

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividends on Preference Shares

For

For

3 Approve Dividends on Equity Shares

For

For

4 Reelect Vishakha Mulye as Director

For

For

5 Approve B S R & Co. LLP, Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Approve Branch Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Reelect Anup Bagchi as Director

For

For

8 Approve Appointment and Remuneration of Anup Bagchi as Wholetime Director

For

For

9 Approve Issuance of Non-Convertible Securities and NonConvertible Debentures on Private Placement Basis

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Reelect Rajashree Birla as Director

For

Against

Concerns about overall board structure

3 Reelect Shridhir Sariputta Hansa Wijayasuriya as Director

For

Against

Concerns about overall board structure

4 Approve S.R. Batliboi & Associates LLP, Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Remuneration of Cost Auditors

For

For

6 Authorize Issuance of Non-Convertible Securities on Private Placement Basis

For

For

7 Approve Material Related Party Transaction with Indus Towers Limited

For

For

8 Elect Alka Marezban Bharucha as Director

For

For

9 Elect Baldev Raj Gupta as Director

For

For

10 Approve Waiver of Recovery of Excess Managerial Remuneration to Himanshu Kapania

For

Against

Concerns about linkage between pay and performance

11 Approve Remuneration of Himanshu Kapania as Executive Director

For

Against

Concerns about linkage between pay and performance

12 Approve Remuneration of Akshaya Moondra as Wholetime Director For and Chief Financial Officer

For For

13 Amend Articles of Association

For

1.1 Elect Director Tsukioka, Takashi

For

For

1.2 Elect Director Seki, Daisuke

For

For

1.3 Elect Director Matsushita, Takashi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.4 Elect Director Kito, Shunichi

23/06/2017 Japan

Annual

149

27/06/2017 Japan

Annual

For

For

1.5 Elect Director Nibuya, Susumu

For

For

For

For

1.7 Elect Director Sagishima, Toshiaki

For

For

1.8 Elect Director Homma, Kiyoshi

For

For

1.9 Elect Director Yokota, Eri

For

For

1.10 Elect Director Ito, Ryosuke

For

For

1.11 Elect Director Kikkawa, Takeo

For

For

1.12 Elect Director Mackenzie Clugston

For

For

For

For

For

For

1.1 Elect Director Saito, Tamotsu 1.2 Elect Director Mitsuoka, Tsugio

For

For

1.3 Elect Director Sekido, Toshinori

For

For

1.4 Elect Director Terai, Ichiro

For

For

1.5 Elect Director Otani, Hiroyuki

For

For

1.6 Elect Director Mochizuki, Mikio

For

For

1.7 Elect Director Shikina, Tomoharu

For

For

1.8 Elect Director Kuwata, Atsushi

For

For

1.9 Elect Director Fujiwara, Taketsugu

For

For

1.10 Elect Director Kimura, Hiroshi

For

For

1.11 Elect Director Yamada, Takeshi

For

For

1.12 Elect Director Awai, Kazuki

For

For

1.13 Elect Director Ishimura, Kazuhiko

For

For

1.14 Elect Director Tanaka, Yayoi

Iida Group Holdings Co., Ltd.

Vote Instruction Voter Rationale

1.6 Elect Director Maruyama, Kazuo

2 Appoint Alternate Statutory Auditor Kai, Junko IHI Corporation

Mgmt Rec

For

For

2.1 Appoint Statutory Auditor Suga, Taizo

For

For

2.2 Appoint Statutory Auditor Yatsu, Tomomi

For

For

3 Approve Compensation Ceiling for Directors

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

5 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Connection with Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 31

For

For

2.1 Elect Director Mori, Kazuhiko

For

For

2.2 Elect Director Nishikawa, Yoichi

For

For

2.3 Elect Director Yamamoto, Shigeo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Hisabayashi, Yoshinari

For

For

2.5 Elect Director Horiguchi, Tadayoshi

For

For

2.6 Elect Director Kanei, Masashi

For

For

2.7 Elect Director Nishino, Hiroshi

For

For

2.8 Elect Director Matsubayashi, Shigeyuki

For

For

2.9 Elect Director Kodera, Kazuhiro

For

For

2.10 Elect Director Asano, Masahiro

For

For

2.11 Elect Director Sasaki, Toshihiko 3.1 Appoint Statutory Auditor Ishimaru, Ikuko

27/06/2017 China

Annual

3.2 Appoint Statutory Auditor Hayashi, Chiharu

For

For

For

For

For

For

1 Approve 2016 Work Report of the Board of Directors

For

For

2 Approve 2016 Work Report of the Board of Supervisors

For

For

3 Approve 2016 Audited Accounts

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Fixed Asset Investment Budget

For

For

6 Approve KPMG Huazhen LLP as the Domestic External Auditor and KPMG as the International External Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Elect Ye Donghai as Director

For

For

8 Elect Mei Yingchun as Director

For

For

9 Elect Dong Shi as Director

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

10 Amend Articles of Association Infosys Ltd.

24/06/2017 India

Annual

For For

3.3 Appoint Statutory Auditor Tanaka, Chikara 4 Approve Compensation Ceiling for Statutory Auditors Industrial and Commercial Bank of China Limited

For For

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Confirm Interim Dividend and Declare Final Dividend

For

For

3 Reelect U. B. Pravin Rao as Director

For

For

4 Approve Deloitte Haskins & Sells LLP, Chartered Accountants as Statutory Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Branch Auditors and Authorize Board to Fix Their Remuneration

For

For

Meeting for ADR Holders

150

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Ingersoll-Rand Plc

Innolux Corp

151

Meeting Date Country

08/06/2017 Ireland

20/06/2017 Taiwan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Accept Financial Statements and Statutory Reports

For

For

2 Confirm Interim Dividend and Declare Final Dividend

For

For

3 Reelect U. B. Pravin Rao as Director

For

For

4 Approve Deloitte Haskins & Sells LLP, Chartered Accountants as Statutory Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Branch Auditors and Authorize Board to Fix Their Remuneration

For

For

1a Elect Director Ann C. Berzin

For

For

1b Elect Director John Bruton

For

For

1c Elect Director Jared L. Cohon

For

For

1d Elect Director Gary D. Forsee

For

For

1e Elect Director Linda P. Hudson

For

For

1f Elect Director Michael W. Lamach

For

For

1g Elect Director Myles P. Lee

For

For

1h Elect Director John P. Surma

For

For

1i Elect Director Richard J. Swift

For

Against

1j Elect Director Tony L. White

For

Against

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration

For

Against

Concerns about auditor independence Concerns to protect shareholder interests

5 Renew Directors' Authority to Issue Shares

For

Against

6 Renew Directors' Authority to Issue Shares for Cash

For

For

7 Authorize Reissuance of Repurchased Shares

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Issuance of Domestic Ordinary Shares or Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt

For

For

6 Approve Issuance of Ordinary Shares or Preferred Shares via Private For Placement or Issuance of Foreign or Domestic Convertible Bonds via Private Placement

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Inpex Corporation

Meeting Date Country 27/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text 1 Approve Allocation of Income, with a Final Dividend of JPY 9 2.1 Elect Director Kitamura, Toshiaki

Insight Liquidity Funds plc- ILF GBP Liquidity Fund

Intage Holdings Inc.

07/06/2017 Ireland

27/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

For

For

Against

2.2 Elect Director Sano, Masaharu

For

For

2.3 Elect Director Murayama, Masahiro

For

For

2.4 Elect Director Ito, Seiya

For

For

2.5 Elect Director Sugaya, Shunichiro

For

For

2.6 Elect Director Ikeda, Takahiko

For

For

2.7 Elect Director Kurasawa, Yoshikazu

For

For

2.8 Elect Director Kittaka, Kimihisa

For

For

2.9 Elect Director Sase, Nobuharu

For

For

2.10 Elect Director Okada, Yasuhiko

For

For

2.11 Elect Director Sato, Hiroshi

For

For

2.12 Elect Director Matsushita, Isao

For

For

2.13 Elect Director Yanai, Jun

For

For

2.14 Elect Director Iio, Norinao

For

For

2.15 Elect Director Nishimura, Atsuko

For

For

3 Approve Annual Bonus

For

For

4 Approve Compensation Ceilings for Directors and Statutory Auditors

For

For

1 Accept Financial Statements and Statutory Reports and Review the Company's Affairs

For

For

2 Authorise Board to Fix Remuneration of Auditors

For

For

3 Ratify KPMG as Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For

For

2.1 Elect Director Miyakubi, Kenji

For

For

2.2 Elect Director Ishizuka, Noriaki

For

For

2.3 Elect Director Ikeya, Kenji

For

For

2.4 Elect Director Nishi, Yoshiya

For

For

2.5 Elect Director Miyauchi, Kiyomi

For

For

2.6 Elect Director Kishi, Shizue

For

For

For

For

3 Elect Director and Audit Committee Member Miyama, Yuzo

152

Mgmt Rec

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Inter RAO UES PJSC

Meeting Date Country

09/06/2017 Russia

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Appoint PricewaterhouseCoopers Aarata LLC as New External Audit Firm

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

For

For

6.1 Elect Boris Ayuev as Director

None

Against

6.2 Elect Andrey Bugrov as Director

None

For

4 Approve Remuneration of Directors 5 Approve Remuneration of Members of Audit Commission Elect 11 Directors by Cumulative Voting Votes to favour our preferred candidates

6.3 Elect Anatoly Gavrilenko as Director

None

Against

Votes to favour our preferred candidates

6.4 Elect Boris Kovalchuk as Director

None

Against

Votes to favour our preferred candidates

6.5 Elect Evgeny Logovinsky as Director

None

Against

Votes to favour our preferred candidates

6.6 Elect Aleksandr Lokshin as Director

None

Against

Votes to favour our preferred candidates

6.7 Elect Andrey Murov as Director

None

Against

Votes to favour our preferred candidates

6.8 Elect Aleksey Nuzhdov as Director

None

Against

Votes to favour our preferred candidates

6.9 Elect Ronald Pollett as Director

None

For

Votes to favour our preferred candidates

None

For

Votes to favour our preferred candidates

6.12 Elect Denis Fedorov as Director

None

Against

Votes to favour our preferred candidates

6.13 Elect Dmitry Shugaev as Director

None

Against

Votes to favour our preferred candidates

For

For

6.10 Elect Elena Sapozhnikova as Director 6.11 Elect Igor Sechin as Director

Elect Five Members of Audit Commission 7.1 Elect Gennady Bukaev as Member of Audit Commission 7.2 Elect Tatyana Zaltsman as Member of Audit Commission

For

For

7.3 Elect Svetlana Kovaleva as Member of Audit Commission

For

For

7.4 Elect Igor Feoktistov as Member of Audit Commission

For

For

7.5 Elect Tatyana Fisenko as Member of Audit Commission

For

For

8 Ratify Auditor

For

For

9 Approve New Edition of Charter

For

For

For

Against

10 Approve New Edition of Regulations on Board of Directors

Concerns to protect shareholder interests

11 Approve New Edition of Regulations on Remuneration of Directors 12 Approve New Edition of Regulations on Management

153

For

For

13.1 Approve Company's Membership in Russian National Committee of For International Council on Large Electric Systems

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Consolidated and Standalone Financial Statements

For

For

2. Approve Allocation of Income

For

For

For

For

For

For

13.2 Approve Company's Membership in International Congress of Industrialists and Entrepreneurs International Consolidated Airlines Group SA

14/06/2017 Spain

Annual

2.b Approve Dividends 3 Approve Discharge of Board

International Food Retail Capital S.A.

14/06/2017 Cyprus

Annual

4.a Renew Appointment of Ernst & Young as Auditor

For

For

4.b Authorize Board to Fix Remuneration of Auditor

For

For

5.a Reelect Antonio Vazquez Romero as Director

For

Abstain

5.b Reelect William Walsh as Director

For

For

5.c Reelect Marc Bolland as Director

For

For

5.d Reelect Patrick Cescau as Director

For

For

5.e Reelect Enrique Dupuy de Lome Chavarri as Director

For

For

5.f Reelect James Lawrence as Director

For

For

5.g Reelect Maria Fernanda Mejia Campuzano as Director

For

For

5.h Reelect Kieran Poynter as Director

For

For

5.i Reelect Emilio Saracho Rodriguez de Torres as Director

For

For

5.j Reelect Dame Marjorie Scardino as Director

For

For

5.k Reelect Alberto Terol Esteban as Director

For

For

5.l Elect Nicola Shaw as Director

For

For

6 Advisory Vote on Remuneration Report

For

For

7 Authorize Share Repurchase Program

For

For

8 Authorize Increase in Capital via Issuance of Equity or Equity-Linked For Securities with Preemptive Rights

For

9 Authorize Issuance of Convertible Bonds, Debentures, Warrants, and Other Debt Securities with Preemptive Rights up to EUR 1 Billion

For

For

10 Authorize Board to Exclude Preemptive Rights in Connection with the Increase in Capital and Issuance of Convertible Debt Securities

For

For

11 Approve Reduction in Share Capital via Amortization of Treasury Shares

For

For

12 Authorize Board to Ratify and Execute Approved Resolutions

For

For

For

For

Annual Meeting Agenda 1 Accept Financial Statements

154

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

International Meal Co Alimentacao SA

International Public Partnerships Ltd

Inventec Corporation

155

Meeting Date Country

28/06/2017 Brazil

07/06/2017 Guernsey

16/06/2017 Taiwan

Meeting Type

Special

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Accept Statutory Reports

For

For

3 Approve Income Allocation

For

For

4 Approve Discharge of Board and Auditors

For

For

5 Approve Auditors

For

For

6 Ratify Dirk Barnard as Director

For

For

7 Approve Removal of Heiner Kamps Due to His Retirement

For

For

8 Approve Removal of Ronald Kers

For

For

9 Appoint Frank Richter

For

For

10 Elect Martin Goggelmann as Director

For

For

11 Other Business

For

For

1 Approve Use of Reserves for Treatment of Net Losses

For

For

2 Approve Reduction in Share Capital without Cancellation of Shares

For

For

3 Amend Article 5 to Reflect Changes in Capital

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration of Directors

For

For

3 Approve Increase in the Aggregate Remuneration of Directors

For

For

4 Re-elect Rupert Dorey as Director

For

For

5 Re-elect John Le Poidevin as Director

For

For

6 Re-elect John Stares as Director

For

For

7 Re-elect Claire Whittet as Director

For

For

8 Re-elect John Whittle as Director

For

For

9 Re-elect Giles Frost as Director

For

For

10 Note and Sanction Interim Dividends

For

For

11 Ratify Ernst & Young LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Approve Scrip Dividend

For

For

14 Authorise Market Purchase of Ordinary Shares

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Approve Amendments to Rules and Procedures Regarding Shareholder's General Meeting

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Amend Procedures for Endorsement and Guarantees

For

For

7 Amend Procedures for Lending Funds to Other Parties

For

For

8.1 Elect Yeh Kuo I with Shareholder No. 1 as Non-independent Director

For

For

8.2 Elect Lee Tsu Chin with Shareholder No. 9 as Non-independent Director

For

For

8.3 Elect Wen Shih Chin with Shareholder No. 26 as Non-independent Director

For

For

8.4 Elect Chang Ching Sung with Shareholder No. 37 as Non-independent Director

For

For

8.5 Elect Huang Kuo Chun with Shareholder No. 307 as Non-independent Director

For

For

8.6 Elect Cho Tom Hwar with Shareholder No. 157 as Non-independent Director

For

For

8.7 Elect Chang Chang Pang with ID No. N102640XXX as Independent Director

For

For

8.8 Elect Chen Ruey Long with ID No. Q100765XXX as Independent Director

For

Against

8.9 Elect Shyu Jyuo Min with ID No. F102333XXX as Independent Director

For

For

9 Approve Release of Restrictions of Competitive Activities of Directors and Representatives

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Approve Final Dividend

For

For

5 Re-elect Ian Barby as Director

For

For

ELECT NON-INDEPENDENDT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

INVESCO Perpetual UK Smaller Companies Investment Trust plc

08/06/2017 United Kingdom

Annual

6 Re-elect Richard Brooman as Director

For

Against

7 Re-elect Garth Milne as Director

For

For

8 Re-elect Christopher Fletcher as Director

For

For

9 Re-elect Jane Lewis as Director

For

For

For

For

10 Reappoint Grant Thornton UK LLP as Auditors

156

Concerns about overall board structure

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Market Purchase of Ordinary Shares

For

For

15 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

INVESCO Perpetual UK Smaller Companies Investment Trust plc

08/06/2017 United Kingdom

Special

1 Approve Market Purchase of Ordinary Shares Pursuant to the Tender Offer

For

For

IP Group Plc

08/06/2017 United Kingdom

Special

1 Approve the Terms of the Firm Placing, the Placing and/or the Open For Offer including the Excess Application Facility and the Offer for Subscription

For

2 Authorise Issue of Equity Pursuant to the Capital Raising

For

For

3 Authorise Issue of Equity without Pre-emptive Rights Pursuant to the Capital Raising

For

For

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Treatment of Losses and Dividends of EUR 0.85 per Share

For

For

4 Approve Auditors' Special Report on Related-Party Transactions

For

For

5 Approve Severance Agreement and Additional Pension Scheme Agreement with Marc de Garidel, Chairman

For

Against

Concerns about independence

6 Approve Severance Agreement and Additional Pension Scheme Agreement with David Meek, CEO

For

Against

Concerns about linkage between pay and performance

7 Renew Appointment of KPMG SA as Auditor

For

For

8 Elect Margaret Liu as Director

For

For

9 Elect Carol Stuckley as Director

For

For

10 Elect David Meek as Director

For

For

11 Reelect Antoine Flochel as Director

For

Against

12 Approve Remuneration of Directors in the Aggregate Amount of EUR 1.2 Million

For

For

13 Non-Binding Vote on Compensation of Christel Bories, Vice-CEO until March 13, 2016

For

Against

Concerns about linkage between pay and performance

14 Non-Binding Vote on Compensation of Marc de Garidel, Chairman and CEO until July 18, 2016 and Chairman since this date

For

Against

Concerns about linkage between pay and performance

15 Approve Remuneration Policy of Chairman

For

For

Ipsen

157

07/06/2017 France

Annual/ Special

Ordinary Business

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

16 Non-Binding Vote on Compensation of David Meek, CEO since July 18, 2016

For

Against

Concerns about linkage between pay and performance

17 Approve Remuneration Policy of CEO

For

Against

Concerns about linkage between pay and performance

18 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

19 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

20 Authorize Capitalization of Reserves of up to 20 Percent of Issued Share Capital for Bonus Issue or Increase in Par Value

For

For

21 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to 20 Percent of Issued Share Capital

For

For

22 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to 10 Percent of Issued Share Capital

For

For

23 Approve Issuance of up to 10 Percent of Issued Capital Per Year for a Private Placement

For

For

24 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above, under Items 21-23

For

For

25 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

For

Against

26 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

27 Authorize up to 3 Percent of Issued Capital for Use in Stock Option Plans

For

Against

Extraordinary Business

Isetan Mitsukoshi Holdings Ltd

158

21/06/2017 Japan

Annual

Concerns to protect shareholder interests

Concerns about linkage between pay and performance

28 Amend Article 4, 19 and 20 of Bylaws to Comply with New For Regulation Re: Headquarters, Corporate Officers Compensation and Auditors

For

29 Delegate Power to the Board of Directors to Amend the Bylaws to Comply with New Regulation

For

Against

30 Authorize Filing of Required Documents/Other Formalities

For

For

For

For

2.1 Elect Director Akamatsu, Ken

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Sugie, Toshihiko

For

Against

Holding executives accountable for ongoing poor returns

2.3 Elect Director Takeuchi, Toru

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Wada, Hideharu

For

For

2.5 Elect Director Shirai, Toshinori

For

For

2.6 Elect Director Utsuda, Shoei

For

For

2.7 Elect Director Ida, Yoshinori

For

For

2.8 Elect Director Nagayasu, Katsunori

For

For

For

For

3 Appoint Statutory Auditor Hirata, Takeo iShares Core High Dividend ETF

iShares Trust

iShares U.S. ETF Trust

iShares, Inc.

Issuer Name Isuzu Motors Ltd.

159

19/06/2017 USA

19/06/2017 USA

19/06/2017 USA

19/06/2017 USA

Meeting Country Date 29/06/2017 Japan

Special

Special

Special

Special

Meeting Type Annual

1.1 Elect Director Jane D. Carlin

For

For

1.2 Elect Director Richard L. Fagnani

For

For

1.3 Elect Director Drew E. Lawton

For

For

1.4 Elect Director Madhav V. Rajan

For

For

1.5 Elect Director Mark Wiedman

For

For

1.1 Elect Director Jane D. Carlin

For

For

1.2 Elect Director Richard L. Fagnani

For

For

1.3 Elect Director Drew E. Lawton

For

For

1.4 Elect Director Madhav V. Rajan

For

For

1.5 Elect Director Mark Wiedman

For

For

1.1 Elect Director Jane D. Carlin

For

For

1.2 Elect Director Richard L. Fagnani

For

For

1.3 Elect Director Drew E. Lawton

For

For

1.4 Elect Director Madhav V. Rajan

For

For

1.5 Elect Director Mark Wiedman

For

For

1.1 Elect Director Jane D. Carlin

For

For

1.2 Elect Director Richard L. Fagnani

For

For

1.3 Elect Director Drew E. Lawton

For

For

1.4 Elect Director Madhav V. Rajan

For

For

1.5 Elect Director Mark Wiedman

For

For

Mgmt Rec

Vote Instruction

For

For

Proposal Proposal Text Number 1 Approve Allocation of Income, with a Final Dividend of JPY 16 2.1 Elect Director Katayama, Masanori

For

For

2.2 Elect Director Narimatsu, Yukio

For

For

2.3 Elect Director Takahashi, Shinichi

For

For

2.4 Elect Director Ito, Masatoshi

For

For

Voter Rationale

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Itochu Corp.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.1 Appoint Statutory Auditor Shindo, Tetsuhiko

For

Against

Concerns about independence

3.2 Appoint Statutory Auditor Mikumo, Takashi

For

Against

Concerns about independence

3.3 Appoint Statutory Auditor Kawamura, Kanji

For

Against

Concerns about independence

4 Approve Performance-Based Cash Compensation Ceiling for Directors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 27.5

For

For

2 Amend Articles to Amend Business Lines

Japan AirLines Co. Ltd.

22/06/2017 Japan

Annual

For

For

3.1 Elect Director Okafuji, Masahiro

For

For

3.2 Elect Director Okamoto, Hitoshi

For

For

3.3 Elect Director Suzuki, Yoshihisa

For

For

3.4 Elect Director Kobayashi, Fumihiko

For

For

3.5 Elect Director Hachimura, Tsuyoshi

For

For

3.6 Elect Director Fujisaki, Ichiro

For

For

3.7 Elect Director Kawakita, Chikara

For

For

3.8 Elect Director Muraki, Atsuko

For

For

3.9 Elect Director Mochizuki, Harufumi

For

For

4.1 Appoint Statutory Auditor Majima, Shingo

For

For

4.2 Appoint Statutory Auditor Ono, Kotaro

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 94 2 Amend Articles to Authorize Board to Pay Interim Dividends 3.1 Elect Director Onishi, Masaru

160

29/06/2017 Japan

Annual

For For

3.2 Elect Director Ueki, Yoshiharu

For

For

3.3 Elect Director Fujita, Tadashi

For

For

3.4 Elect Director Okawa, Junko

For

For

3.5 Elect Director Saito, Norikazu

For

For

3.6 Elect Director Kikuyama, Hideki

For

For

3.7 Elect Director Shin, Toshinori

For

For

3.8 Elect Director Iwata, Kimie

For

For

3.9 Elect Director Kobayashi, Eizo

For

For

For

For

4 Approve Cash Compensation Ceiling for Directors and Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 17

For

For

3.10 Elect Director Ito, Masatoshi

Japan Airport Terminal Co. Ltd.

For For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2 Amend Articles to Clarify Director Authority on Shareholder Meetings 3.1 Elect Director Takashiro, Isao

Japan Exchange Group Inc.

161

16/06/2017 Japan

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

3.2 Elect Director Yokota, Nobuaki

For

For

3.3 Elect Director Suzuki, Hisayasu

For

For

3.4 Elect Director Akahori, Masatoshi

For

For

3.5 Elect Director Yonemoto, Yasuhide

For

For

3.6 Elect Director Chiku, Morikazu

For

For

3.7 Elect Director Kato, Katsuya

For

For

3.8 Elect Director Tanaka, Kazuhito

For

For

3.9 Elect Director Onishi, Masaru

For

Against

3.10 Elect Director Takagi, Shigeru

For

For

3.11 Elect Director Harada, Kazuyuki

For

Against

3.12 Elect Director Takemura, Shigeyuki

For

For

3.13 Elect Director Kawashita, Haruhisa

For

For

3.14 Elect Director Ishizeki, Kiyoshi

For

For

3.15 Elect Director Miyauchi, Toyohisa

For

For

4.1 Appoint Statutory Auditor Takeshima, Kazuhiko

For

For

4.2 Appoint Statutory Auditor Kakizaki, Tamaki

For

For

5 Approve Annual Bonus

For

For

6 Approve Compensation Ceiling for Directors

For

For

7 Approve Takeover Defense Plan (Poison Pill)

For

Against

For

For

1.1 Elect Director Tsuda, Hiroki 1.2 Elect Director Kiyota, Akira

For

For

1.3 Elect Director Miyahara, Koichiro

For

For

1.4 Elect Director Yamaji, Hiromi

For

For

1.5 Elect Director Miyama, Hironaga

For

For

1.6 Elect Director Christina L. Ahmadjian

For

For

1.7 Elect Director Ogita, Hitoshi

For

For

1.8 Elect Director Kubori, Hideaki

For

For

1.9 Elect Director Koda, Main

For

For

1.10 Elect Director Kobayashi, Eizo

For

For

1.11 Elect Director Minoguchi, Makoto

For

For

Concerns about candidate Concerns about candidate

Proposal risks entrenching management

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Japan Post Bank Co., Ltd.

Japan Post Holdings Co., Ltd.

JD Sports Fashion plc

162

Meeting Date Country

20/06/2017 Japan

22/06/2017 Japan

29/06/2017 United Kingdom

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.12 Elect Director Mori, Kimitaka

For

For

1.13 Elect Director Yoneda, Tsuyoshi

For

For

For

For

1.1 Elect Director Ikeda, Norito 1.2 Elect Director Tanaka, Susumu

For

For

1.3 Elect Director Sago, Katsunori

For

For

1.4 Elect Director Nagato, Masatsugu

For

For

1.5 Elect Director Nakazato, Ryoichi

For

For

1.6 Elect Director Arita, Tomoyoshi

For

For

1.7 Elect Director Nohara, Sawako

For

For

1.8 Elect Director Machida, Tetsu

For

For

1.9 Elect Director Akashi, Nobuko

For

For

1.10 Elect Director Tsuboi, Toshihiro

For

For

1.11 Elect Director Ikeda, Katsuaki

For

For

1.12 Elect Director Okamoto, Tsuyoshi

For

For

1.13 Elect Director Nomoto, Hirofumi

For

For

1.1 Elect Director Nagato, Masatsugu

For

For

1.2 Elect Director Suzuki, Yasuo

For

For

1.3 Elect Director Ikeda, Norito

For

For

1.4 Elect Director Yokoyama, Kunio

For

For

1.5 Elect Director Uehira, Mitsuhiko

For

For

1.6 Elect Director Mukai, Riki

For

For

1.7 Elect Director Noma, Miwako

For

For

1.8 Elect Director Mimura, Akio

For

For

1.9 Elect Director Yagi, Tadashi

For

For

1.10 Elect Director Seino, Satoshi

For

For

1.11 Elect Director Ishihara, Kunio

For

For

1.12 Elect Director Inubushi, Yasuo

For

For

1.13 Elect Director Charles D. Lake II

For

For

1.14 Elect Director Hirono, Michiko

For

For

1.15 Elect Director Munakata, Norio

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

JFE Holdings, Inc.

JG Summit Holdings, Inc.

Meeting Date Country

23/06/2017 Japan

27/06/2017 Philippines

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Approve Remuneration Policy

For

Against

4 Approve Final Dividend

For

For

5 Re-elect Peter Cowgill as Director

For

For

6 Re-elect Brian Small as Director

For

For

7 Re-elect Andrew Leslie as Director

For

For

8 Re-elect Martin Davies as Director

For

For

9 Re-elect Heather Jackson as Director

For

For

10 Re-elect Andrew Rubin as Director

For

For

11 Reappoint KPMG LLP as Auditors

For

Against

12 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

For

For

2.1 Elect Director Hayashida, Eiji

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For

Against

2.2 Elect Director Kakigi, Koji

For

For

2.3 Elect Director Okada, Shinichi

For

For

2.4 Elect Director Oda, Naosuke

For

For

2.5 Elect Director Oshita, Hajime

For

For

2.6 Elect Director Maeda, Masafumi

For

For

2.7 Elect Director Yoshida, Masao

For

For

2.8 Elect Director Yamamoto, Masami

For

For

3.1 Appoint Statutory Auditor Hara, Nobuya

For

For

3.2 Appoint Statutory Auditor Saiki, Isao

For

For

4 Approve Takeover Defense Plan (Poison Pill)

For

Against

5 Remove Director Masao Yoshida from Office

Against

Against

1 Approve the Minutes of the Annual Meeting of Stockholders Held on June 9, 2016

For

For

2 Approve the Financial Statements for the Preceding Year

For

For

Concerns about linkage between pay and performance

Concerns about auditor independence

Holding executives accountable for ongoing poor returns

Proposal risks entrenching management

Elect 11 Directors by Cumulative Voting

163

3.1 Elect John L. Gokongwei, Jr. as Director

For

For

3.2 Elect James L. Go as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

JGC Corp.

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.3 Elect Lance Y. Gokongwei as Director

For

For

3.4 Elect Lily G. Ngochua as Director

For

For

3.5 Elect Patrick Henry C. Go as Director

For

For

3.6 Elect Johnson Robert G. Go, Jr. as Director

For

For

3.7 Elect Robina Gokongwei-Pe as Director

For

For

3.8 Elect Ricardo J. Romulo as Director

For

For

3.9 Elect Cornelio T. Peralta as Director

For

For

3.10 Elect Jose T. Pardo as Director

For

For

3.11 Elect Renato T. de Guzman as Director

For

For

4 Appoint SyCip Gorres Velayo & Co. as External Auditor

For

For

5 Ratify All Acts of the Board of Directors and Its Committees, Officers, and Management Since the Last Annual Meeting

For

For

6 Approve Other Matters

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For

For

2 Amend Articles to Change Location of Head Office 3.1 Elect Director Sato, Masayuki

Jiangsu Expressway Co. Ltd.

164

22/06/2017 China

Annual

For

For

For

For

3.2 Elect Director Kawana, Koichi

For

For

3.3 Elect Director Ishizuka, Tadashi

For

For

3.4 Elect Director Yamazaki, Yutaka

For

For

3.5 Elect Director Akabane, Tsutomu

For

For

3.6 Elect Director Furuta, Eiki

For

For

3.7 Elect Director Sato, Satoshi

For

For

3.8 Elect Director Suzuki, Masanori

For

For

3.9 Elect Director Terajima, Kiyotaka

For

For

3.10 Elect Director Endo, Shigeru

For

For

3.11 Elect Director Matsushima, Masayuki

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audit Report

For

For

4 Approve 2016 Final Account Report

For

For

5 Approve 2017 Financial Budget Report

For

For

6 Approve 2016 Final Profit Distribution Plan and Final Dividend

For

For

Substance of resolution unclear at time of voting

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Deloitte Touche Tohmatsu Certified Public Accountants LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

8 Approve Deloitte Touche Tohmatsu Certified Public Accountants LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration

For

For

9 Approve Issuance of Ultra-short-term Notes

For

For

For

For

For

For

For

For

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Supervisory Committee

For

For

3 Approve Financial Statements and Statutory Reports

For

For

4 Approve Profit Distribution

For

For

5 Approve Deloitte Touche Tohmatsu Certified Public Accountants For LLP (Special General Partnership) and Deloitte Touche Tohmatsu as Domestic and Overseas Auditors, Respectively and Authorize Board to Fix Their Remuneration

For

6 Approve Resignation of Zhang Weidong as Director and Authorize For Any One Executive Director to Sign All Documents, Agreements and Do All Such Acts and Things to Give Effect to Such Matters

For

7 Elect Zhou Donghua as Independent Non-Executive Director and Authorize Board to Fix His Remuneration and Determine the Terms of the Service Contract

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Re-elect Pierre Denis as Director

For

For

4 Re-elect Jonathan Sinclair as Director

For

For

10 Approve Lending of Funds Raised by the Issuance of Ultra-short Term Notes ELECT 1 EXECUTIVE DIRECTOR VIA CUMULATIVE VOTING 11.01 Elect Yao Yongjia as Director ELECT 1 SUPERVISOR VIA CUMULATIVE VOTING 12.01 Elect Chen Zhongyang as Supervisor Jiangxi Copper Company Ltd.

Jimmy Choo PLC

165

07/06/2017 China

01/06/2017 United Kingdom

Annual

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

Concerns about linkage between pay and performance

5 Re-elect Peter Harf as Director

For

Against

Concerns about overall board structure

6 Re-elect Fabio Fusco as Director

For

Against

Concerns about overall board structure

7 Re-elect Olivier Goudet as Director

For

Against

Concerns about overall board structure

8 Re-elect Anna-Lena Kamenetzky as Director

For

Against

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

10 Re-elect Meribeth Parker as Director

For

For

11 Re-elect David Poulter as Director

For

Against

Concerns about overall board structure

12 Re-elect Robert Singer as Director

For

Against

Concerns about overall board structure

13 Reappoint KPMG LLP as Auditors

For

For

14 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Approve EU Political Donations and Expenditures

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

9 Re-elect Elisabeth Murdoch as Director

John Keells Holdings PLC

30/06/2017 Sri Lanka

Annual

For

For

18 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

19 Authorise Market Purchase of Ordinary Shares

For

For

20 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Reelect D. A. Cabraal as Director

For

For

2 Reelect A. N. Fonseka as Director

For

For

3 Reelect S. S. H. Wijayasuriya as Director

For

For

4 Reelect K. N. J. Balendra as Director

For

For

5 Reelect J. G. A. Cooray as Director

For

For

6 Approve Ernst and Young as Auditors and Authorize Board to Fix their Remuneration

For

For

John Wood Group PLC

15/06/2017 United Kingdom

Special

1 Approve Matters Relating to the All-Share Offer by John Wood Group plc for Amec Foster Wheeler plc

For

For

Jollibee Foods Corporation

30/06/2017 Philippines

Annual

3 Approve the Minutes of the Last Annual Stockholders' Meeting

For

For

5 Approve 2016 Audited Financial Statements and Annual Report

For

For

6 Ratify Actions by the Board of Directors and Officers of the Corporation

For

For

For

For

Elect 9 Directors by Cumulative Voting 7.1 Elect Tony Tan Caktiong as Director

166

7.2 Elect William Tan Untiong as Director

For

For

7.3 Elect Ernesto Tanmantiong as Director

For

For

7.4 Elect Joseph C. Tanbuntiong as Director

For

For

7.5 Elect Ang Cho Sit as Director

For

For

7.6 Elect Antonio Chua Poe Eng as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.7 Elect Artemio V. Panganiban as Director

For

For

7.8 Elect Monico V. Jacob as Director

For

For

7.9 Elect Cezar P. Consing as Director

For

For

For

For

8 Appoint External Auditors JSR Corp.

16/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 25 2.1 Elect Director Koshiba, Mitsunobu

167

29/06/2017 India

Annual

For For

2.2 Elect Director Kawasaki, Koichi

For

For

2.3 Elect Director Kawahashi, Nobuo

For

For

2.4 Elect Director Shmizu, Takao

For

For

2.5 Elect Director Matsuda, Yuzuru

For

For

2.6 Elect Director Sugata, Shiro

For

For

2.7 Elect Director Seki, Tadayuki

For

For

3 Appoint Statutory Auditor Moriwaki, Sumio

JSW Steel Ltd.

For For

For

For

4.1 Appoint Alternate Statutory Auditor Doi, Makoto

For

For

4.2 Appoint Alternate Statutory Auditor Chiba, Akira

For

For

5 Approve Annual Bonus

For

For

6 Approve Performance-Based Cash Compensation Ceiling for Directors

For

For

7 Approve Equity Compensation Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividend on Redeemable Preference Shares

For

For

3 Approve Dividends on Equity Shares

For

For

4 Reelect Vinod Nowal as Director

For

For

5 Approve SRBC & Co. LLP, Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Approve Remuneration of Cost Auditors

For

For

7 Elect Seturaman Mahalingam as Director

For

For

8 Approve Reappointment and Remuneration of Sajjan Jindal as Managing Director

For

For

9 Approve Reappointment and Remuneration of Seshagiri Rao M.V.S. as Jt. Managing Director & Group CFO

For

For

10 Approve Reappointment and Remuneration of Vinod Nowal as Dy. Managing Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

JTEKT Corp.

Meeting Date Country

28/06/2017 Japan

Julius Baer Multibond - Absolute Return 30/06/2017 Luxembourg Bond

JXTG Holdings Inc.

28/06/2017 Japan

Meeting Type

Annual

Special

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Approve Grant of Options to Whole-time Directors

For

Against

12 Authorize Issuance of Non-Convertible Debentures

For

For

13 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

14 Approve Issuance of Foreign Currency Convertible Equity

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 21 2.1 Elect Director Sudo, Seiichi

For

For

2.2 Elect Director Agata, Tetsuo

For

For

2.3 Elect Director Kawakami, Seiho

For

For

2.4 Elect Director Isaka, Masakazu

For

For

2.5 Elect Director Kume, Atsushi

For

For

2.6 Elect Director Miyazaki, Hiroyuki

For

For

2.7 Elect Director Kaijima, Hiroyuki

For

For

2.8 Elect Director Takahashi, Tomokazu

For

For

2.9 Elect Director Matsumoto, Takumi

For

For

2.10 Elect Director Miyatani, Takao

For

For

2.11 Elect Director Okamoto, Iwao

For

For

3 Approve Annual Bonus

For

For

1 Change Company Name

For

For

2 Amend Article 26 Re: Net Asset Value

For

For

3 Amend Articles of Incorporation Re: Amendments in Relation to the For Modifications to the Law on Trading Companies of 1915

For

4 Amend Articles of Incorporation Re: Implementation of the Luxembourg Law of July 28, 2014

For

For

5 Amend Articles of Incorporation Re: Insertion of Reference to the Prospectus

For

For

6 Determination of Effective Date of the Amendments

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 8 2.1 Elect Director Kimura, Yasushi

168

For

For

For

For

2.2 Elect Director Uchida, Yukio

For

For

2.3 Elect Director Muto, Jun

For

For

2.4 Elect Director Kawada, Junichi

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.5 Elect Director Onoda, Yasushi

Kaiser Aluminum Corporation

Kajima Corp.

169

24/06/2017 Japan

14/06/2017 USA

29/06/2017 Japan

Annual

Annual

Annual

Vote Instruction Voter Rationale

For

For

2.6 Elect Director Adachi, Hiroji

For

For

2.7 Elect Director Ota, Katsuyuki

For

For

2.8 Elect Director Sugimori, Tsutomu

For

For

2.9 Elect Director Hirose, Takashi

For

For

For

For

2.10 Elect Director Miyake, Shunsaku

kabu.com Securities

Mgmt Rec

2.11 Elect Director Oi, Shigeru

For

For

2.12 Elect Director Taguchi, Satoshi

For

For

2.13 Elect Director Ota, Hiroko

For

For

2.14 Elect Director Otsuka, Mutsutake

For

For

2.15 Elect Director Kondo, Seiichi

For

For

2.16 Elect Director Miyata, Yoshiiku

For

For

3 Appoint Statutory Auditor Nakajima, Yuji

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1.1 Elect Director Ashizaki, Takeshi

For

Against

1.2 Elect Director Saito, Masakatsu

For

For

1.3 Elect Director Kurokawa, Osamu

For

For

1.4 Elect Director Hamamoto, Akira

For

For

1.5 Elect Director Enjoji, Mitsugu

For

For

1.6 Elect Director Nomiya, Taku

For

For

1.7 Elect Director Yoshida, Yasuhiro

For

For

1.1 Elect Director Carolyn Bartholomew

For

For

1.2 Elect Director Jack A. Hockema

For

For

1.3 Elect Director Lauralee E. Martin

For

For

1.4 Elect Director Brett E. Wilcox

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Deloitte & Touche LLP as Auditors

For

For

For

For

2.1 Elect Director Oshimi, Yoshikazu

1 Approve Allocation of Income, with a Final Dividend of JPY 13

For

For

2.2 Elect Director Atsumi, Naoki

For

For

2.3 Elect Director Tashiro, Tamiharu

For

For

2.4 Elect Director Koizumi, Hiroyoshi

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kakaku.com Inc

Kamigumi Co. Ltd.

170

Meeting Date Country

21/06/2017 Japan

29/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.5 Elect Director Uchida, Ken

For

For

2.6 Elect Director Furukawa, Koji

For

For

2.7 Elect Director Sakane, Masahiro

For

For

2.8 Elect Director Saito, Kiyomi

For

For

3 Appoint Statutory Auditor Fukada, Koji

For

For

4 Amend Performance-Based Cash Compensation Ceiling Approved at 2007 AGM for Directors

For

For

For

For

2.1 Elect Director Hayashi, Kaoru

1 Approve Allocation of Income, with a Final Dividend of JPY 14

For

For

2.2 Elect Director Tanaka, Minoru

For

For

2.3 Elect Director Hata, Shonosuke

For

For

2.4 Elect Director Fujiwara, Kenji

For

For

2.5 Elect Director Uemura, Hajime

For

For

2.6 Elect Director Yuki, Shingo

For

For

2.7 Elect Director Murakami, Atsuhiro

For

For

2.8 Elect Director Hayakawa, Yoshiharu

For

For

2.9 Elect Director Konno, Shiho

For

For

2.10 Elect Director Kuretani, Norihiro

For

For

2.11 Elect Director Kato, Tomoharu

For

For

3 Appoint Statutory Auditor Matsuhashi, Kaori

For

For

4 Appoint Alternate Statutory Auditor Ito, Tetsuo

For

For

5 Approve Compensation Ceiling for Directors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 9

For

For

2 Approve Reverse Stock Split

For

For

3 Amend Articles to Effectively Increase Authorized Capital - Reduce Share Trading Unit

For

For

4.1 Elect Director Kubo, Masami

For

For

4.2 Elect Director Fukai, Yoshihiro

For

For

4.3 Elect Director Makita, Hideo

For

For

4.4 Elect Director Saeki, Kuniharu

For

For

4.5 Elect Director Tahara, Norihito

For

For

4.6 Elect Director Horiuchi, Toshihiro

For

For

4.7 Elect Director Ichihara, Yoichiro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kandenko Co. Ltd.

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4.8 Elect Director Murakami, Katsumi

For

For

4.9 Elect Director Kobayashi, Yasuo

For

For

4.10 Elect Director Tamatsukuri, Toshio

For

For

4.11 Elect Director Baba, Koichi

For

For

5 Appoint Statutory Auditor Kuroda, Ai

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 12

For

For

2.1 Elect Director Ishizuka, Masataka

For

For

2.2 Elect Director Uchino, Takashi

For

For

2.3 Elect Director Kashiwabara, Shoichiro

For

For

2.4 Elect Director Kitayama, Shinichiro

For

For

2.5 Elect Director Goto, Kiyoshi

For

For

2.6 Elect Director Shimura, Hideaki

For

For

2.7 Elect Director Takaoka, Shigenori

For

For

2.8 Elect Director Takahashi, Kenichi

For

For

2.9 Elect Director Nagaoka, Shigeru

For

For

2.10 Elect Director Nakama, Toshio

For

For

2.11 Elect Director Nomura, Hiroshi

For

For

2.12 Elect Director Mizue, Hiroshi

For

For

2.13 Elect Director Morito, Yoshimi

For

For

2.14 Elect Director Yamaguchi, Shuichi

For

For

2.15 Elect Director Yukimura, Toru

For

For

For

For

3 Approve Annual Bonus Kaneka Corp.

171

29/06/2017 Japan

Annual

1.1 Elect Director Sugawara, Kimikazu

For

For

1.2 Elect Director Kadokura, Mamoru

For

For

1.3 Elect Director Tanaka, Minoru

For

For

1.4 Elect Director Kametaka, Shinichiro

For

For

1.5 Elect Director Iwazawa, Akira

For

For

1.6 Elect Director Amachi, Hidesuke

For

For

1.7 Elect Director Ishihara, Shinobu

For

For

1.8 Elect Director Fujii, Kazuhiko

For

For

1.9 Elect Director Nuri, Yasuaki

For

For

1.10 Elect Director Inokuchi, Takeo

For

For

1.11 Elect Director Mori, Mamoru

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kansai Electric Power Co. Inc.

Meeting Date Country

28/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Appoint Alternate Statutory Auditor Nakahigashi, Masafumi

For

For

3 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 25 2.1 Elect Director Yagi, Makoto

172

For

For

For

For

2.2 Elect Director Iwane, Shigeki

For

For

2.3 Elect Director Toyomatsu, Hideki

For

For

2.4 Elect Director Kagawa, Jiro

For

For

2.5 Elect Director Doi, Yoshihiro

For

For

2.6 Elect Director Morimoto, Takashi

For

For

2.7 Elect Director Inoue, Tomio

For

For

2.8 Elect Director Sugimoto, Yasushi

For

For

2.9 Elect Director Yukawa, Hidehiko

For

For

2.10 Elect Director Oishi, Tomihiko

For

For

2.11 Elect Director Shimamoto, Yasuji

For

For

2.12 Elect Director Inoue, Noriyuki

For

For

2.13 Elect Director Okihara, Takamune

For

For

2.14 Elect Director Kobayashi, Tetsuya

For

For

3.1 Appoint Statutory Auditor Yashima, Yasuhiro

For

For

3.2 Appoint Statutory Auditor Otsubo, Fumio

For

For

4 Amend Articles to Phase out Use of Nuclear Energy and Fossil Fuel Energy and to Promote Renewable Energy

Against

Against

5 Amend Articles to Require Detailed Shareholder Meeting Minutes Disclosure

Against

For

6 Amend Articles to Introduce Provision on Corporate Social Responsibility to Promote Operational Sustainability

Against

Against

7 Amend Articles to Introduce Provision on Corporate Social Responsibility related to Information Disclosure

Against

Against

8 Amend Articles to Introduce Provision on Corporate Social Responsibility related to Human Resource Development and Technology Development

Against

Against

9 Amend Articles to Introduce Provision on Corporate Social Responsibility related to Energy Saving

Against

Against

10 Approve Income Allocation, with a Final Dividend of JPY 5 Higher than Management's Dividend Proposal

Against

Against

11 Remove President Shigeki Iwane from Office

Against

Against

Proposal enhances transparency

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kansai Nerolac Paints Ltd

173

Meeting Date Country

21/06/2017 India

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

12 Amend Articles to Require Disclosure of Compensation of Individual Against Directors and its Calculation Base

For

13 Amend Articles to Launch Committee on Promotion of Work Sustainability

Against

Against

14 Amend Articles to Ban Reprocessing of Spent Nuclear Fuel and Abandon Recycling Projects

Against

Against

15 Amend Articles to Launch Committee to Review Risks associated with Aging Nuclear Plants and Resumption of Nuclear Operation after Long-time Suspension

Against

Against

16 Amend Articles to Ban Operation of Nuclear Power Generation

Against

Against

17 Amend Articles to Promote Maximum Disclosure to Gain Consumer Against Trust

Against

18 Amend Articles to Require Disclosure of Compensation of Individual Against Directors

For

19 Amend Articles to Encourage Dispersed Renewable and Natural Gas Against Power

Against

20 Amend Articles to Encourage Dispersed Renewable and Natural Gas Against Power

Against

21 Amend Articles to Cease Nuclear Operations and Decommission All Against Nuclear Facilities as Soon as Possible

Against

22 Amend Articles to Commit to Nurture of Work Climate Conducive to Improving Quality of Nuclear Safety Mechanisms Through Debate Among Employees

Against

Against

23 Amend Articles to Ban Hiring or Service on the Board or at the Company by Former Government Officials

Against

Against

24 Amend Articles to Reduce Maximum Board Size from 20 to 10 and Require Majority Outsider Board

Against

Against

25 Amend Articles to End Reliance on Nuclear Power

Against

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividends

For

For

3 Reelect Masaru Tanaka as Director

For

For

4 Reelect Hidenori Furukawa as Director

For

For

5 Approve B S R & Co. LLP, Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Approve 2017 Remuneration of Cost Auditors

For

For

7 Approve 2018 Remuneration of Cost Auditors

For

For

Proposal enhances accountability

Proposal enhances accountability

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kansai Paint Co. Ltd.

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Approve Appointment and Remuneration of H.M. Bharuka as Vice Chairman and Managing Director

For

For

9 Elect Katsuhiko Kato as Director

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 11

For

For

2 Amend Articles to Reduce Directors' Term

For

For

For

For

3.1 Elect Director Ishino, Hiroshi 3.2 Elect Director Mori, Kunishi

For

For

3.3 Elect Director Tanaka, Masaru

For

For

3.4 Elect Director Kamikado, Koji

For

For

3.5 Elect Director Furukawa, Hidenori

For

For

3.6 Elect Director Seno, Jun

For

For

3.7 Elect Director Asatsuma, Shinji

For

For

3.8 Elect Director Harishchandra Meghraj Bharuka

For

For

3.9 Elect Director Nakahara, Shigeaki

For

Against

Concerns about candidate

For

Against

Concerns about candidate

3.10 Elect Director Miyazaki, Yoko

Kawasaki Heavy Industries, Ltd.

28/06/2017 Japan

Annual

4 Appoint Statutory Auditor Azuma, Seiichiro

For

For

5 Appoint Alternate Statutory Auditor Nakai, Hiroe

For

For

6 Approve Trust-Type Equity Compensation Plan

For

For

7 Approve Takeover Defense Plan (Poison Pill)

For

Against

Proposal risks entrenching management

7 Approve Takeover Defense Plan (Poison Pill)

For

Against

Proposal risks entrenching management

1 Approve Allocation of Income, with a Final Dividend of JPY 2

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Amend Articles to Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

For

For

4.1 Elect Director Murayama, Shigeru

174

4.2 Elect Director Kanehana, Yoshinori

For

For

4.3 Elect Director Morita, Yoshihiko

For

For

4.4 Elect Director Ishikawa, Munenori

For

For

4.5 Elect Director Hida, Kazuo

For

For

4.6 Elect Director Tomida, Kenji

For

For

4.7 Elect Director Kuyama, Toshiyuki

For

For

4.8 Elect Director Ota, Kazuo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 4.9 Elect Director Ogawara, Makoto

Annual

20/06/2017 Japan

Annual

For

For For

For

For

5.1 Appoint Statutory Auditor Kodera, Satoru

For

For

5.2 Appoint Statutory Auditor Ishii, Atsuko

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 45

For

For

For

For

2.2 Elect Director Tanaka, Takashi

For

For

2.3 Elect Director Morozumi, Hirofumi

For

For

2.4 Elect Director Takahashi, Makoto

For

For

2.5 Elect Director Ishikawa, Yuzo

For

For

2.6 Elect Director Uchida, Yoshiaki

For

For

2.7 Elect Director Shoji, Takashi

For

For

2.8 Elect Director Muramoto, Shinichi

For

For

2.9 Elect Director Mori, Keiichi

For

For

2.10 Elect Director Yamaguchi, Goro

For

For

2.11 Elect Director Kodaira, Nobuyori

For

For

2.12 Elect Director Fukukawa, Shinji

For

For

2.13 Elect Director Tanabe, Kuniko

For

For

2.14 Elect Director Nemoto, Yoshiaki

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 3

For

For

2 Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Audit Committee - Amend Provisions on Number of Directors - Authorize Directors to Execute Day to Day Operations without Full Board Approval

For

For

For

For

3.1 Elect Director Kato, Yoshifumi

175

For

For

2.1 Elect Director Onodera, Tadashi

Keihan Holdings Co.,Ltd.

For

4.10 Elect Director Watanabe, Tatsuya

6 Approve Compensation Ceiling for Statutory Auditors 21/06/2017 Japan

Vote Instruction Voter Rationale

4.11 Elect Director Yoneda, Michio 4.12 Elect Director Yamamoto, Katsuya

KDDI Corporation

Mgmt Rec

3.2 Elect Director Miura, Tatsuya

For

For

3.3 Elect Director Nakano, Michio

For

For

3.4 Elect Director Ueno, Masaya

For

For

3.5 Elect Director Inachi, Toshihiko

For

For

3.6 Elect Director Ishimaru, Masahiro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Keikyu Corp

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.7 Elect Director Tsukuda, Kazuo

For

For

3.8 Elect Director Kita, Shuji

For

For

4.1 Elect Director and Audit Committee Member Nagahama, Tetsuo

For

For

4.2 Elect Director and Audit Committee Member Nakatani, Masakazu

For

For

4.3 Elect Director and Audit Committee Member Umezaki, Hisashi

For

For

4.4 Elect Director and Audit Committee Member Tahara, Nobuyuki

For

Against

4.5 Elect Director and Audit Committee Member Kusao, Koichi

For

For

5 Elect Alternate Director and Audit Committee Member Fukuda, Tadashi

For

For

6 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

7 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

8 Approve Deep Discount Stock Option Plan

For

For

9 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 3.5

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Ishiwata, Tsuneo

For

3.2 Elect Director Harada, Kazuyuki

For

For

3.3 Elect Director Ogura, Toshiyuki

For

For

3.4 Elect Director Michihira, Takashi

For

For

3.5 Elect Director Hirokawa, Yuichiro

For

For

3.6 Elect Director Honda, Toshiaki

For

For

3.7 Elect Director Takeda, Yoshikazu

For

For

3.8 Elect Director Sasaki, Kenji

For

For

3.9 Elect Director Tomonaga, Michiko

For

For

For

For

3.10 Elect Director Hirai, Takeshi

176

For

Concerns about overall board structure

3.11 Elect Director Ueno, Kenryo

For

For

3.12 Elect Director Oga, Shosuke

For

For

3.13 Elect Director Urabe, Kazuo

For

For

3.14 Elect Director Watanabe, Shizuyoshi

For

For

3.15 Elect Director Kawamata, Yukihiro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.16 Elect Director Sato, Kenji Keio Corp

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 4.5

3.1 Elect Director Nagata, Tadashi

Keisei Electric Railway

177

29/06/2017 Japan

Annual

For

For

3.2 Elect Director Komura, Yasushi

For

For

3.3 Elect Director Takahashi, Taizo

For

For

3.4 Elect Director Maruyama, So

For

For

3.5 Elect Director Nakaoka, Kazunori

For

For

3.6 Elect Director Ito, Shunji

For

For

3.7 Elect Director Koshimizu, Yotaro

For

For

3.8 Elect Director Nakajima, Kazunari

For

For

3.9 Elect Director Minami, Yoshitaka

For

For

3.10 Elect Director Takahashi, Atsushi

For

For

3.11 Elect Director Furuichi, Takeshi

For

For

3.12 Elect Director Kawasugi, Noriaki

For

For

3.13 Elect Director Yamamoto, Mamoru

For

For

3.14 Elect Director Komada, Ichiro

For

For

3.15 Elect Director Kawase, Akinobu

For

For

3.16 Elect Director Yasuki, Kunihiko

For

For

3.17 Elect Director Sakurai, Toshiki

For

For

3.18 Elect Director Terada, Yuichiro

For

For

For

For

2.1 Elect Director Saigusa, Norio

1 Approve Allocation of Income, with a Final Dividend of JPY 8

For

For

2.2 Elect Director Hirata, Kenichiro

For

For

2.3 Elect Director Kobayashi, Toshiya

For

For

2.4 Elect Director Matsukami, Eiichiro

For

For

2.5 Elect Director Saito, Takashi

For

For

2.6 Elect Director Kato, Masaya

For

For

2.7 Elect Director Shinozaki, Atsushi

For

For

2.8 Elect Director Miyajima, Hiroyuki

For

For

2.9 Elect Director Serizawa, Hiroyuki

For

For

2.10 Elect Director Kawasumi, Makoto

For

For

2.11 Elect Director Toshima, Susumu

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.12 Elect Director Akai, Fumiya

09/06/2017 Japan

Annual

21/06/2017 Poland

Annual

For

Against

2.13 Elect Director Furukawa, Yasunobu

For

For

For

For

Concerns about candidate

2.15 Elect Director Amano, Takao

For

For

2.16 Elect Director Muroya, Masahiro

For

For

For

Against

Concerns about independence Concerns about returns to shareholders

1 Approve Allocation of Income, with a Final Dividend of JPY 75

For

Against

2 Amend Articles to Authorize Public Announcements in Electronic Format

For

For

3.1 Elect Director Takizaki, Takemitsu

For

Against

3.2 Elect Director Yamamoto, Akinori

For

For

3.3 Elect Director Kimura, Tsuyoshi

For

For

3.4 Elect Director Kimura, Keiichi

For

For

3.5 Elect Director Ideno, Tomohide

For

For

3.6 Elect Director Yamaguchi, Akiji

For

For

3.7 Elect Director Kanzawa, Akira

For

For

3.8 Elect Director Fujimoto, Masato

For

For

3.9 Elect Director Tanabe, Yoichi

For

For

For

For

For

For

For

For

4 Appoint Alternate Statutory Auditor Yamamoto, Masaharu KGHM Polska Miedz S.A.

Vote Instruction Voter Rationale

2.14 Elect Director Mashimo, Yukihito

3 Appoint Statutory Auditor Muraoka, Takashi Keyence Corp.

Mgmt Rec

Concerns about candidate

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting 4 Approve Agenda of Meeting 5.1 Receive Financial Statements 5.2 Receive Consolidated Financial Statements 5.3 Receive Management Board Report on Company's and Group's Operations 6 Receive Management Board Proposal on Treatment of Net Loss 7 Receive Management Board Proposal on Dividends 8 Receive Supervisory Board Report on Board's Review of Management Board Report on Company's and Group's Operations, Standalone and Consolidated Financial Statements, and Management Board Proposal on Treatment of Net Loss and Dividends

178

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.1 Receive Supervisory Board Report on Company's Standing 9.2 Receive Supervisory Board Report on Its Activities

179

10.1 Approve Financial Statements

For

For

10.2 Approve Consolidated Financial Statements

For

For

10.3 Approve Management Board Report on Company's and Group's Operations

For

For

10.4 Approve Treatment of Net Loss

For

For

10.5 Approve Dividends of PLN 1 per Share

For

For

11.1a Approve Discharge of Miroslaw Blinski (Management Board Member)

For

For

11.1b Approve Discharge of Marcin Chmielewski (Management Board Member)

For

Against

11.1c Approve Discharge of Radoslaw Domagalski-Labedzki (Management Board Member)

For

For

11.1d Approve Discharge of Michal Jezioro (Management Board Member)

For

For

11.1e Approve Discharge of Jacek Kardela (Management Board Member)

For

Against

11.1f Approve Discharge of Miroslaw Laskowski (Management Board Member)

For

For

11.1g Approve Discharge of Jacek Rawecki (Management Board Member)

For

For

11.1h Approve Discharge of Jaroslaw Romanowski (Management Board Member)

For

Against

11.1i Approve Discharge of Krzysztof Skora (Management Board Member)

For

For

11.1j Approve Discharge of Stefan Swiatkowski (Management Board Member)

For

For

11.1k Approve Discharge of Piotr Walczak (Management Board Member)

For

For

11.1l Approve Discharge of Herbert Wirth (Management Board Member)

For

Against

11.2a Approve Discharge of Radoslaw Barszcz (Supervisory Board Member)

For

For

11.2b Approve Discharge of Tomasz Cyran (Supervisory Board Member)

For

For

11.2c Approve Discharge of Michal Czarnik (Supervisory Board Member)

For

For

11.2d Approve Discharge of Jozef Czyczerski (Supervisory Board Member)

For

For

11.2e Approve Discharge of Stanislaw Fiedor (Supervisory Board Member) For

For

11.2f Approve Discharge of Cezary Godziuk (Supervisory Board Member)

For

For

11.2g Approve Discharge of Leszek Hajdacki (Supervisory Board Member)

For

For

Concerns about performance

Concerns about performance

Concerns about performance

Concerns about performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11.2h Approve Discharge of Dominik Hunk (Supervisory Board Member)

For

For

11.2i Approve Discharge of Andrzej Kidyba (Supervisory Board Member)

For

For

11.2j Approve Discharge of Marcin Moryn (Supervisory Board Member)

For

For

11.2k Approve Discharge of Wojciech Myslecki (Supervisory Board Member)

For

For

11.2l Approve Discharge of Marek Pietrzak (Supervisory Board Member)

For

For

11.2m Approve Discharge of Jacek Poswiata (Supervisory Board Member)

For

For

11.2n Approve Discharge of Milosz Stanislawski (Supervisory Board Member)

For

For

11.2o Approve Discharge of Boguslaw Szarek (Supervisory Board Member) For

For

11.2p Approve Discharge of Barbara Wertelecka-Kwater (Supervisory Board Member)

For

For

11.2r Approve Discharge of Agnieszka Winnik-Kalemba (Supervisory Board Member)

For

For

11.2s Approve Discharge of Jaroslaw Witkowski (Supervisory Board Member)

For

For

None

For

Shareholder Proposals 12.1 Amend Statute Re: Editorial Amendment

180

12.2 Amend Statute Re: Management Board

None

For

12.3 Amend Statute Re: Supervisory Board

None

For

12.4 Amend Statute Re: General Meeting

None

For

12.5 Amend Statute Re: Disposal of Company Assets

None

For

12.6 Amend Statute Re: Management Board

None

For

13.1 Approve Disposal of Company's Assets

None

Against

13.2 Approve Regulations on Agreements for Legal Services, Marketing Services, Public Relations Services, and Social Communication Services

None

For

13.3 Approve Regulations on Agreements for Donations, Debt Exemptions, and Similar Agreements

None

For

13.4 Approve Regulations on Disposal of Assets

None

For

13.5 Approve Obligation of Publication of Statements on Expenses Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services

None

For

13.6 Approve Requirements for Candidates to Management Board

None

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

13.7 Approve Regulations on Election and Recruitment Process of Management Board Members

None

For

13.8 Approve Fulfilment of Obligations from Articles 17.7, 18.2, 20, and 23 of Act on State Property Management

None

For

14 Amend Dec. 7, 2016, EGM, Resolution Re: Remuneration Policy for Management Board Members

None

Against

Concerns to protect shareholder interests

15 Amend Dec. 7, 2016, EGM, Resolution Re: Remuneration Policy for Supervisory Board Members

None

Against

Concerns to protect shareholder interests

16.1 Recall Supervisory Board Member

None

Against

Concerns to protect shareholder interests

16.2 Elect Supervisory Board Member

None

Against

Concerns to protect shareholder interests

For

For

Management Proposal 17 Close Meeting Kikkoman Corp.

Kingfisher plc

181

27/06/2017 Japan

13/06/2017 United Kingdom

Annual

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 18 2.1 Elect Director Mogi, Yuzaburo

For

For

2.2 Elect Director Horikiri, Noriaki

For

For

2.3 Elect Director Yamazaki, Koichi

For

For

2.4 Elect Director Shimada, Masanao

For

For

2.5 Elect Director Nakano, Shozaburo

For

For

2.6 Elect Director Shimizu, Kazuo

For

For

2.7 Elect Director Mogi, Osamu

For

For

2.8 Elect Director Fukui, Toshihiko

For

For

2.9 Elect Director Ozaki, Mamoru

For

For

2.10 Elect Director Inokuchi, Takeo

For

For

3 Appoint Statutory Auditor Kogo, Motohiko

For

For

4 Appoint Alternate Statutory Auditor Endo, Kazuyoshi

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Final Dividend

For

For

4 Elect Andy Cosslett as Director

For

For

5 Re-elect Andrew Bonfield as Director

For

For

6 Re-elect Pascal Cagni as Director

For

For

7 Re-elect Clare Chapman as Director

For

For

8 Re-elect Anders Dahlvig as Director

For

For

9 Re-elect Rakhi Goss-Custard as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kintetsu Group Holdings Co., Ltd.

Meeting Date Country

22/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Re-elect Veronique Laury as Director

For

For

11 Re-elect Mark Seligman as Director

For

For

12 Re-elect Karen Witts as Director

For

For

13 Reappoint Deloitte LLP as Auditors

For

For

14 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

15 Authorise EU Political Donations and Expenditure

For

For

16 Authorise Issue of Equity with Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise Market Purchase of Ordinary Shares

For

For

19 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

20 Adopt New Articles of Association

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5

3.1 Elect Director Kobayashi, Tetsuya

For

For

3.2 Elect Director Yoshida, Yoshinori

For

For

3.3 Elect Director Yasumoto, Yoshihiro

For

For

3.4 Elect Director Morishima, Kazuhiro

For

For

3.5 Elect Director Kurahashi, Takahisa

For

For

3.6 Elect Director Shirakawa, Masaaki

For

For

3.7 Elect Director Yoneda, Akimasa

For

For

3.8 Elect Director Murai, Hiroyuki

For

For

3.9 Elect Director Wakai, Takashi 3.10 Elect Director Wadabayashi, Michiyoshi

182

For

For

For

For

3.11 Elect Director Okamoto, Kunie

For

For

3.12 Elect Director Araki, Mikio

For

For

3.13 Elect Director Ueda, Tsuyoshi

For

For

3.14 Elect Director Murata, Ryuichi

For

For

3.15 Elect Director Futamura, Takashi

For

For

3.16 Elect Director Yoshimoto, Isao

For

For

3.17 Elect Director Miyake, Sadayuki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Kobe Steel Ltd.

Meeting Date Country 21/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.1 Elect Director Kawasaki, Hiroya

For

Against

1.2 Elect Director Onoe, Yoshinori

For

For

1.3 Elect Director Kaneko, Akira

For

For

1.4 Elect Director Umehara, Naoto

For

For

1.5 Elect Director Yamaguchi, Mitsugu

For

For

1.6 Elect Director Manabe, Shohei

For

For

1.7 Elect Director Koshiishi, Fusaki

For

For

1.8 Elect Director Miyake, Toshiya

For

For

1.9 Elect Director Naraki, Kazuhide

For

For

1.10 Elect Director Kitabata, Takao

For

For

1.11 Elect Director Bamba, Hiroyuki

For

For

For

For

2 Elect Alternate Director and Audit Committee Member Kitabata, Takao Koito Manufacturing Co. Ltd.

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 34 2.1 Elect Director Otake, Masahiro

For For

2.2 Elect Director Mihara, Hiroshi

For

For

2.3 Elect Director Yokoya, Yuji

For

For

2.4 Elect Director Sakakibara, Koichi

For

For

2.5 Elect Director Arima, Kenji

For

For

2.6 Elect Director Uchiyama, Masami

For

For

2.7 Elect Director Kato, Michiaki

For

For

2.8 Elect Director Konagaya, Hideharu

For

For

2.9 Elect Director Otake, Takashi

183

For For

For

For

2.10 Elect Director Kusakawa, Katsuyuki

For

For

2.11 Elect Director Yamamoto, Hideo

For

For

2.12 Elect Director Toyota, Jun

For

For

2.13 Elect Director Uehara, Haruya

For

For

2.14 Elect Director Sakurai, Kingo

For

For

3 Appoint Statutory Auditor Kawaguchi, Yohei

For

For

4 Appoint Alternate Statutory Auditor Shinohara, Hideo

For

For

5 Approve Equity Compensation Plan

For

Against

Holding executives accountable for ongoing poor returns

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Komatsu Ltd.

Meeting Date Country 20/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text 1 Approve Allocation of Income, with a Final Dividend of JPY 29 2.1 Elect Director Noji, Kunio

Konami Holdings Corp.

Konica Minolta Inc.

184

28/06/2017 Japan

20/06/2017 Japan

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

2.2 Elect Director Ohashi, Tetsuji

For

For

2.3 Elect Director Fujitsuka, Mikio

For

For

2.4 Elect Director Kuromoto, Kazunori

For

For

2.5 Elect Director Mori, Masanao

For

For

2.6 Elect Director Oku, Masayuki

For

For

2.7 Elect Director Yabunaka, Mitoji

For

For

2.8 Elect Director Kigawa, Makoto

For

For

3.1 Appoint Statutory Auditor Matsuo, Hironobu

For

For

3.2 Appoint Statutory Auditor Ono, Kotaro

For

For

4 Approve Annual Bonus

For

For

5 Approve Deep Discount Stock Option Plan

For

For

1.1 Elect Director Kozuki, Kagemasa

For

For

1.2 Elect Director Kozuki, Takuya

For

For

1.3 Elect Director Nakano, Osamu

For

For

1.4 Elect Director Sakamoto, Satoshi

For

For

1.5 Elect Director Higashio, Kimihiko

For

For

1.6 Elect Director Matsura, Yoshihiro

For

For

1.7 Elect Director Gemma, Akira

For

For

1.8 Elect Director Yamaguchi, Kaori

For

For

1.9 Elect Director Kubo, Kimito

For

For

2.1 Appoint Statutory Auditor Furukawa, Shinichi

For

For

2.2 Appoint Statutory Auditor Maruoka, Minoru

For

For

1.1 Elect Director Matsuzaki, Masatoshi

For

For

1.2 Elect Director Yamana, Shoei

For

For

1.3 Elect Director Kama, Kazuaki

For

For

1.4 Elect Director Tomono, Hiroshi

For

For

1.5 Elect Director Nomi, Kimikazu

For

For

1.6 Elect Director Hatchoji, Takashi

For

For

1.7 Elect Director Ando, Yoshiaki

For

For

1.8 Elect Director Shiomi, Ken

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.9 Elect Director Hatano, Seiji 1.10 Elect Director Koshizuka, Kunihiro

Kose Corp.

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 63 2.1 Elect Director Hanagata, Kazumasa

Kurita Water Industries Ltd.

185

02/06/2017 Bermuda

29/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

For

For

For

For

For

For

For

2.2 Elect Director Naito, Noboru

For

For

2.3 Elect Director Nagahama, Kiyoto

For

For

2.4 Elect Director Kumada, Atsuo

For

For

2.5 Elect Director Shibusawa, Koichi

For

For

2.6 Elect Director Kobayashi, Masanori

For

For

2.7 Elect Director Yanai, Michihito

For

For

For

For

3 Appoint Statutory Auditor Arakane, Kumi

Kunlun Energy Company Ltd

Mgmt Rec

4 Approve Director Retirement Bonus

For

Against

Substance of resolution unclear at time of voting

5 Approve Statutory Auditor Retirement Bonus

For

Against

Substance of resolution unclear at time of voting

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3A Elect Wu Enlai as Director

For

For

3B Elect Zhao Yongqi as Director

For

For

3C Elect Li Kwok Sing Aubrey as Director

For

Against

4 Authorize Board to Fix Remuneration of Directors

For

For

5 Approve KPMG as Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

7 Authorize Share Repurchase Program

For

For

8 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 25

For

For

2.1 Elect Director Kadota, Michiya

For

For

2.2 Elect Director Iioka, Koichi

For

For

2.3 Elect Director Ito, Kiyoshi

For

For

2.4 Elect Director Namura, Takahito

For

For

2.5 Elect Director Kodama, Toshitaka

For

For

2.6 Elect Director Yamada, Yoshio

For

For

2.7 Elect Director Ishimaru, Ikuo

For

For

2.8 Elect Director Ejiri, Hirohiko

For

For

Concerns about overall board structure

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.9 Elect Director Moriwaki, Tsuguto 2.10 Elect Director Sugiyama, Ryoko

Kyocera Corp.

27/06/2017 Japan

Annual

28/06/2017 Japan

Annual

For

For

For

For

For

For

4 Appoint Alternate Statutory Auditor Tsuji, Yoshihiro

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 60

For

For

2.1 Elect Director Yamaguchi, Goro

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Tanimoto, Hideo

For

Against

Holding executives accountable for ongoing poor returns

2.3 Elect Director Ishii, Ken

For

For

2.4 Elect Director Fure, Hiroshi

For

For

2.5 Elect Director Date, Yoji

For

For

2.6 Elect Director Kano, Koichi

For

For

2.7 Elect Director Aoki, Shoichi

For

For

2.8 Elect Director John Sarvis

For

For

For

For

2.10 Elect Director Onodera, Tadashi

For

For

2.11 Elect Director Mizobata, Hiroto

For

For

2.12 Elect Director Aoyama, Atsushi

For

For

2.13 Elect Director Itsukushima, Keiji

For

For

2.14 Elect Director Ina, Norihiko

For

For

2.15 Elect Director Sato, Takashi

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 15 2.1 Elect Director Nuki, Masayoshi

186

Vote Instruction Voter Rationale

3 Appoint Statutory Auditor Torikai, Shigekazu

2.9 Elect Director Robert Wisler

Kyushu Electric Power Co. Inc.

Mgmt Rec

For

For

For

For

2.2 Elect Director Uriu, Michiaki

For

For

2.3 Elect Director Sato, Naofumi

For

For

2.4 Elect Director Aramaki, Tomoyuki

For

For

2.5 Elect Director Izaki, Kazuhiro

For

For

2.6 Elect Director Sasaki, Yuzo

For

For

2.7 Elect Director Yamamoto, Haruyoshi

For

For

2.8 Elect Director Yakushinji, Hideomi

For

For

2.9 Elect Director Nakamura, Akira

For

For

2.10 Elect Director Watanabe, Yoshiro

For

For

2.11 Elect Director Yamasaki, Takashi

For

For

2.12 Elect Director Inuzuka, Masahiko

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Kyushu Financial Group, Inc.

Meeting Date Country

21/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.13 Elect Director Ikebe, Kazuhiro

For

For

2.14 Elect Director Watanabe, Akiyoshi

For

For

2.15 Elect Director Kikukawa, Ritsuko

For

For

3 Appoint Statutory Auditor Furusho, Fumiko

For

For

4 Appoint Alternate Statutory Auditor Shiotsugu, Kiyoaki

For

For

5 Amend Articles to Ban Nuclear Power Generation

Against

Against

6 Amend Articles to Add Provisions on Fukushima Nuclear Accident and its Lesson

Against

Against

7 Amend Articles to Establish System to Review Corporate Social Responsibility

Against

Against

8 Amend Articles to Establish Committee on Safety Investigation of Nuclear Reactor Facilities

Against

Against

9 Amend Articles to Establish Committee on Cost Calculation of Each Against Electric Power Source

Against

1 Amend Articles to Reflect Changes in Law

For

For

2.1 Elect Director Kai, Takahiro

For

For

2.2 Elect Director Kamimura, Motohiro

For

For

2.3 Elect Director Koriyama, Akihisa

For

For

2.4 Elect Director Mogami, Tsuyoshi

For

For

2.5 Elect Director Matsunaga, Hiroyuki

For

For

2.6 Elect Director Kasahara, Yosihisa

For

For

2.7 Elect Director Hayashida, Toru

For

For

2.8 Elect Director Tsuruta, Tsukasa

For

For

2.9 Elect Director Watanabe, Katsuaki

For

For

2.10 Elect Director Sueyoshi, Takejiro

For

For

3 Appoint Statutory Auditor Kaigakura, Hirofumi

For

For

Lamprell plc

26/06/2017 United Kingdom

Special

1 Approve Joint Venture Relating to the Maritime Yard Within the King SalmanInternational Complex for Maritime Industries & Services

For

For

Largan Precision Co., Ltd.

14/06/2017 Taiwan

Annual

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

Las Vegas Sands Corp.

187

08/06/2017 USA

Annual

1.1 Elect Director Charles D. Forman

For

For

1.2 Elect Director Steven L. Gerard

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

LDI Solutions Plus plc - IIFIG Government Liquidity Fund

Lenta Ltd

Li & Fung Limited

Liberty Global plc

188

Meeting Date Country

08/06/2017 Ireland

23/06/2017 Virgin Isl (UK)

01/06/2017 Bermuda

21/06/2017 United Kingdom

Meeting Type

Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.3 Elect Director George Jamieson

For

For

1.4 Elect Director Lewis Kramer

For

For

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Accept Financial Statements and Statutory Reports and Review the Company's Affairs

For

For

2 Ratify KPMG as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

4 Adopt the Amendments to the Articles of Association

For

Against

Concerns about linkage between pay and performance

Concerns to protect shareholder interests

Meeting for GDR Holders 1 Re-elect Stephen Johnson as Director

For

For

Votes to favour our preferred candidates

2 Re-elect Anton Artemyev as Director

For

For

Votes to favour our preferred candidates

3 Re-elect Michael Lynch-Bell as Director

For

For

Votes to favour our preferred candidates

4 Re-elect John Oliver as Director

For

Against

Votes to favour our preferred candidates

5 Re-elect Dmitry Shvets as Director

For

Against

Votes to favour our preferred candidates

6 Re-elect Stephen Peel as Director

For

Against

Votes to favour our preferred candidates Votes to favour our preferred candidates

7 Re-elect Martin Elling as Director

For

Against

8 Ratify Ernst & Young LLC as Auditors and Authorise Their Remuneration

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3a Elect William Fung Kwok Lun as Director

For

For

3b Elect Martin Tang Yue Nien as Director

For

For

3c Elect Marc Robert Compagnon as Director

For

For

4 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

5 Authorize Repurchase of Issued Share Capital

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

1 Elect Director Miranda Curtis

For

For

2 Elect Director John W. Dick

For

Against

Concerns about overall board structure

3 Elect Director JC Sparkman

For

Against

Concerns about overall board structure

4 Elect Director David Wargo

For

Against

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Lite-On Technology Corp.

LIXIL Group Corporation

Meeting Date Country

22/06/2017 Taiwan

22/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Remuneration Policy

For

Against

Concerns about linkage between pay and performance

6 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

7 Approve the Implementation of Remuneration Policy

For

Against

Concerns about linkage between pay and performance

8 Ratify KPMG LLP (U.S.) as Auditors

For

For

9 Ratify KPMG LLP (U.K.) as Auditors

For

For

10 Authorize the Audit Committee to Fix Remuneration of Auditors

For

For

11 Authorize Share Repurchase Program

For

For

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Articles of Association

For

For

4 Amend Procedures for Lending Funds to Other Parties and Endorsement and Guarantees

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1.1 Elect Director Ushioda, Yoichiro

For

For

1.2 Elect Director Seto, Kinya

For

For

1.3 Elect Director Kanamori, Yoshizumi

For

For

1.4 Elect Director Kikuchi, Yoshinobu

For

For

1.5 Elect Director Ina, Keiichiro

For

For

1.6 Elect Director Kawaguchi, Tsutomu

For

For

1.7 Elect Director Koda, Main

For

For

1.8 Elect Director Barbara Judge

For

For

1.9 Elect Director Yamanashi, Hirokazu

For

For

For

For

For

For

1.10 Elect Director Yoshimura, Hiroto Longfor Properties Co. Ltd

05/06/2017 Cayman Islands

Annual

1 Accept Financial Statements and Statutory Reports 2 Approve Final Dividend

189

For

For

3.1 Elect Shao Mingxiao as Director

For

For

3.2 Elect Xiang Bing as Director

For

For

3.3 Elect Zeng Ming as Director

For

For

3.4 Elect Li Chaojiang as Director

For

Against

3.5 Authorize Board to Fix Remuneration of Directors

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Lowe's Companies, Inc.

LUKOIL PJSC

Meeting Date Country

02/06/2017 USA

21/06/2017 Russia

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Deloitte Touche Tohmatsu as Auditors and Authorize Board For to Fix Their Remuneration

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6 Authorize Repurchase of Issued Share Capital

For

For

7 Authorize Reissuance of Repurchased Shares

For

Against

For

For

1.1 Elect Director Raul Alvarez 1.2 Elect Director Angela F. Braly

For

For

1.3 Elect Director Sandra B. Cochran

For

For

1.4 Elect Director Laurie Z. Douglas

For

For

1.5 Elect Director Richard W. Dreiling

For

For

1.6 Elect Director Robert L. Johnson

For

For

1.7 Elect Director Marshall O. Larsen

For

For

1.8 Elect Director James H. Morgan

For

For

1.9 Elect Director Robert A. Niblock

For

For

1.10 Elect Director Bertram L. Scott

For

For

1.11 Elect Director Eric C. Wiseman

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Deloitte & Touche LLP as Auditors

For

For

5 Assess Climate Benefits and Feasibility of Adopting Quantitative Renewable Production Goals

Against

Against

1 Approve Annual Report, Financial Statements, and Allocation of Income, Including Dividends of RUB 120 per Share

For

For

2.1 Elect Vagit Alekperov as Director

None

Against

Votes to favour our preferred candidates

2.2 Elect Viktor Blazheev as Director

None

Against

Votes to favour our preferred candidates

2.3 Elect Toby Gati as Director

None

For

Votes to favour our preferred candidates

2.4 Elect Valery Grayfer as Director

None

Against

Votes to favour our preferred candidates

2.5 Elect Igor Ivanov as Director

None

Against

Votes to favour our preferred candidates

2.6 Elect Ravil Maganov as Director

None

Against

Votes to favour our preferred candidates

2.7 Elect Roger Munnings as Director

None

For

Votes to favour our preferred candidates

2.8 Elect Richard Matzke as Director

None

Against

Votes to favour our preferred candidates

Elect 11 Directors by Cumulative Voting

190

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.9 Elect Nikolay Nikolaev as Director

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

Votes to favour our preferred candidates

2.10 Elect Ivan Pictet as Director

None

For

Votes to favour our preferred candidates

2.11 Elect Leonid Fedun as Director

None

Against

Votes to favour our preferred candidates

2.12 Elect Lubov Khoba as Director

None

Against

Votes to favour our preferred candidates

Elect Three Members of Audit Commission

Lululemon Athletica Inc.

M.P. Evans Group plc

191

08/06/2017 USA

09/06/2017 United Kingdom

Annual

Annual

3.1 Elect Ivan Vrublevsky as Member of Audit Commission

For

For

3.2 Elect Pavel Suloyev as Member of Audit Commission

For

For

3.3 Elect Aleksandr Surkov as Member of Audit Commission

For

For

4.1 Approve Remuneration of Directors for Fiscal 2016

For

For

4.2 Approve Remuneration of New Directors for Fiscal 2017

For

For

5.1 Approve Remuneration of Members of Audit Commission for Fiscal 2016

For

For

5.2 Approve Remuneration of New Members of Audit Commission for Fiscal 2017

For

For

6 Ratify KPMG as Auditor

For

For

7 Amend Charter

For

For

8 Amend Regulations on General Meetings

For

For

9 Amend Regulations on Board of Directors

For

For

10 Approve Related-Party Transaction Re: Liability Insurance for Directors ,Executives, and Companies

For

For

1a Elect Director Michael Casey

For

For

1b Elect Director Glenn Murphy

For

For

1c Elect Director David M. Mussafer

For

For

1d Elect Director Laurent Potdevin

For

For

2 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

3 Amend Certificate of Incorporation to Clarify Majority-Voting Standard

For

For

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

5 Advisory Vote on Say on Pay Frequency

None

One Year

1 Accept Financial Statements and Statutory Reports

For

For

2 Re-elect Richard Robinow as Director

For

For

3 Re-elect Jock Green-Armytage as Director

For

For

4 Re-elect Philip Fletcher as Director

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Elect Matthew Coulson as Director

For

For

6 Approve Final Dividend

For

For

7 Reappoint PricewaterhouseCoopers LLP as Auditors and Authorise Their Remuneration

For

For

8 Authorise Issue of Equity with Pre-emptive Rights

For

For

9 Authorise Issue of Equity without Pre-emptive Rights

For

For

For

For

10 Authorise Market Purchase of Ordinary Shares M3 Inc

Mack-Cali Realty Corporation

Maeda Road Construction Co. Ltd.

192

29/06/2017 Japan

09/06/2017 USA

29/06/2017 Japan

Annual

Annual

Annual

1.1 Elect Director Tanimura, Itaru

For

For

1.2 Elect Director Tomaru, Akihiko

For

For

1.3 Elect Director Yokoi, Satoshi

For

For

1.4 Elect Director Tsuji, Takahiro

For

For

1.5 Elect Director Tsuchiya, Eiji

For

For

1.6 Elect Director Yoshida, Yasuhiko

For

For

1.7 Elect Director Urae, Akinori

For

For

1.8 Elect Director Yoshida, Kenichiro

For

For

1.1 Elect Director William L. Mack

For

Withhold

Concerns about overall board structure

1.2 Elect Director Alan S. Bernikow

For

For

1.3 Elect Director Irvin D. Reid

For

Withhold

Concerns about overall board structure

1.4 Elect Director Kenneth M. Duberstein

For

Withhold

Concerns about overall board structure

1.5 Elect Director David S. Mack

For

For

1.6 Elect Director Vincent Tese

For

Withhold

Concerns about overall board structure

1.7 Elect Director Nathan Gantcher

For

Withhold

Concerns about overall board structure

1.8 Elect Director Alan G. Philibosian

For

Withhold

Concerns about overall board structure

1.9 Elect Director Rebecca Robertson

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 55

For

For

2.1 Elect Director Okabe, Masatsugu

For

For

2.2 Elect Director Imaeda, Ryozo

For

For

2.3 Elect Director Suzuki, Kanji

For

For

2.4 Elect Director Uchiyama, Hitoshi

For

For

2.5 Elect Director Nishikawa, Hirotaka

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Magnit PJSC

Meeting Date Country

08/06/2017 Russia

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.6 Elect Director Takekawa, Hideya

For

For

2.7 Elect Director Fujii, Kaoru

For

For

2.8 Elect Director Nagumo, Masaji

For

For

2.9 Elect Director Yokomizo, Takashi

For

For

2.10 Elect Director Kajiki, Hisashi

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

Elect Seven Directors by Cumulative Voting 4.1 Elect Aleksandr Aleksandrov as Director

None

For

4.2 Elect Aleksey Pshenichny as Director

None

For

4.3 Elect Dmitry Chenikov as Director

None

For

4.4 Elect Khachatur Pombukhchan as Director

None

For

4.5 Elect Sergey Galitsky as Director

None

For

4.6 Elect Aslan Shkhachemukov as Director

None

For

4.7 Elect Vladimir Gordeychuk as Director

None

For

For

For

Elect Three Members of Audit Commission 5.1 Elect Roman Efimenko as Member of Audit Commission

Mahindra & Mahindra Financial Services 15/06/2017 India Limited

Special

Mahindra & Mahindra Ltd.

13/06/2017 India

Court

Makita Corp.

28/06/2017 Japan

Annual

193

5.2 Elect Irina Tsyplenkova as Member of Audit Commission

For

For

5.3 Elect Lubov Shaguch as Member of Audit Commission

For

For

6 Ratify RAS Auditor

For

For

7 Ratify IFRS Auditor

For

For

1 Approve Increase in Borrowing Powers

For

For

2 Authorize Issuance of Secured or Unsecured Redeemable NonConvertible Debentures Including Subordinated Debentures on Private Placement

For

For

3 Approve Keeping of Registers and Index of Members, Debentureholders and Copies of Annual Returns at the Company's Registrar and Share Transfer Agents

For

For

1 Approve Scheme of Arrangement

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 82

For

For

Postal Ballot

Court-Ordered Meeting for Shareholders

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mandom Corp.

Manulife Holdings Berhad

194

Meeting Date Country

23/06/2017 Japan

02/06/2017 Malaysia

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.1 Elect Director Goto, Masahiko

For

For

2.2 Elect Director Goto, Munetoshi

For

For

2.3 Elect Director Torii, Tadayoshi

For

For

2.4 Elect Director Niwa, Hisayoshi

For

For

2.5 Elect Director Tomita, Shinichiro

For

For

2.6 Elect Director Kaneko, Tetsuhisa

For

For

2.7 Elect Director Ota, Tomoyuki

For

For

2.8 Elect Director Tsuchiya, Takashi

For

For

2.9 Elect Director Yoshida, Masaki

For

For

2.10 Elect Director Omote, Takashi

For

For

2.11 Elect Director Otsu, Yukihiro

For

For

2.12 Elect Director Morita, Akiyoshi

For

For

2.13 Elect Director Sugino, Masahiro

For

For

3 Appoint Statutory Auditor Yamamoto, Fusahiro

For

For

4 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 53

For

For

2.1 Elect Director Nishimura, Motonobu

For

For

2.2 Elect Director Kitamura, Tatsuyoshi

For

For

2.3 Elect Director Koshiba, Shinichiro

For

For

2.4 Elect Director Hibi, Takeshi

For

For

2.5 Elect Director Momota, Masayoshi

For

For

2.6 Elect Director Kameda, Yasuaki

For

For

2.7 Elect Director Nakajima, Satoshi

For

For

2.8 Elect Director Nagao, Satoshi

For

For

3.1 Appoint Statutory Auditor Mizuno, Hiro

For

For

3.2 Appoint Statutory Auditor Tsujimura, Yukihiro

For

For

1 Approve First and Final Dividend

For

For

2 Elect Zaha Rina binti Zahari as Director

For

For

3 Elect Mohd Annuar bin Zaini as Director

For

For

4 Elect Leung Rockson Lok-Shuen as Director

For

For

5 Elect Gopakumar Kurup as Director

For

For

6 Approve Remuneration of Directors for the Financial Year Ended December 31, 2016

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

8 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

9 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

For

10 Approve Renewal of Shareholders' Mandate for Recurrent Related Party Transactions

For

For

11 Approve New Shareholders' Mandate for Recurrent Related Party Transactions

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Elect Gary Lamb as Director

For

For

4 Ratify KPMG Audit LLC as Auditors and Authorise Their Remuneration For

For

5 Authorise Issue of Equity with Pre-emptive Rights

For

For

6 Authorise Issue of Equity without Pre-emptive Rights

For

For

7 Authorise Market Purchase of Ordinary Shares

For

For

8 Approve Cancellation and Reclassification as a Distributable Reserve of the Company's Paid Up Share Capital

For

For

1 Elect Chairman of Meeting; Designate Inspector(s) of Minutes of Meeting

For

Do Not Vote

2 Approve Notice of Meeting and Agenda

For

Do Not Vote

For

Do Not Vote

6 Approve Remuneration Policy And Other Terms of Employment For For Executive Management

Do Not Vote

7 Approval of the Guidelines for Allocation of Options

For

Do Not Vote

8 Approve Remuneration of Directors in the Amount of NOK 1.1 Million for Chairman, NOK 575,000 For Vice Chairman, and NOK 400,000 for Other Directors; Approve Audit Committee Fees

For

Do Not Vote

9 Approve Remuneration of Nomination Committee

For

Do Not Vote

7 Approve Directors' Benefits from January 31, 2017 Until the Next Annual General Meeting

Manx Telecom Plc

Marine Harvest ASA

14/06/2017 Isle of Man

01/06/2017 Norway

Annual

Annual

To prevent shareblocking

3 Receive President's Report 4 Accept Financial Statements and Statutory Reports; Approve Allocation of Income 5 Discuss Company's Corporate Governance Statement

195

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 10 Approve Remuneration of Auditors

Martin Currie Global Portfolio Trust plc

Marubeni Corp.

196

06/06/2017 United Kingdom

23/06/2017 Japan

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

Do Not Vote

11a Elect Ole-Eirik Leroy as Director

For

Do Not Vote

11b Elect Lisbet Naero as Director

For

Do Not Vote

11c Elect Orjan Svanevik as Director

For

Do Not Vote

12 Elect Members of Nominating Committee

For

Do Not Vote

13 Authorize Board to Declare Quarterly Dividends

For

Do Not Vote

14 Authorize Board to Distribute Dividends

For

Do Not Vote

15 Authorize Share Repurchase Program and Reissuance of Repurchased Shares

For

Do Not Vote

16 Approve Creation of NOK 367.6 Million Pool of Capital without Preemptive Rights

For

Do Not Vote

17 Approve Issuance of Convertible Bonds without Preemptive Rights up to Aggregate Nominal Amount of NOK 3.20 Billion

For

Do Not Vote

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Elect Marian Glen as Director

For

For

5 Elect Gary Le Sueur as Director

For

For

6 Reappoint Ernst & Young LLP as Auditors

For

For

7 Authorise Board to Fix Remuneration of Auditors

For

For

8 Authorise Issue of Equity with Pre-emptive Rights

For

For

9 Authorise Market Purchase of Ordinary Shares

For

For

10 Authorise Issue of Equity without Pre-emptive Rights

For

For

11 Authorise Directors to Sell Treasury Shares for Cash

For

For

12 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Asada, Teruo

For

For

1.2 Elect Director Kokubu, Fumiya

For

For

1.3 Elect Director Akiyoshi, Mitsuru

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.4 Elect Director Yamazoe, Shigeru

26/06/2017 Japan

Annual

23/06/2017 Japan

Annual

197

27/06/2017 USA

Annual

For

For

For

For

For

1.7 Elect Director Kitabata, Takao

For

For

1.8 Elect Director Takahashi, Kyohei

For

For

1.9 Elect Director Fukuda, Susumu

For

For

For

For

2.1 Appoint Statutory Auditor Gunji, Kazuro

For

For

2.2 Appoint Statutory Auditor Hatchoji, Takashi

For

For

2.3 Appoint Statutory Auditor Yoneda, Tsuyoshi

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 17 2.1 Elect Director Aoi, Hiroshi

For

For

2.2 Elect Director Horiuchi, Koichiro

For

For

2.3 Elect Director Okajima, Etsuko

For

For

2.4 Elect Director Muroi, Masahiro

For

For

2.5 Elect Director Nakamura, Masao

For

For

2.6 Elect Director Ishii, Tomo

For

For

2.7 Elect Director Kato, Hirotsugu

For

For

For

For

1.1 Elect Director Suzuki, Hiroyuki

For

For

1.2 Elect Director Yoshimura, Yoshinori

For

For

1.3 Elect Director Horikawa, Daiji

For

For

1.4 Elect Director Meguro, Yoshitaka

For

For

1.5 Elect Director Nakano, Kenjiro

For

For

1.6 Elect Director Ushino, Kenichiro

For

For

2 Appoint Statutory Auditor Okumura, Masuo Mastercard Incorporated

For

1.5 Elect Director Minami, Hikaru

3 Appoint Alternate Statutory Auditor Nozaki, Akira Maruichi Steel Tube Ltd.

Vote Instruction Voter Rationale

1.6 Elect Director Yabe, Nobuhiro

1.10 Elect Director Okina, Yuri

Marui Group Co. Ltd.

Mgmt Rec

For

For

1a Elect Director Richard Haythornthwaite

For

For

1b Elect Director Ajay Banga

For

For

1c Elect Director Silvio Barzi

For

For

1d Elect Director David R. Carlucci

For

For

1e Elect Director Steven J. Freiberg

For

For

1f Elect Director Julius Genachowski

For

For

1g Elect Director Merit E. Janow

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1h Elect Director Nancy J. Karch

Matsumotokiyoshi Holdings Co Ltd

29/06/2017 Japan

Annual

198

Annual

For

For

1i Elect Director Oki Matsumoto

For

For

For

For

1k Elect Director Jose Octavio Reyes Lagunes

For

For

1l Elect Director Jackson Tai

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Amend Omnibus Stock Plan

For

Against

5 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

6 Report on Gender Pay Gap

Against

For

1 Approve Allocation of Income, with a Final Dividend of JPY 50

For

For

2 Amend Articles to Amend Provisions on Number of Directors

For

For

3.1 Elect Director Matsumoto, Namio

For

For

3.2 Elect Director Matsumoto, Kiyo

For

For

3.3 Elect Director Narita, Kazuo

For

For

3.4 Elect Director Matsumoto, Takashi

For

For

3.5 Elect Director Obe, Shingo

For

For

3.6 Elect Director Ishibashi, Akio

For

For

3.7 Elect Director Matsumoto, Tetsuo

For

For

3.8 Elect Director Oya, Masahiro

For

For

3.9 Elect Director Kobayashi, Ryoichi

16/06/2017 Jersey

Vote Instruction Voter Rationale

1j Elect Director Rima Qureshi

For

For

For

For

4 Appoint Alternate Statutory Auditor Seno, Yoshiaki

For

For

5 Approve Compensation Ceiling for Directors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Re-elect Jacques-Franck Dossin as Director

For

For

3 Re-elect Tiew Soon Aik as Director

For

For

4 Ratify Crowe Clark Whitehill LLP as Auditors

For

For

5 Authorise Board to Fix Remuneration of Auditors

For

For

6 Authorise Issue of Equity with Pre-emptive Rights

For

For

7 Authorise Issue of Equity without Pre-emptive Rights

For

For

3.10 Elect Director Matsushita, Isao

MayAir Group Plc

Mgmt Rec

Concerns about linkage between pay and performance Concerns about linkage between pay and performance Proposal encourages enhanced employment approach and diversity

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 8 Authorise Market Purchase of Ordinary Shares

Mazda Motor Corp.

28/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 20 2.1 Elect Director Nakamine, Yuji

Mears Group plc

199

07/06/2017 United Kingdom

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

For

For

2.2 Elect Director Inamoto, Nobuhide

For

For

2.3 Elect Director Ono, Mitsuru

For

For

2.4 Elect Director Sakai, Ichiro

For

For

2.5 Elect Director Jono, Kazuaki

For

For

3.1 Appoint Statutory Auditor Yasuda, Masahiro

For

For

3.2 Appoint Statutory Auditor Hirasawa, Masahide

For

Against

3.3 Appoint Statutory Auditor Tamano, Kunihiko

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Approve Executive Incentive Plan

For

For

5 Approve Share Incentive Plan

For

For

6 Reappoint Grant Thornton UK LLP as Auditors and Authorise the Board to Determine Their Remuneration

For

For

7 Approve Final Dividend

For

For

8 Re-elect Bob Holt as Director

For

For

9 Re-elect David Miles as Director

For

For

10 Re-elect Andrew Smith as Director

For

For

11 Re-elect Alan Long as Director

For

For

12 Re-elect Peter Dicks as Director

For

For

13 Re-elect Geraint Davies as Director

For

For

14 Re-elect Julia Unwin as Director

For

For

15 Elect Roy Irwin as Director

For

For

16 Elect Jason Burt as Director

For

For

17 Authorise Issue of Equity with Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights

For

For

19 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

20 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Mebuki Financial Group Inc.

Meeting Date Country 28/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text 1 Amend Articles to Clarify Term of Directors Appointed to Fill Vacancies - Reflect Changes in Law 2.1 Elect Director Terakado, Kazuyoshi

MediaTek Inc.

15/06/2017 Taiwan

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

2.2 Elect Director Matsushita, Masanao

For

For

2.3 Elect Director Sakamoto, Hideo

For

For

2.4 Elect Director Horie, Yutaka

For

For

2.5 Elect Director Sasajima, Ritsuo

For

For

2.6 Elect Director Shimizu, Kazuyuki

For

For

2.7 Elect Director Murashima, Eiji

For

For

3 Elect Alternate Director and Audit Committee Member Goto, Naoki For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Approve Amendments to Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6.1 Elect Rick Tsai with ID No. A102354XXX as Non-independent Director

For

For

6.2 Elect Ming Je Tang with ID No. A100065XXX as Independent Director

For

For

7 Approve Release of Restrictions of Competitive Activities of Directors

For

For

8 Other Business

None

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Appoint Grant Thornton UK LLP as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

4 Elect John Graham as Director

For

For

5 Elect Stephen Davies as Director

For

For

6 Elect Anthony Lee as Director

For

For

7 Elect Anand Jain as Director

For

For

8 Elect Roy Davis as Director

For

For

9 Elect Stephen Whittern as Director

ELECT NON-INDEPENDENT DIRECTOR AND INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING

Medica Group PLC

200

28/06/2017 United Kingdom

Annual

For

For

10 Elect Michael Bewick as Director

For

For

11 Approve Remuneration Report

For

For

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Medipal Holdings Corp

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Another Capital Investment

For

15 Authorise Market Purchase of Ordinary Shares

For

For

16 Authorise the Company to Use Electronic Communications

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Watanabe, Shuichi

For

For

1.2 Elect Director Chofuku, Yasuhiro

For

For

1.3 Elect Director Yoda, Toshihide

For

For

1.4 Elect Director Sakon, Yuji

For

For

1.5 Elect Director Hasegawa, Takuro

For

For

1.6 Elect Director Watanabe, Shinjiro

For

For

1.7 Elect Director Ninomiya, Kunio

For

For

1.8 Elect Director Kawanobe, Michiko

For

For

1.9 Elect Director Kagami, Mitsuko

For

For

1.10 Elect Director Asano, Toshio Medy-Tox Inc. Mega Financial Holding Co. Ltd.

201

13/06/2017 South Korea 16/06/2017 Taiwan

Special Annual

For

For

2 Appoint Statutory Auditor Toyoda, Tomoyasu

For

Against

1 Appoint Cheon Yeong-ik as an Internal Auditor

For

For

2 Amend Articles of Incorporation

For

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Approve Release of Restrictions of Competitive Activities of Ministry For of Finance

For

5 Approve Release of Restrictions of Competitive Activities of Director For Chao Shun Chang, a Representative of Ministry of Finance

For

6 Approve Release of Restrictions of Competitive Activities of Director For Li Yen Yang, a Representative of Ministry of Finance

For

7 Approve Release of Restrictions of Competitive Activities of Director For Chiu Fa Tsai, a Representative of Ministry of Finance

For

8 Approve Release of Restrictions of Competitive Activities of Bank of For Taiwan Co., Ltd.

For

Concerns about independence Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

9 Approve Release of Restrictions of Competitive Activities of Director For Ye Chin Chiou, a Representative of Bank of Taiwan Co., Ltd. 10 Approve Release of Restrictions of Competitive Activities of Independent Director Tsun Siou Li MegaFon PJSC

30/06/2017 Russia

Annual

Vote Instruction Voter Rationale For

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

4.1 Elect Robert Andersson as Director

None

Against

Votes to favour our preferred candidates

4.2 Elect Henriette Wendt as Director

None

Against

Votes to favour our preferred candidates

4.3 Elect Boris Dobrodeev as Director

None

Against

Votes to favour our preferred candidates

4.4 Elect Aleksandr Esikov as Director

None

Against

Votes to favour our preferred candidates

4.5 Elect Nikolay Krylov Director

None

Against

Votes to favour our preferred candidates

4.6 Elect Paul Myners as Director

None

For

Votes to favour our preferred candidates

4.7 Elect Douglas Lubbe as Director

None

Against

Votes to favour our preferred candidates

4.8 Elect Hannu-Matti Makinen as Director

None

Against

Votes to favour our preferred candidates

4.9 Elect Pavel Mitrofanov as Director

None

Against

Votes to favour our preferred candidates

4.10 Elect Ardavan Moshiri as Director

None

Against

Votes to favour our preferred candidates

Meeting for GDR Holders

Elect Seven Directors by Cumulative Voting

Megaworld Corporation

16/06/2017 Philippines

Annual

4.11 Elect Per Emil Nilsson as Director

None

Against

Votes to favour our preferred candidates

4.12 Elect Jan Rudberg as Director

None

Against

Votes to favour our preferred candidates

4.13 Elect Ingrid Stenmark as Director

None

Against

Votes to favour our preferred candidates

4.14 Elect Vladimir Streshinsky as Director

None

Against

Votes to favour our preferred candidates

5 Fix Size of Management Board; Elect Members of Management Board

For

For

6 Ratify Auditor

For

For

7 Elect Members of Audit Commission

For

For

8 Approve Company's Membership in Big Data Value Association

For

For

9 Approve Company's Membership in Internet of Things Association

For

For

3 Approve Minutes of the Previous Annual Meeting

For

For

5 Approve Amendment of Principal Office Address

For

For

6 Appoint External Auditors

For

For

7 Ratify Acts and Resolutions of the Board of Directors, Board Committees and Management

For

For

Elect 7 Directors by Cumulative Voting

202

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Megmilk Snow Brand Co., Ltd.

Meeting Date Country

28/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8a Elect Andrew L. Tan as Director

For

For

8b Elect Katherine L. Tan as Director

For

For

8c Elect Kingson U. Sian as Director

For

For

8d Elect Enrique Santos L. Sy as Director

For

For

8e Elect Jesus B. Varela as Director

For

For

8f Elect Gerardo C. Garcia as Director

For

For

8g Elect Roberto S. Guevara as Director

For

For

1.1 Elect Director Nishio, Keiji

For

For

1.2 Elect Director Namba, Takao

For

For

1.3 Elect Director Ishida, Takahiro

For

For

1.4 Elect Director Kosaka, Shinya

For

For

1.5 Elect Director Tsuchioka, Hideaki

For

For

1.6 Elect Director Konishi, Hiroaki

For

For

1.7 Elect Director Shirohata, Katsuyuki

For

For

1.8 Elect Director Koitabashi, Masato

For

For

1.9 Elect Director Motoi, Hideki

For

For

For

For

2.1 Elect Alternate Director and Audit Committee Member Omori, Setsuya

For

For

2.2 Elect Alternate Director and Audit Committee Member Hattori, Akito

For

For

For

For

1.10 Elect Director Anan, Hisa

3 Appoint Deloitte Touche Tohmatsu LLC as New External Audit Firm Meiji Holdings Co Ltd

29/06/2017 Japan

Annual

1.1 Elect Director Matsuo, Masahiko

For

For

1.2 Elect Director Saza, Michiro

For

For

1.3 Elect Director Shiozaki, Koichiro

For

For

1.4 Elect Director Furuta, Jun

For

For

1.5 Elect Director Iwashita, Shuichi

For

For

1.6 Elect Director Kawamura, Kazuo

For

For

1.7 Elect Director Kobayashi, Daikichiro

For

For

1.8 Elect Director Sanuki, Yoko

For

For

1.9 Elect Director Iwashita, Tomochika

For

For

For

For

2.1 Appoint Statutory Auditor Matsuzumi, Mineo

For

For

2.2 Appoint Statutory Auditor Tanaka, Hiroyuki

For

For

1.10 Elect Director Murayama, Toru

203

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Merlin Entertainments plc

MetLife, Inc.

204

Meeting Date Country

13/06/2017 United Kingdom

13/06/2017 USA

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.3 Appoint Statutory Auditor Watanabe, Hajime

For

For

2.4 Appoint Statutory Auditor Ando, Makoto

For

For

3 Appoint Alternate Statutory Auditor Imamura, Makoto

For

For

4 Approve Equity Compensation Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Approve Remuneration Policy

For

For

4 Approve Remuneration Report

For

Against

5 Re-elect Sir John Sunderland as Director

For

For

6 Re-elect Nick Varney as Director

For

For

7 Elect Anne-Francoise Nesmes as Director

For

For

8 Re-elect Charles Gurassa as Director

For

For

9 Re-elect Ken Hydon as Director

For

For

10 Re-elect Fru Hazlitt as Director

For

For

11 Re-elect Soren Thorup Sorensen as Director

For

For

12 Re-elect Trudy Rautio as Director

For

For

13 Re-elect Rachel Chiang as Director

For

For

14 Reappoint KPMG LLP as Auditors

For

For

15 Authorise Board to Fix Remuneration of Auditors

For

For

16 Authorise EU Political Donations and Expenditure

For

For

17 Authorise Issue of Equity with Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights

For

For

19 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

20 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Cheryl W. Grise

For

For

1.2 Elect Director Carlos M. Gutierrez

For

For

1.3 Elect Director David L. Herzog

For

For

1.4 Elect Director R. Glenn Hubbard

For

For

1.5 Elect Director Steven A. Kandarian

For

For

1.6 Elect Director Alfred F. Kelly, Jr.

For

For

1.7 Elect Director Edward J. Kelly, III

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.8 Elect Director William E. Kennard 1.9 Elect Director James M. Kilts

Micro-Star International Co., Ltd.

Minebea Mitsumi Inc.

15/06/2017 Taiwan

29/06/2017 Japan

Annual

Annual

205

23/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

For

For

1.10 Elect Director Catherine R. Kinney

For

For

1.11 Elect Director Denise M. Morrison

For

For

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Reduce Ownership Threshold for Shareholders to Call Special Meeting

Against

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Cash Dividend Distribution from Capital Reserve

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Other Business

None

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 7

For

For

2.1 Elect Director Kainuma, Yoshihisa

For

For

2.2 Elect Director Moribe, Shigeru

For

For

2.3 Elect Director Iwaya, Ryozo

For

For

2.4 Elect Director Uchibori, Tamio

For

For

2.5 Elect Director Tsuruta, Tetsuya

For

For

2.6 Elect Director None, Shigeru

For

For

2.7 Elect Director Yoda, Hiromi

For

For

2.8 Elect Director Uehara, Shuji

For

For

2.9 Elect Director Kagami, Michiya

For

For

For

For

2.10 Elect Director Aso, Hiroshi

Miraca Holdings Inc

Mgmt Rec

2.11 Elect Director Murakami, Koshi

For

For

2.12 Elect Director Matsuoka, Takashi

For

For

3 Approve Compensation Ceiling for Directors

For

For

4 Approve Takeover Defense Plan (Poison Pill)

For

Against

For

For

1.1 Elect Director Takeuchi, Shigekazu 1.2 Elect Director Suzuki, Hiromasa

For

For

1.3 Elect Director Ishiguro, Miyuki

For

For

1.4 Elect Director Ito, Ryoji

For

For

Concerns about linkage between pay and performance Proposal enhances board accountability

Substance of resolution unclear at time of voting

Proposal risks entrenching management

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.5 Elect Director Takaoka, Kozo

MISUMI Group Inc.

15/06/2017 Japan

Annual

MITIE Group PLC

12/06/2017 United Kingdom

Special

Mitsubishi Chemical Holdings Corp.

27/06/2017 Japan

Annual

Mitsubishi Corp.

206

23/06/2017 Japan

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1.6 Elect Director Yamauchi, Susumu

For

For

1.7 Elect Director Amano, Futomichi

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 9.1 2.1 Elect Director Saegusa, Tadashi

For

For

2.2 Elect Director Ono, Ryusei

For

For

2.3 Elect Director Ikeguchi, Tokuya

For

For

2.4 Elect Director Otokozawa, Ichiro

For

For

2.5 Elect Director Numagami, Tsuyoshi

For

For

2.6 Elect Director Ogi, Takehiko

For

For

2.7 Elect Director Nishimoto, Kosuke

For

For

3.1 Appoint Statutory Auditor Nozue, Juichi

For

For

3.2 Appoint Statutory Auditor Aono, Nanako

For

For

For

For

1 Amend the Borrowing Limit Under the Company's Articles of Association 1.1 Elect Director Kobayashi, Yoshimitsu

For

For

1.2 Elect Director Ochi, Hitoshi

For

For

1.3 Elect Director Glenn H. Fredrickson

For

For

1.4 Elect Director Umeha, Yoshihiro

For

For

1.5 Elect Director Urata, Hisao

For

For

1.6 Elect Director Ohira, Noriyoshi

For

For

1.7 Elect Director Kosakai, Kenkichi

For

For

1.8 Elect Director Yoshimura, Shushichi

For

For

1.9 Elect Director Kikkawa, Takeo

For

For

1.10 Elect Director Ito, Taigi

For

For

1.11 Elect Director Watanabe, Kazuhiro

For

For

1.12 Elect Director Kunii, Hideko

For

For

1.13 Elect Director Hashimoto, Takayuki

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 50 2.1 Elect Director Kobayashi, Ken

For

For

2.2 Elect Director Kakiuchi, Takehiko

For

For

2.3 Elect Director Tanabe, Eiichi

For

For

2.4 Elect Director Hirota, Yasuhito

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.5 Elect Director Masu, Kazuyuki

Mitsubishi Estate Co Ltd

29/06/2017 Japan

29/06/2017 Japan

Annual

Annual

For

For

2.6 Elect Director Toide, Iwao

For

For

For

For

2.8 Elect Director Sakakida, Masakazu

For

For

2.9 Elect Director Konno, Hidehiro

For

For

For

For

2.11 Elect Director Omiya, Hideaki

For

For

2.12 Elect Director Oka, Toshiko

For

For

2.13 Elect Director Saiki, Akitaka

For

For

3 Approve Annual Bonus

For

For

For

For

1.1 Elect Director Yamanishi, Kenichiro 1.2 Elect Director Sakuyama, Masaki

For

For

1.3 Elect Director Yoshimatsu, Hiroki

For

For

1.4 Elect Director Okuma, Nobuyuki

For

For

1.5 Elect Director Matsuyama, Akihiro

For

For

1.6 Elect Director Ichige, Masayuki

For

For

1.7 Elect Director Ohashi, Yutaka

For

For

1.8 Elect Director Yabunaka, Mitoji

For

For

1.9 Elect Director Obayashi, Hiroshi

For

For

1.10 Elect Director Watanabe, Kazunori

For

For

1.11 Elect Director Nagayasu, Katsunori

For

Against

1.12 Elect Director Koide, Hiroko

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 11 2.1 Elect Director Sugiyama, Hirotaka

For

For

2.2 Elect Director Yoshida, Junichi

For

For

2.3 Elect Director Kato, Jo

For

For

2.4 Elect Director Tanisawa, Junichi

For

For

2.5 Elect Director Katayama, Hiroshi

For

For

2.6 Elect Director Nishigai, Noboru

For

For

2.7 Elect Director Yanagisawa, Yutaka

For

For

2.8 Elect Director Okusa, Toru

For

For

2.9 Elect Director Matsuhashi, Isao

For

For

For

For

2.10 Elect Director Ebihara, Shin

207

Vote Instruction Voter Rationale

2.7 Elect Director Murakoshi, Akira

2.10 Elect Director Nishiyama, Akihiko

Mitsubishi Electric Corp.

Mgmt Rec

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mitsubishi Gas Chemical Co. Inc.

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.11 Elect Director Tomioka, Shu

For

For

2.12 Elect Director Shirakawa, Masaaki

For

For

2.13 Elect Director Nagase, Shin

For

For

2.14 Elect Director Egami, Setsuko

For

For

2.15 Elect Director Taka, Iwao

For

For

For

For

1.1 Elect Director Sakai, Kazuo 1.2 Elect Director Kurai, Toshikiyo

For

For

1.3 Elect Director Kawa, Kunio

For

For

1.4 Elect Director Inamasa, Kenji

For

For

1.5 Elect Director Jono, Masahiro

For

For

1.6 Elect Director Sato, Yasuhiro

For

For

1.7 Elect Director Fujii, Masashi

For

For

1.8 Elect Director Yoshida, Susumu

For

For

1.9 Elect Director Mizukami, Masamichi 1.10 Elect Director Inari, Masato

Mitsubishi Heavy Industries, Ltd.

22/06/2017 Japan

Annual

For For

1.11 Elect Director Tanigawa, Kazuo

For

For

1.12 Elect Director Sato, Tsugio

For

For

2 Appoint Alternate Statutory Auditor Kanzaki, Hiroaki

For

For

3 Approve Pension Reserve Plan for Directors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Omiya, Hideaki

For

For

3.2 Elect Director Miyanaga, Shunichi

For

For

3.3 Elect Director Koguchi, Masanori

For

For

3.4 Elect Director Nayama, Michisuke

For

For

3.5 Elect Director Shinohara, Naoyuki

For

For

3.6 Elect Director Kobayashi, Ken

For

For

4.1 Elect Director and Audit Committee Member Izumisawa, Seiji

For

For

4.2 Elect Director and Audit Committee Member Goto, Toshifumi

For

For

4.3 Elect Director and Audit Committee Member Kuroyanagi, Nobuo

For

Against

4.4 Elect Director and Audit Committee Member Christina Ahmadjian

For

For

4.5 Elect Director and Audit Committee Member Ito, Shinichiro

For

For

For

For

5 Appoint KPMG AZSA LLC as New External Audit Firm

208

For For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Mitsubishi Logistics Corp.

Mitsubishi Materials Corp.

Mitsubishi Motors Corp.

209

Meeting Date Country 29/06/2017 Japan

28/06/2017 Japan

23/06/2017 Japan

Meeting Type Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 8

3.1 Elect Director Okamoto, Tetsuro

For

Against

Holding executives accountable for ongoing poor returns

3.2 Elect Director Matsui, Akio

For

Against

Holding executives accountable for ongoing poor returns

3.3 Elect Director Miyazaki, Takanori

For

For

3.4 Elect Director Ohara, Yoshiji

For

For

3.5 Elect Director Hiraoka, Noboru

For

For

3.6 Elect Director Shinohara, Fumihiro

For

For

3.7 Elect Director Wakabayashi, Hitoshi

For

For

3.8 Elect Director Fujikura, Masao

For

For

3.9 Elect Director Makihara, Minoru

For

For

3.10 Elect Director Miki, Shigemitsu

For

For

3.11 Elect Director Miyahara, Koji

For

For

3.12 Elect Director Saito, Yasushi

For

For

3.13 Elect Director Takami, Tomohiko

For

For

3.14 Elect Director Kimura, Shinji

For

For For

4 Approve Annual Bonus

For

1.1 Elect Director Yao, Hiroshi

For

For

1.2 Elect Director Takeuchi, Akira

For

For

1.3 Elect Director Iida, Osamu

For

For

1.4 Elect Director Ono, Naoki

For

For

1.5 Elect Director Shibano, Nobuo

For

For

1.6 Elect Director Suzuki, Yasunobu

For

For

1.7 Elect Director Okamoto, Yukio

For

For

1.8 Elect Director Tokuno, Mariko

For

For

1.9 Elect Director Watanabe, Hiroshi

For

For

2.1 Appoint Statutory Auditor Fukui, Soichi

For

For

2.2 Appoint Statutory Auditor Sato, Hiroshi

For

Against

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Number of Directors - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings - Amend Provisions on Number of Statutory Auditors

Mitsubishi Shokuhin Co Ltd.

26/06/2017 Japan

Annual

Annual

For

For

For

For

Against

3.3 Elect Director Yamashita, Mitsuhiko

For

For

3.4 Elect Director Shiraji, Kozo

For

For

3.5 Elect Director Ikeya, Koji

For

For

3.6 Elect Director Sakamoto, Harumi

For

For

3.7 Elect Director Miyanaga, Shunichi

For

For

3.8 Elect Director Kobayashi, Ken

For

For

3.9 Elect Director Isayama, Takeshi

For

For

3.10 Elect Director Kawaguchi, Hitoshi

For

For

3.11 Elect Director Karube, Hiroshi

For

For

For

For

2.1 Elect Director Moriyama, Toru

1 Approve Allocation of Income, with a Final Dividend of JPY 25

For

Against

2.2 Elect Director Suzuki, Daiichiro

For

For

2.3 Elect Director Furuya, Toshiki

For

For

2.4 Elect Director Sugiyama, Yoshihiko

For

For

2.5 Elect Director Enomoto, Koichi

For

For

2.6 Elect Director Mori, Shinsaku

For

For

2.7 Elect Director Onose, Takashi

For

For

2.8 Elect Director Kyoya, Yutaka

For

For

For

For

For

For

3.1 Appoint Statutory Auditor Enomoto, Takeshi

For

For

3.2 Appoint Statutory Auditor Kamigaki, Seisui

For

For

3.3 Appoint Statutory Auditor Shimazu, Yoshihiro

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 28 2.1 Elect Director Mitsuka, Masayuki

210

For

3.1 Elect Director Carlos Ghosn

2.9 Elect Director Kakizaki, Tamaki

21/06/2017 Japan

Vote Instruction Voter Rationale

3.2 Elect Director Masuko, Osamu

2.10 Elect Director Teshima, Nobuyuki

Mitsubishi Tanabe Pharma Corp.

Mgmt Rec

For

For

For

For

2.2 Elect Director Kobayashi, Takashi

For

For

2.3 Elect Director Ishizaki, Yoshiaki

For

For

Concerns about candidate

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mitsubishi UFJ Financial Group

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Murakami, Seiichi

For

For

2.5 Elect Director Tabaru, Eizo

For

For

2.6 Elect Director Tanaka, Takashi

For

For

2.7 Elect Director Hattori, Shigehiko

For

For

2.8 Elect Director Iwane, Shigeki

For

For

2.9 Elect Director Kamijo, Tsutomu

For

For

3 Appoint Statutory Auditor Kikuchi, Matsuo

For

For

4 Appoint Alternate Statutory Auditor Ichida, Ryo

For

Against

5 Approve Trust-Type Equity Compensation Plan

For

For

6 Approve Compensation Ceiling for Statutory Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 9

For

For

For

For

2.1 Elect Director Kawakami, Hiroshi 2.2 Elect Director Kawamoto, Yuko

For

For

2.3 Elect Director Matsuyama, Haruka

For

For

2.4 Elect Director Toby S. Myerson

For

For

2.5 Elect Director Okuda, Tsutomu

For

For

2.6 Elect Director Sato, Yukihiro

For

Against

2.7 Elect Director Tarisa Watanagase

For

For

2.8 Elect Director Yamate, Akira

For

For

2.9 Elect Director Shimamoto, Takehiko 2.10 Elect Director Okamoto, Junichi

211

For

For

For

For

2.11 Elect Director Sono, Kiyoshi

For

For

2.12 Elect Director Nagaoka, Takashi

For

For

2.13 Elect Director Ikegaya, Mikio

For

For

2.14 Elect Director Mike, Kanetsugu

For

For

2.15 Elect Director Hirano, Nobuyuki

For

For

2.16 Elect Director Kuroda, Tadashi

For

For

2.17 Elect Director Tokunari, Muneaki

For

For

2.18 Elect Director Yasuda, Masamichi

Concerns about independence

Concerns about overall board structure

For

For

3 Amend Articles to Require Individual Compensation Disclosure for Directors

Against

For

Proposal enhances transparency

4 Amend Articles to Separate Chairman of the Board and CEO

Against

For

Proposal enhances board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mitsubishi UFJ Lease & Finance Co.

212

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Amend Articles to Create System that Enables Employees to be Reinstated after Running for Office in National Elections, Local Assembly Elections, and Elections for the Heads of Local Governments

Against

Against

6 Amend Articles to Require Company to Urge Subsidiaries Owning Shares in Allied Firms to Vote Shares Appropriately

Against

For

7 Amend Articles to Disclose Director Training Policy

Against

Against

8 Amend Articles to Add Provisions on Communications and Responses between Shareholders and Directors

Against

Against

9 Amend Articles to Add Provisions Allowing Shareholders to Nominate Director Candidates to Nomination Committee and Its Equal Treatment

Against

Against

10 Amend Articles to Allow Inclusion of Shareholder Proposals in Convocation Notice with the Upper Limit of 100 at Minimum

Against

Against

11 Amend Articles to Establish Liaison for Reporting Concerns to Audit Committee

Against

Against

12 Amend Articles to Mandate Holding of Meetings Consisting Solely of Outside Directors

Against

Against

13 Amend Articles to Add Provisions on Recruitment and Offer of Senior Positions to Women Who Interrupted Their Careers for Childbirth

Against

Against

14 Amend Articles to Prohibit Discriminatory Treatment of Activist Investors

Against

Against

15 Amend Articles to Establish Special Committee on Expressing the Company's Opinion on Recent Actions by Justice Minister Katsutoshi Kaneda

Against

Against

16 Amend Articles to Establish Special Investigation Committee on Loans to K.K. Kenko

Against

Against

17 Remove Director Haruka Matsuyama from Office

Against

Against

18 Appoint Shareholder Director Nominee Lucian Bebchuk in place of Haruka Matsuyama

Against

Against

19 Amend Articles to Hand over Petition Calling for Refraining of Strongly Pursuing Negative Interest Rate Policy to Governor of the Bank of Japan

Against

Against

For

For

1 Amend Articles to Amend Business Lines 2.1 Elect Director Shiraishi, Tadashi

For

For

2.2 Elect Director Yanai, Takahiro

For

For

2.3 Elect Director Urabe, Toshimitsu

For

For

Proposal encourages enhanced stewardship

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.4 Elect Director Sakata, Yasuyuki

21/06/2017 Japan

Annual

213

Annual

For

For

For

For

For

2.7 Elect Director Sato, Naoki

For

For

2.8 Elect Director Aoki, Katsuhiko

For

For

2.9 Elect Director Yamashita, Hiroto

For

For

For

For

2.11 Elect Director Minoura, Teruyuki

For

For

2.12 Elect Director Haigo, Toshio

For

Against

Concerns about candidate

2.13 Elect Director Kuroda, Tadashi

For

Against

Concerns about candidate

2.14 Elect Director Kojima, Kiyoshi

For

For

2.15 Elect Director Yoshida, Shinya

For

For

3.1 Appoint Statutory Auditor Hane, Akira

For

For

3.2 Appoint Statutory Auditor Minagawa, Hiroshi

For

Against

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 30 2.1 Elect Director Iijima, Masami

For

For

2.2 Elect Director Yasunaga, Tatsuo

For

For

2.3 Elect Director Kato, Hiroyuki

For

For

2.4 Elect Director Hombo, Yoshihiro

For

For

2.5 Elect Director Suzuki, Makoto

For

For

2.6 Elect Director Tanaka, Satoshi

For

For

2.7 Elect Director Matsubara, Keigo

For

For

2.8 Elect Director Fujii, Shinsuke

For

For

2.9 Elect Director Kitamori, Nobuaki

27/06/2017 Japan

For

2.5 Elect Director Nonoguchi, Tsuyoshi

2.10 Elect Director Muto, Toshiro

Mitsui Chemicals Inc.

Vote Instruction Voter Rationale

2.6 Elect Director Kobayakawa, Hideki

2.10 Elect Director Kudo, Takeo

Mitsui & Co.

Mgmt Rec

For

For

For

For

2.11 Elect Director Kobayashi, Izumi

For

For

2.12 Elect Director Jenifer Rogers

For

For

2.13 Elect Director Takeuchi, Hirotaka

For

For

2.14 Elect Director Samuel Walsh

For

For

3 Appoint Statutory Auditor Mori, Kimitaka

For

For

4 Approve Compensation Ceilings for Directors and Statutory Auditors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 9

For

For

2 Approve Accounting Transfers

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mitsui Fudosan Co. Ltd.

214

Meeting Date Country

29/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

4 Amend Articles to Amend Business Lines - Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit - Recognize Validity of Board Resolutions in Written or Electronic Format - Indemnify Directors - Indemnify Statutory Auditors

For

For

5.1 Elect Director Tannowa, Tsutomu

For

For

5.2 Elect Director Kubo, Masaharu

For

For

5.3 Elect Director Isayama, Shigeru

For

For

5.4 Elect Director Matsuo, Hideki

For

For

5.5 Elect Director Shimogori, Takayoshi

For

For

5.6 Elect Director Kuroda, Yukiko

For

For

5.7 Elect Director Bada, Hajime

For

For

5.8 Elect Director Tokuda, Hiromi

For

For

6.1 Appoint Statutory Auditor Shimbo, Katsuyoshi

For

For

6.2 Appoint Statutory Auditor Tokuda, Shozo

For

For

7 Approve Annual Bonus

For

For

8 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 18

For

For

2.1 Elect Director Iwasa, Hiromichi

For

For

2.2 Elect Director Komoda, Masanobu

For

For

2.3 Elect Director Kitahara, Yoshikazu

For

For

2.4 Elect Director Fujibayashi, Kiyotaka

For

For

2.5 Elect Director Onozawa, Yasuo

For

For

2.6 Elect Director Sato, Masatoshi

For

For

2.7 Elect Director Ishigami, Hiroyuki

For

For

2.8 Elect Director Yamamoto, Takashi

For

For

2.9 Elect Director Yamashita, Toru

For

For

2.10 Elect Director Egashira, Toshiaki

For

For

2.11 Elect Director Egawa, Masako

For

For

2.12 Elect Director Nogimori, Masafumi

For

For

3 Approve Annual Bonus

For

For

4 Approve Director Retirement Bonus

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Mitsui O.S.K. Lines Ltd.

Mixi Inc

Mizuho Financial Group Inc.

215

Meeting Date Country 27/06/2017 Japan

27/06/2017 Japan

23/06/2017 Japan

Meeting Type Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

2 Amend Articles to Amend Business Lines - Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

3.1 Elect Director Muto, Koichi

For

Against

Holding executives accountable for ongoing poor returns

3.2 Elect Director Ikeda, Junichiro

For

Against

Holding executives accountable for ongoing poor returns

3.3 Elect Director Tanabe, Masahiro

For

For

3.4 Elect Director Takahashi, Shizuo

For

For

3.5 Elect Director Hashimoto, Takeshi

For

For

3.6 Elect Director Maruyama, Takashi

For

For

3.7 Elect Director Matsushima, Masayuki

For

For

3.8 Elect Director Fujii, Hideto

For

For

3.9 Elect Director Katsu, Etsuko

For

For

4 Appoint Statutory Auditor Jitsu, Kenji

For

For

5 Appoint Alternate Statutory Auditor Seki, Isao

For

For

6 Approve Stock Option Plan

For

For

1.1 Elect Director Morita, Hiroki

For

For

1.2 Elect Director Ogino, Yasuhiro

For

For

1.3 Elect Director Kimura, Koki

For

For

1.4 Elect Director Kasahara, Kenji

For

For

1.5 Elect Director Aoyagi, Tatsuya

For

For

1.6 Elect Director Taru, Kosuke

For

For

1.7 Elect Director Shima, Satoshi

For

For

2 Appoint Alternate Statutory Auditor Tsukamoto, Hideo

For

For

1 Amend Articles to Remove Provisions on Non-Common Shares

For

For

2.1 Elect Director Sato, Yasuhiro

For

For

2.2 Elect Director Nishiyama, Takanori

For

For

2.3 Elect Director Iida, Koichi

For

For

2.4 Elect Director Umemiya, Makoto

For

For

2.5 Elect Director Shibata, Yasuyuki

For

For

2.6 Elect Director Aya, Ryusuke

For

For

2.7 Elect Director Funaki, Nobukatsu

For

For

2.8 Elect Director Seki, Tetsuo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.9 Elect Director Kawamura, Takashi

216

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2.10 Elect Director Kainaka, Tatsuo

For

For

2.11 Elect Director Abe, Hirotake

For

For

2.12 Elect Director Ota, Hiroko

For

For

2.13 Elect Director Kobayashi, Izumi

For

For

3 Amend Articles to Restore Shareholder Authority to Vote on Income Against Allocation

For

Proposal enhances shareholder rights

4 Amend Articles to Require Company to Urge Subsidiaries Owning Shares in Allied Firms to Vote Shares Appropriately

Against

For

Proposal enhances stewardship approach

5 Amend Articles to Require Individual Compensation Disclosure for Directors

Against

For

Proposal enhances transparency

6 Amend Articles to Separate Chairman of the Board and CEO

Against

For

Proposal enhances board structure

7 Amend Articles to Create System that Enables Employees to be Reinstated after Running for Office in National Elections, Local Assembly Elections, and Elections for the Heads of Local Governments

Against

For

Proposal enhances employee relations

8 Amend Articles to Disclose Director Training Policy

Against

For

Proposal enhances transparency

9 Amend Articles to Add Provisions on Communications and Responses between Shareholders and Directors

Against

Against

10 Amend Articles to Add Provisions Allowing Shareholders to Nominate Director Candidates to Nomination Committee and Its Equal Treatment

Against

Against

11 Amend Articles to Allow Inclusion of Shareholder Proposals in Convocation Notice with the Upper Limit of 100 at Minimum

Against

Against

12 Amend Articles to Establish Liaison for Reporting Concerns to Audit Committee

Against

Against

13 Amend Articles to Mandate Holding of Meetings Consisting Solely of Outside Directors

Against

Against

14 Amend Articles to Add Provisions on Recruitment and Offer of Senior Positions to Women Who Interrupted Their Careers for Childbirth

Against

Against

15 Amend Articles to Prohibit Discriminatory Treatment of Activist Investors

Against

Against

16 Amend Articles to Establish Special Committee on Expressing the Company's Opinion on Recent Actions by the Minister of Justice

Against

Against

17 Amend Articles to Establish Special Investigation Committee on Frozen Bank Account Issue at Shakujii Branch

Against

Against

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

MMC Norilsk Nickel PJSC

Meeting Date Country

09/06/2017 Russia

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

18 Amend Articles to Establish Special Investigation Committee on Loans

Against

Against

19 Amend Articles to Hand over Petition Calling for Refraining of Strongly Pursuing Negative Interest Rate Policy to Governor of the Bank of Japan

Against

Against

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Consolidated Financial Statements

For

For

4 Approve Allocation of Income and Dividends

For

For

5.1 Elect Sergey Barbashev as Director

None

Against

Votes to favour our preferred candidates

5.2 Elect Aleksey Bashkirov as Director

None

Against

Votes to favour our preferred candidates

5.3 Elect Rushan Bogaudinov as Director

None

Against

Votes to favour our preferred candidates

5.4 Elect Sergey Bratukhin as Director

None

Against

Votes to favour our preferred candidates

5.5 Elect Andrey Bugrov as Director

None

Against

Votes to favour our preferred candidates

5.6 Elect Marianna Zakharova as Director

None

Against

Votes to favour our preferred candidates

5.7 Elect Stalbek Mishakov as Director

None

Against

Votes to favour our preferred candidates

5.8 Elect Gareth Penny as Director

None

For

Votes to favour our preferred candidates

Meeting for ADR Holders

Elect 13 Directors by Cumulative Voting

5.9 Elect Gerhardus Prinsloo as Director 5.10 Elect Maksim Sokov as Director

None

For

Votes to favour our preferred candidates

None

Against

Votes to favour our preferred candidates

5.11 Elect Vladislav Solovyev as Director

None

Against

Votes to favour our preferred candidates

5.12 Elect Sergey Skvortsov as Director

None

For

Votes to favour our preferred candidates

5.13 Elect Robert Edwards as Director

None

For

Votes to favour our preferred candidates

For

For

Elect Five Members of Audit Commisson 6.1 Elect Artur Arustamov as Member of Audit Commission 6.2 Elect Anna Masalova as Member of Audit Commission

For

For

6.3 Elect Georgy Svanidze as Member of Audit Commission

For

For

6.4 Elect Vladimir Shilkov as Members of Audit Commission

For

For

6.5 Elect Elena Yanevich as Member of Audit Commission

For

For

7 Ratify KPMG as RAS Auditor

For

For

8 Ratify KPMG as IFRS Auditor

For

For

9 Approve Remuneration of Directors

For

Against

For

For

10 Approve Remuneration of Members of Audit Commission

217

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Mobile Telesystems PJSC

Meeting Date Country

29/06/2017 Russia

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

11 Approve Related-Party Transactions Re: Indemnification Agreements with Directors and Executives

For

For

12 Approve Related-Party Transaction Re: Liability Insurance for Directors and Executives

For

For

13 Approve New Edition of Charter

For

Against

14 Approve Company's Membership in UN Global Compact Network

For

For

15 Approve Company's Membership in Transport Safety Association

For

For

1.1 Elect Meeting Chairman

For

For

1.2 Resolve to Announce Voting Results and Resolutions on General Meeting

For

For

2.1 Approve Annual Report and Financial Statements

For

For

2.2 Approve Allocation of Income and Dividends RUB 15.60 per Share

For

For

Concerns to protect shareholder interests

Elect Nine Directors by Cumulative Voting 3.1 Elect Aleksandr Gorbunov as Director

None

For

3.2 Elect Andrey Dubovskov as Director

None

For

3.3 Elect Ron Sommer as Director

None

For

3.4 Elect Artyom Zasursky as Director

None

For

3.5 Elect Michel Combes as Director

None

For

3.6 Elect Stanley Miller as Director

None

For

3.7 Elect Vsevolod Rozanov as Director

None

For

3.8 Elect Regina von Flemming as Director

None

For

3.9 Elect Thomas Holtrop as Director

None

For

Elect Three Members of Audit Commission 4.1 Elect Irina Borisenkova as Member of Audit Commission

For

For

4.2 Elect Maksim Mamonov as Member of Audit Commission

For

For

4.3 Elect Anatoly Panarin as Member of Audit Commission

For

For

5 Ratify Deloitte & Touche LLP as Auditor

For

For

6 Approve New Edition of Charter

For

Against

7 Approve New Edition of Regulations on Board of Directors

For

For

8 Approve Reorganization via Acquisition of Subsidiaries

For

For

9 Amend Charter in Connection with Reorganization Proposed under Item 8

For

For

For

For

Concerns to protect shareholder interests

Meeting for ADR Holders 1.1 Elect Meeting Chairman

218

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.2 Resolve to Announce Voting Results and Resolutions on General Meeting

For

For

2 Approve Annual Report, Financial Statements, and Allocation of Income, Including Dividends of RUB 16.60 per Share

For

For

3.1 Elect Aleksandr Gorbunov as Director

None

Against

Votes to favour our preferred candidates

3.2 Elect Andrey Dubovskov as Director

None

Against

Votes to favour our preferred candidates

3.3 Elect Ron Sommer as Director

None

Against

Votes to favour our preferred candidates

3.4 Elect Artyom Zasursky as Director

None

Against

Votes to favour our preferred candidates

3.5 Elect Michel Combes as Director

None

For

Votes to favour our preferred candidates

3.6 Elect Stanley Miller as Director

None

Against

Votes to favour our preferred candidates

3.7 Elect Vsevolod Rozanov as Director

None

Against

Votes to favour our preferred candidates

3.8 Elect Regina von Flemming as Director

None

For

Votes to favour our preferred candidates

3.9 Elect Thomas Holtrop as Director

None

For

Votes to favour our preferred candidates

Elect Nine Directors by Cumulative Voting

Elect Three Members of Audit Commission 4.1 Elect Irina Borisenkova as Member of Audit Commission

For

For

4.2 Elect Maksim Mamonov as Member of Audit Commission

For

For

4.3 Elect Anatoly Panarin as Member of Audit Commission

For

For

For

For

5 Ratify Deloitte & Touche LLP as Auditor

Monogram Residential Trust, Inc.

219

29/06/2017 USA

Annual

6 Approve New Edition of Charter

For

Against

7 Approve New Edition of Regulations on Board of Directors

For

For

8 Approve Reorganization via Acquisition of Subsidiaries

For

For

9 Amend Charter in Connection with Reorganization Proposed under Item 8

For

For

For

For

1.1 Elect Director Mark T. Alfieri 1.2 Elect Director David D. Fitch

For

For

1.3 Elect Director Tammy K. Jones

For

For

1.4 Elect Director Jonathan L. Kempner

For

Withhold

1.5 Elect Director W. Benjamin (Ben) Moreland

For

For

1.6 Elect Director E. Alan Patton

For

For

1.7 Elect Director Timothy J. Pire

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Ratify Deloitte & Touche LLP as Auditors

For

For

Concerns to protect shareholder interests

Concerns about candidate

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Monster Beverage Corporation

Mori Trust Sogo Reit Inc.

Motherson Sumi Systems Ltd.

Meeting Date Country 19/06/2017 USA

13/06/2017 Japan

25/06/2017 India

Meeting Type Annual

Special

Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.1 Elect Director Rodney C. Sacks

For

For

1.2 Elect Director Hilton H. Schlosberg

For

For

1.3 Elect Director Mark J. Hall

For

For

1.4 Elect Director Norman C. Epstein

For

Withhold

1.5 Elect Director Gary P. Fayard

For

For

1.6 Elect Director Benjamin M. Polk

For

Withhold

1.7 Elect Director Sydney Selati

For

For

1.8 Elect Director Harold C. Taber, Jr.

For

Withhold

1.9 Elect Director Kathy N. Waller

For

For

1.10 Elect Director Mark S. Vidergauz

For

Withhold

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Approve Non-Employee Director Omnibus Stock Plan

For

For

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

220

Annual

Concerns about overall board structure Concerns about overall board structure Concerns about overall board structure

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

6 Adopt Proxy Access Right

Against

For

Proposal enhances board accountability

7 Report on Sustainability, Including Water Risks

Against

For

Proposal encourages enhanced environmental approach

1 Amend Articles to Make Technical Changes

For

For

2 Elect Executive Director Yagi, Masayuki

For

For

3 Elect Alternate Executive Director Yamamoto, Michio

For

For

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Discharge of Board and Auditors

For

For

3 Elect Directors

For

Against

Postal Ballot 1 Approve Issuance of Bonus Shares

Motor Oil (Hellas) Corinth Refineries SA 07/06/2017 Greece

Concerns about overall board structure

Annual Meeting Agenda

4 Appoint Members of Audit Committee

For

For

5 Approve Dividends

For

For

6 Approve Auditors and Fix Their Remuneration

For

For

7 Approve Remuneration of Directors

For

For

8 Approve Cash Awards to Personnel and Board Members

For

Against

9 Authorize Share Repurchase Program

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name MS&AD Insurance Group Holdings

Multiplus SA

Murata Manufacturing Co. Ltd.

Meeting Date Country 26/06/2017 Japan

05/06/2017 Brazil

29/06/2017 Japan

Meeting Type Annual

Special

Annual

Proposal Number Proposal Text 1 Approve Allocation of Income, with a Final Dividend of JPY 70

221

23/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

2.1 Elect Director Suzuki, Hisahito

For

For

2.2 Elect Director Karasawa, Yasuyoshi

For

For

2.3 Elect Director Hara, Noriyuki

For

For

2.4 Elect Director Kanasugi, Yasuzo

For

For

2.5 Elect Director Fujii, Shiro

For

For

2.6 Elect Director Nishikata, Masaaki

For

For

2.7 Elect Director Okawabata, Fumiaki

For

For

2.8 Elect Director Watanabe, Akira

For

For

2.9 Elect Director Tsunoda, Daiken

For

For

2.10 Elect Director Ogawa, Tadashi

For

For

2.11 Elect Director Matsunaga, Mari

For

For

2.12 Elect Director Bando, Mariko

For

For

3.1 Appoint Statutory Auditor Kondo, Tomoko

For

For

3.2 Appoint Statutory Auditor Uemura, Kyoko

For

For

4 Appoint Alternate Statutory Auditor Nakazato, Takuya

For

For

1 Accept Resignations of Armando Valdivieso Montes, Roberto Alvo Milosawlewitsch and Mauricio Rolim Amaro as Directors

For

For

2 Elect Jerome Paul Jacques Cadier and Ramiro Diego Alfonsin Balza as Directors

For

For

3 Amend Article 19

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 110

For

For

For

For

2.1 Elect Director Murata, Tsuneo

Musashi Seimitsu Industry Co. Ltd.

Mgmt Rec

2.2 Elect Director Fujita, Yoshitaka

For

For

2.3 Elect Director Inoue, Toru

For

For

2.4 Elect Director Nakajima, Norio

For

For

2.5 Elect Director Iwatsubo, Hiroshi

For

For

2.6 Elect Director Takemura, Yoshito

For

For

2.7 Elect Director Ishino, Satoshi

For

For

2.8 Elect Director Shigematsu, Takashi

For

For

3 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 26

For

For

2.1 Elect Director Otsuka, Hiroshi

For

For

2.2 Elect Director Miyata, Takayuki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.3 Elect Director Otsuka, Haruhisa

Nabors Industries Ltd.

222

22/06/2017 Netherlands

06/06/2017 Bermuda

Annual

Annual

Vote Instruction Voter Rationale

For

For

2.4 Elect Director Horibe, Koji

For

For

2.5 Elect Director Uchida, Toru

For

For

2.6 Elect Director Tracey Sivill

For

For

2.7 Elect Director Kamino, Goro

For

For

2.8 Elect Director Hari N. Nair

For

For

2.9 Elect Director Tomimatsu, Keisuke

For

For

3.1 Elect Director and Audit Committee Member Sakakibara, Nobuyoshi

For

For

3.2 Elect Director and Audit Committee Member Yamagami, Asako

For

For

3.3 Elect Director and Audit Committee Member Morita, Yoshinori

For

For

For

For

1A Elect Director Heather Bresch

For

For

4 Approve Equity Compensation Plan Mylan N.V.

Mgmt Rec

1B Elect Director Wendy Cameron

For

Against

1C Elect Director Robert J. Cindrich

For

Against

Concerns about candidate

1D Elect Director Robert J. Coury

For

Against

Concerns about candidate

1E Elect Director JoEllen Lyons Dillon

For

For

1F Elect Director Neil Dimick

For

Against

1G Elect Director Melina Higgins

For

For

1H Elect Director Rajiv Malik

For

For

Concerns about candidate

Concerns about candidate

1I Elect Director Mark W. Parrish

For

Against

Concerns about candidate

1J Elect Director Randall L. (Pete) Vanderveen

For

Against

Concerns about candidate

1K Elect Director Sjoerd S. Vollebregt

For

For

2 Adopt Financial Statements and Statutory Reports

For

For

3 Ratify Deloitte & Touche LLP as Auditors

For

For

4 Instruction to Deloitte Accountants B.V. for the Audit of the Company's Dutch Statutory Annual Accounts for Fiscal Year 2017

For

For

5 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

6 Advisory Vote on Say on Pay Frequency

One Year

One Year

7 Authorize Repurchase of Shares

Concerns about linkage between pay and performance

For

For

1.1 Elect Director Tanya S. Beder

For

For

1.2 Elect Director James R. Crane

For

Withhold

Concerns about candidate

1.3 Elect Director John P. Kotts

For

Withhold

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.4 Elect Director Michael C. Linn

Nagoya Railroad Co. Ltd.

28/06/2017 Japan

Annual

223

20/06/2017 Taiwan

Annual

Vote Instruction Voter Rationale

For

Withhold

Concerns about candidate

1.5 Elect Director Anthony G. Petrello

For

For

1.6 Elect Director Dag Skattum

For

Withhold

Concerns about candidate

1.7 Elect Director John Yearwood

For

Withhold

Concerns about candidate

2 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

3 Approve Remuneration Report

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Adopt Proxy Access Right

Against

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Amend Articles to Amend Business Lines - Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

For

For

4.1 Elect Director Yamamoto, Ado

Nan Ya Plastics Corp

Mgmt Rec

4.2 Elect Director Ando, Takashi

For

For

4.3 Elect Director Takagi, Hideki

For

For

4.4 Elect Director Shibata, Hiroshi

For

For

4.5 Elect Director Haigo, Toshio

For

For

4.6 Elect Director Iwase, Masaaki

For

For

4.7 Elect Director Takada, Kyosuke

For

For

4.8 Elect Director Takasaki, Hiroki

For

For

4.9 Elect Director Suzuki, Kiyomi

For

For

4.10 Elect Director Yoshikawa, Takuo

For

For

4.11 Elect Director Futagami, Hajime

For

For

4.12 Elect Director Yano, Hiroshi

For

For

4.13 Elect Director Fukushima, Atsuko

For

For

4.14 Elect Director Adachi, Munenori

For

For

4.15 Elect Director Iwakiri, Michio

For

For

4.16 Elect Director Hibino, Hiroshi

For

For

4.17 Elect Director Ozawa, Satoshi

For

For

5 Approve Bonus Related to Retirement Bonus System Abolition

For

Against

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

Concerns about linkage between pay and performance Proposal enhances board accountability

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

NB Distressed Debt Investment Fund Ltd

NB Global Floating Rate Income Fund Ltd

Meeting Date Country

06/06/2017 Guernsey

14/06/2017 Guernsey

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Amend Rules and Procedures Regarding Shareholder's General Meeting

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Amend Trading Procedures Governing Derivatives Products

For

For

6 Amend Procedures for Lending Funds to Other Parties

For

For

7 Amend Procedures for Endorsement and Guarantees

For

For

8 Other Business

None

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Sarah Evans as Director

For

For

4 Re-elect John Hallam as Director

For

For

5 Re-elect Michael Holmberg as Director

For

For

6 Re-elect Christopher Sherwell as Director

For

For

7 Re-elect Stephen Vakil as Director

For

For

8 Ratify KPMG Channel Islands Limited as Auditors

For

For

9 Authorise Board to Fix Remuneration of Auditors

For

For

10 Authorise Market Purchase of Ordinary Shares, Extended Life Shares For and New Global Shares

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect William Frewen as Director

For

For

4 Re-elect Richard Battey as Director

For

For

5 Re-elect Sandra Platts as Director

For

For

6 Re-elect Rupert Dorey as Director

For

For

7 Ratify PricewaterhouseCoopers CI LLP as Auditors

For

For

8 Authorise Board to Fix Remuneration of Auditors

For

For

9 Authorise Market Purchase of Shares

For

For

For

For

1 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

10 Authorise Issue of Equity without Pre-emptive Rights NEC Corp.

22/06/2017 Japan

Annual

2.1 Elect Director Endo, Nobuhiro

224

For

Substance of resolution unclear at time of voting

For

2.2 Elect Director Niino, Takashi

For

For

2.3 Elect Director Kawashima, Isamu

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.4 Elect Director Morita, Takayuki

Nemetschek SE

01/06/2017 Germany

Annual

225

06/06/2017 USA

Annual

Vote Instruction Voter Rationale

For

For

2.5 Elect Director Emura, Katsumi

For

For

2.6 Elect Director Matsukura, Hajime

For

For

2.7 Elect Director Kunibe, Takeshi

For

For

2.8 Elect Director Ogita, Hitoshi

For

For

2.9 Elect Director Sasaki, Kaori

For

For

2.10 Elect Director Oka, Motoyuki

For

For

2.11 Elect Director Noji, Kunio

For

For

3 Appoint Statutory Auditor Kinoshita, Hajime

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

2 Approve Allocation of Income and Dividends of EUR 0.65 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

5 Ratify Ernst & Young GmbH as Auditors for Fiscal 2017

Netflix, Inc.

Mgmt Rec

For

For

6.1 Elect Kurt Dobitsch to the Supervisory Board

For

For

6.2 Elect Ruediger Herzog to the Supervisory Board

For

For

Concerns about director accountability

6.3 Elect Georg Nemetschek to the Supervisory Board

For

For

Concerns about director accountability

7 Approve Remuneration of First Supervisory Board of Nemetschek SE

For

For

8 Approve Remuneration of Supervisory Board and Amend Articles

For

For

9 Approve Increase in Size of Board to Four Members

For

For

1.1 Elect Director Reed Hastings

For

For

1.2 Elect Director Jay C. Hoag

For

Withhold

Concerns about overall board structure Concerns about candidate

1.3 Elect Director A. George (Skip) Battle

For

Withhold

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

Concerns about linkage between pay and performance

5 Adopt Proxy Access Right

Against

For

Proposal enhances board accountability

6 Report on Sustainability

Against

For

Proposal encourages enhanced environmental approach

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Report on Feasibility of Net-Zero GHG Emissions

Against

For

Proposal encourages enhanced environmental approach

8 Declassify the Board of Directors

Against

For

Proposal enhances board accountability

9 Adopt Simple Majority Vote

Against

For

Proposal enhances accountability

Against

For

Proposal enhances board accountability

1 Approve 2016 Report of the Board

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Annual Report and Its Summary

For

For

4 Approve 2016 Final Accounting

For

For

5 Approve 2016 Profit Distribution Plan

For

For

6 Approve 2016 Report of Performance of the Directors

For

For

7 Approve Report of Performance of the Independent Non-executive Directors

For

For

8 Elect Geng Jianxin as Director

For

For

9 Approve Ernst & Young Hua Ming LLP as the Domestic Auditor and Ernst & Young as International Auditor and Authorize Board to Fix Their Remuneration

For

For

10 Elect Anke D'Angelo as Supervisor

None

For

11 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests Concerns about overall board structure

10 Require a Majority Vote for the Election of Directors New China Life Insurance Co Ltd.

New York Community Bancorp, Inc.

NGK Insulators Ltd.

27/06/2017 China

06/06/2017 USA

29/06/2017 Japan

Annual

Annual

Annual

AGM BALLOT FOR HOLDERS OF H SHARES

1a Elect Director Dominick Ciampa

For

Against

1b Elect Director Leslie D. Dunn

For

For

1c Elect Director Lawrence Rosano, Jr.

For

For

1d Elect Director Robert Wann

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Approve Allocation of Income, with a Final Dividend of JPY 20 2.1 Elect Director Hamamoto, Eiji

226

For

For

For

For

2.2 Elect Director Oshima, Taku

For

For

2.3 Elect Director Takeuchi, Yukihisa

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Sakabe, Susumu

For

For

2.5 Elect Director Kanie, Hiroshi

For

For

2.6 Elect Director Iwasaki, Ryohei

For

For

2.7 Elect Director Saito, Hideaki

For

For

2.8 Elect Director Ishikawa, Shuhei

For

For

2.9 Elect Director Saji, Nobumitsu

For

For

2.10 Elect Director Niwa, Chiaki

For

For

2.11 Elect Director Kamano, Hiroyuki

For

For

2.12 Elect Director Nakamura, Toshio

For

For

2.13 Elect Director Hamada, Emiko

For

For

For

For

3 Approve Compensation Ceiling for Directors NGK Spark Plug Co. Ltd.

29/06/2017 Japan

Annual

1.1 Elect Director Odo, Shinichi

For

For

1.2 Elect Director Shibagaki, Shinji

For

For

1.3 Elect Director Okawa, Teppei

For

For

1.4 Elect Director Kawajiri, Shogo

For

For

1.5 Elect Director Nakagawa, Takeshi

For

For

1.6 Elect Director Kawai, Takeshi

For

For

1.7 Elect Director Kato, Mikihiko

For

For

1.8 Elect Director Otaki, Morihiko

For

For

1.9 Elect Director Yasui, Kanemaru

For

For

1.10 Elect Director Tamagawa, Megumi

NH Foods Ltd.

28/06/2017 Japan

Annual

For

For

2.1 Appoint Statutory Auditor Hotta, Yasuhiko

For

For

2.2 Appoint Statutory Auditor Nagatomi, Fumiko

For

For

3 Approve Compensation Ceiling for Directors

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

2.1 Elect Director Suezawa, Juichi

227

For

For

2.2 Elect Director Hata, Yoshihide

For

For

2.3 Elect Director Shinohara, Kazunori

For

For

2.4 Elect Director Kawamura, Koji

For

For

2.5 Elect Director Okoso, Hiroji

For

For

2.6 Elect Director Inoue, Katsumi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.7 Elect Director Kito, Tetsuhiro

For

For

2.8 Elect Director Takamatsu, Hajime

For

For

2.9 Elect Director Katayama, Toshiko

For

For

For

For

1.1 Reelect David Kostman as Director Until the End of the Next Annual For General Meeting

For

1.2 Reelect Rimon Ben-Shaoul as Director Until the End of the Next Annual General Meeting

For

For

1.3 Reelect Yehoshua (Shuki) Ehrlich as Director Until the End of the Next Annual General Meeting

For

For

1.4 Reelect Leo Apotheker as Director Until the End of the Next Annual General Meeting

For

For

1.5 Reelect Joseph (Joe) Cowan as Director Until the End of the Next Annual General Meeting

For

For

2.10 Elect Director Taka, Iwao NICE Ltd.

27/06/2017 Israel

Annual

2 Approve Grant of Options and Restricted Shares Units to Directors

For

Against

Concerns about independence

3 Approve One-Time Grant of Options to the Chairman of the Board

For

Against

Concerns about independence

4 Approve Employment Terms of Barak Eilam, CEO

For

For

5 Reappoint Kost Forer Gabay & Kasierer as Auditors and Authorize Board to Fix Their Remuneration

For

For

A Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

None

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 16

For

For

6 Discuss Financial Statements and the Report of the Board for 2016

Nichirei Corp.

228

27/06/2017 Japan

Annual

2.1 Elect Director Murai, Toshiaki

For

For

2.2 Elect Director Otani, Kunio

For

For

2.3 Elect Director Matsuda, Hiroshi

For

For

2.4 Elect Director Taguchi, Takumi

For

For

2.5 Elect Director Kaneko, Yoshifumi

For

For

2.6 Elect Director Okushi, Kenya

For

For

2.7 Elect Director Kawasaki, Junji

For

For

2.8 Elect Director Taniguchi, Mami

For

For

2.9 Elect Director Uzawa, Shizuka

For

For

2.10 Elect Director Wanibuchi, Mieko

For

For

Not a controlling shareholder

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3 Appoint Statutory Auditor Shigeno, Yasunari

Nidec Corp.

16/06/2017 Japan

Annual

1.1 Elect Director Nagamori, Shigenobu

Nine Dragons Paper (Holdings) Ltd.

Nintendo Co. Ltd.

229

29/06/2017 Japan

29/06/2017 Bermuda

29/06/2017 Japan

Annual

Special

Annual

Vote Instruction Voter Rationale

For

For

For

For

1.2 Elect Director Kobe, Hiroshi

For

For

1.3 Elect Director Katayama, Mikio

For

For

1.4 Elect Director Sato, Akira

For

For

1.5 Elect Director Miyabe, Toshihiko

For

For

1.6 Elect Director Yoshimoto, Hiroyuki

For

For

1.7 Elect Director Onishi, Tetsuo

For

For

1.8 Elect Director Ido, Kiyoto

For

For

1.9 Elect Director Ishida, Noriko

For

For

For

For

2 Appoint Statutory Auditor Murakami, Kazuya Nikon Corp.

Mgmt Rec

For

For

2.1 Elect Director Ushida, Kazuo

1 Approve Allocation of Income, with a Final Dividend of JPY 4

For

Against

2.2 Elect Director Oka, Masashi

For

For

2.3 Elect Director Okamoto, Yasuyuki

For

For

2.4 Elect Director Odajima, Takumi

For

For

2.5 Elect Director Hagiwara, Satoshi

For

For

2.6 Elect Director Negishi, Akio

For

For

3 Elect Director and Audit Committee Member Honda, Takaharu

For

For

1 Approve Longteng Packaging Materials and Chemicals Purchase Agreement, Proposed Annual Caps and Related Transactions

For

For

2 Approve Hong Kong International Paper Chemicals Purchase Agreement, Proposed Annual Caps and Related Transactions

For

For

3 Approve Longteng Packaging Paperboard Supply Agreement, Proposed Annual Caps and Related Transactions

For

For

4 Approve Taicang Packaging Paperboard Supply Agreement, Proposed Annual Caps and Related Transactions

For

For

5 Approve Honglong Packaging Paperboard Supply Agreement, Proposed Annual Caps and Related Transactions

For

For

6 Approve ACN Recovered Paper Purchase Agreement, Proposed Annual Caps and Related Transactions

For

For

7 Approve Tianjin ACN Wastepaper Purchase Agreement, Proposed Annual Caps and Related Transactions

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 430

For

For

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Nippo Corp.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.1 Elect Director Kimishima, Tatsumi

For

For

2.2 Elect Director Miyamoto, Shigeru

For

For

2.3 Elect Director Takahashi, Shinya

For

For

2.4 Elect Director Furukawa, Shuntaro

For

For

2.5 Elect Director Shiota, Ko

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 35

For

For

2.1 Elect Director Mizushima, Kazunori

For

Against

Concerns about overall board structure

2.2 Elect Director Iwata, Hiromi

For

Against

Concerns about overall board structure

2.3 Elect Director Takahashi, Akitsugu

For

For

2.4 Elect Director Yoshikawa, Yoshikazu

For

For

2.5 Elect Director Baba, Yoshio

For

For

2.6 Elect Director Miyazaki, Masahiro

For

For

2.7 Elect Director Hashimoto, Yuji

For

For

2.8 Elect Director Kawada, Junichi

For

For

2.9 Elect Director Kimura, Tsutomu 2.10 Elect Director Ueda, Muneaki 3.1 Appoint Statutory Auditor Yoshida, Yasumaro

Nippon Express Co. Ltd.

230

29/06/2017 Japan

Annual

For

For

For

For

For

Against

Concerns about independence

3.2 Appoint Statutory Auditor Kamiyama, Makoto

For

For

3.3 Appoint Statutory Auditor Ishida, Yuko

For

Against

Concerns about independence

3.4 Appoint Statutory Auditor Tomabechi, Kunio

For

Against

Concerns about independence

1 Approve Allocation of Income, with a Final Dividend of JPY 6

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Amend Articles to Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

4.1 Elect Director Watanabe, Kenji

For

For

4.2 Elect Director Saito, Mitsuru

For

For

4.3 Elect Director Ito, Yutaka

For

For

4.4 Elect Director Ishii, Takaaki

For

For

4.5 Elect Director Taketsu, Hisao

For

For

4.6 Elect Director Shimauchi, Takumi

For

For

4.7 Elect Director Terai, Katsuhiro

For

For

4.8 Elect Director Sakuma, Fumihiko

For

For

4.9 Elect Director Akita, Susumu

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Nippon Paper Industries Co., Ltd.

Nippon Steel & Sumitomo Metal Corp.

231

Meeting Date Country

29/06/2017 Japan

27/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4.10 Elect Director Hayashida, Naoya

For

For

4.11 Elect Director Horikiri, Satoshi

For

For

4.12 Elect Director Matsumoto, Yoshiyuki

For

For

4.13 Elect Director Sugiyama, Masahiro

For

For

4.14 Elect Director Nakayama, Shigeo

For

For

4.15 Elect Director Yasuoka, Sadako

For

For

5 Appoint Statutory Auditor Kanki, Tadashi

For

Against

6 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For

For

2.1 Elect Director Haga, Yoshio

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Manoshiro, Fumio

For

Against

Holding executives accountable for ongoing poor returns

2.3 Elect Director Yamasaki, Kazufumi

For

For

2.4 Elect Director Utsumi, Akihiro

For

For

2.5 Elect Director Nozawa, Toru

For

For

2.6 Elect Director Fujimori, Hirofumi

For

For

Concerns about independence

2.7 Elect Director Ueda, Shoji

For

For

2.8 Elect Director Aoyama, Yoshimitsu

For

For

2.9 Elect Director Fujioka, Makoto

For

For

For

For

2.1 Elect Director Muneoka, Shoji

For

Against

Holding executives accountable for ongoing poor returns

2.2 Elect Director Shindo, Kosei

For

Against

Holding executives accountable for ongoing poor returns

1 Approve Allocation of Income, with a Final Dividend of JPY 45

2.3 Elect Director Sakuma, Soichiro

For

For

2.4 Elect Director Saeki, Yasumitsu

For

For

2.5 Elect Director Fujino, Shinji

For

For

2.6 Elect Director Hashimoto, Eiji

For

For

2.7 Elect Director Takahashi, Kenji

For

For

2.8 Elect Director Sakae, Toshiharu

For

For

2.9 Elect Director Tanimoto, Shinji

For

For

2.10 Elect Director Nakamura, Shinichi

For

For

2.11 Elect Director Kunishi, Toshihiko

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.12 Elect Director Otsuka, Mutsutake

For

For

2.13 Elect Director Fujisaki, Ichiro

For

For

3 Appoint Statutory Auditor Nagayasu, Katsunori

For

Against

Nippon Telegraph & Telephone Corp.

27/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 60

For

For

Nippon Yusen K.K.

21/06/2017 Japan

Annual

1 Approve Accounting Transfers

Nishi-Nippon Financial Holdings, Inc.

232

29/06/2017 Japan

Annual

Concerns about independence

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Amend Articles to Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit - Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

For

For

4.1 Elect Director Kudo, Yasumi

For

Against

Holding executives accountable for ongoing poor returns

4.2 Elect Director Naito, Tadaaki

For

Against

Holding executives accountable for ongoing poor returns

4.3 Elect Director Tazawa, Naoya

For

For

4.4 Elect Director Nagasawa, Hitoshi

For

For

4.5 Elect Director Chikaraishi, Koichi

For

For

4.6 Elect Director Maruyama, Hidetoshi

For

For

4.7 Elect Director Yoshida, Yoshiyuki

For

For

4.8 Elect Director Takahashi, Eiichi

For

For

4.9 Elect Director Okamoto, Yukio

For

For

4.10 Elect Director Katayama, Yoshihiro

For

For

4.11 Elect Director Kuniya, Hiroko

For

For

5 Appoint Statutory Auditor Hiramatsu, Hiroshi

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 17.5

For

For

2 Amend Articles to Reflect Changes in Law

For

For

3.1 Elect Director Kubota, Isao

For

For

3.2 Elect Director Tanigawa, Hiromichi

For

For

3.3 Elect Director Isoyama, Seiji

For

For

3.4 Elect Director Kawamoto, Soichi

For

For

3.5 Elect Director Takata, Kiyota

For

For

3.6 Elect Director Irie, Hiroyuki

For

For

3.7 Elect Director Hirota, Shinya

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Nissan Chemical Industries Ltd.

Nissan Motor Co. Ltd.

Meeting Date Country

28/06/2017 Japan

27/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.8 Elect Director Murakami, Hideyuki

For

For

3.9 Elect Director Takeo, Hiroyuki

For

For

4 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

For

For

5 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 28

For

For

2.1 Elect Director Kinoshita, Kojiro

For

For

2.2 Elect Director Miyazaki, Junichi

For

For

2.3 Elect Director Fukuro, Hiroyoshi

For

For

2.4 Elect Director Hatanaka, Masataka

For

For

2.5 Elect Director Miyaji, Katsuaki

For

For

2.6 Elect Director Takishita, Hidenori

For

For

2.7 Elect Director Honda, Takashi

For

For

2.8 Elect Director Kajiyama, Chisato

For

For

2.9 Elect Director Oe, Tadashi

For

For

3 Appoint Statutory Auditor Takemoto, Shuichi

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 24

For

For

2.1 Elect Director Carlos Ghosn

For

Against

Concerns about overall board structure

2.2 Elect Director Saikawa, Hiroto

For

Against

Concerns about overall board structure

2.3 Elect Director Greg Kelly

For

For

2.4 Elect Director Sakamoto, Hideyuki

For

For

2.5 Elect Director Matsumoto, Fumiaki

For

For

2.6 Elect Director Nakamura, Kimiyasu

For

For

2.7 Elect Director Shiga, Toshiyuki

For

For

2.8 Elect Director Jean-Baptiste Duzan

For

For

2.9 Elect Director Bernard Rey

For

For

For

For

3 Appoint Statutory Auditor Guiotoko, Celso Nisshin Seifun Group Inc.

233

28/06/2017 Japan

Annual

Concerns about independence

For

For

2.1 Elect Director Kemmoku, Nobuki

1 Approve Allocation of Income, with a Final Dividend of JPY 13

For

For

2.2 Elect Director Nakagawa, Masao

For

For

2.3 Elect Director Takizawa, Michinori

For

For

2.4 Elect Director Harada, Takashi

For

For

2.5 Elect Director Mori, Akira

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.6 Elect Director Odaka, Satoshi

Nissin Foods Holdings Co., Ltd.

28/06/2017 Japan

Annual

16/06/2017 Japan

Annual

For

For

2.7 Elect Director Nakagawa, Masashi

For

For

For

For

2.9 Elect Director Sato, Kiyoshi

For

For

2.10 Elect Director Mimura, Akio

For

For

2.11 Elect Director Fushiya, Kazuhiko

For

For

2.12 Elect Director Koike, Masashi

For

For

2.13 Elect Director Masujima, Naoto

For

For

2.14 Elect Director Koike, Yuji

For

For

2.15 Elect Director Takihara, Kenji

For

For

3 Appoint Statutory Auditor Kumazawa, Yukihiro

For

For

4 Appoint Deloitte Touche Tohmatsu LLC as New External Audit Firm

For

For

5 Approve Compensation Ceiling for Directors

For

For

6 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 45

For

For

For

For

2.2 Elect Director Ando, Noritaka

For

For

2.3 Elect Director Yokoyama, Yukio

For

For

2.4 Elect Director Kobayashi, Ken

For

For

2.5 Elect Director Okafuji, Masahiro

For

For

2.6 Elect Director Ishikura, Yoko

For

For

2.7 Elect Director Karube, Isao

For

For

2.8 Elect Director Mizuno, Masato

For

For

3 Appoint Statutory Auditor Kanamori, Kazuo

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 75

For

For

2 Approve Annual Bonus 3.1 Elect Director Takasaki, Hideo

234

Vote Instruction Voter Rationale

2.8 Elect Director Yamada, Takao

2.1 Elect Director Ando, Koki

Nitto Denko Corp.

Mgmt Rec

For

For

For

For

3.2 Elect Director Takeuchi, Toru

For

For

3.3 Elect Director Umehara, Toshiyuki

For

For

3.4 Elect Director Nakahira, Yasushi

For

For

3.5 Elect Director Todokoro, Nobuhiro

For

For

3.6 Elect Director Miki, Yosuke

For

For

3.7 Elect Director Furuse, Yoichiro

For

For

3.8 Elect Director Hatchoji, Takashi

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

4 Appoint Statutory Auditor Maruyama, Kageshi

For

For

5 Approve Deep Discount Stock Option Plan

For

For

For

For

3.9 Elect Director Sato, Hiroshi

NN GROUP NV

01/06/2017 Netherlands

Annual

Annual Meeting Agenda 1 Open Meeting 2 Receive Annual Report 2016 3 Discuss Remuneration Policy 2016 4a Adopt Financial Statements 2016 4b Receive Explanation on Company's Reserves and Dividend Policy 4c Approve Dividends of EUR 1.55 Per Share

For

For

5a Approve Discharge of Executive Board

For

For

5b Approve Discharge of Supervisory Board

For

For

8a Elect Robert Ruijter to Supervisory Board

For

For

8b Elect Clara Streit to Supervisory Board

For

For

6 Announce Intention to Reappoint Lard Friese to Executive Board 7 Discussion of Supervisory Board Profile

9a Approve Remuneration of Supervisory Board

For

For

9b Approve Increase Maximum Ratio Between Fixed and Variable Components of Remuneration

For

For

10 Amend Articles of Association

For

For

For

Against

Concerns to protect shareholder interests

11b Authorize Board to Exclude Preemptive Rights from Share Issuances For

Against

Concerns to protect shareholder interests

11a Grant Board Authority to Issue Shares Up To 10 Percent of Issued Capital Plus Additional 10 Percent in Case of Takeover/Merger 12 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

13 Approve Cancellation of Repurchased Shares Up to 20 Percent of Issued Share Capital

For

For

For

For

14 Other Business (Non-Voting) NOK Corp.

235

28/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 25 2.1 Elect Director Tsuru, Masato

For

For

2.2 Elect Director Doi, Kiyoshi

For

For

2.3 Elect Director Iida, Jiro

For

For

2.4 Elect Director Kuroki, Yasuhiko

For

For

2.5 Elect Director Watanabe, Akira

For

For

2.6 Elect Director Nagasawa, Shinji

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Nomura Holdings Inc.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.7 Elect Director Tsuru, Tetsuji

For

For

2.8 Elect Director Kobayashi, Toshifumi

For

For

2.9 Elect Director Hogen, Kensaku

For

For

2.10 Elect Director Fujioka, Makoto

For

For

1.1 Elect Director Koga, Nobuyuki

For

For

1.2 Elect Director Nagai, Koji

For

For

1.3 Elect Director Ozaki, Tetsu

For

For

1.4 Elect Director Miyashita, Hisato

For

For

1.5 Elect Director Kusakari, Takao

For

For

1.6 Elect Director Kimura, Hiroshi

For

For

1.7 Elect Director Shimazaki, Noriaki

For

For

1.8 Elect Director Kanemoto, Toshinori

For

For

1.9 Elect Director Sono, Mari

For

Against

For

For

1.10 Elect Director Michael Lim Choo San Nomura Real Estate Holdings, Inc.

Nomura Research Institute Ltd.

236

29/06/2017 Japan

23/06/2017 Japan

Annual

Annual

1.1 Elect Director Yoshikawa, Atsushi

For

For

1.2 Elect Director Kutsukake, Eiji

For

For

1.3 Elect Director Miyajima, Seiichi

For

For

1.4 Elect Director Seki, Toshiaki

For

For

1.5 Elect Director Kimura, Hiroyuki

For

For

1.6 Elect Director Haga, Makoto

For

For

1.7 Elect Director Matsushima, Shigeru

For

For

1.8 Elect Director Shinohara, Satoko

For

For

2.1 Elect Director and Audit Committee Member Orihara, Takao

For

For

2.2 Elect Director and Audit Committee Member Fujitani, Shigeki

For

For

2.3 Elect Director and Audit Committee Member Ogishi, Satoshi

For

For

2.4 Elect Director and Audit Committee Member Yamate, Akira

For

For

2.5 Elect Director and Audit Committee Member Ono, Akira

For

For

1.1 Elect Director Shimamoto, Tadashi

For

For

1.2 Elect Director Suzuki, Hiroyuki

For

For

1.3 Elect Director Konomoto, Shingo

For

For

1.4 Elect Director Ueno, Ayumu

For

For

1.5 Elect Director Usumi, Yoshio

For

For

1.6 Elect Director Itano, Hiroshi

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

North Atlantic Smaller Companies Investment Trust PLC

Nostrum Oil & Gas Plc

237

Meeting Date Country

27/06/2017 United Kingdom

26/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.7 Elect Director Utsuda, Shoei

For

For

1.8 Elect Director Doi, Miwako

For

For

1.9 Elect Director Matsuzaki, Masatoshi

For

For

2 Appoint Statutory Auditor Okubo, Noriaki

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Re-elect Enrique Gittes as Director

For

Against

5 Re-elect Lord Howard as Director

For

For

Concerns about overall board structure

6 Re-elect Christopher Mills as Director

For

Against

Concerns about overall board structure

7 Re-elect Peregrine Moncreiffe as Director

For

Against

Concerns about overall board structure

8 Re-elect Kristian Siem as Director

For

For

9 Reappoint KPMG LLP as Auditors and Authorise Their Remuneration For

For

10 Authorise Issue of Equity with Pre-emptive Rights

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

12 Authorise Market Purchase of Ordinary Shares

For

For

13 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Atul Gupta as Director

For

For

4 Re-elect Kai-Uwe Kessel as Director

For

For

5 Elect Tom Richardson as Director

For

For

6 Elect Kaat Van Hecke as Director

For

For

7 Re-elect Sir Christopher Codrington as Director

For

For

8 Re-elect Mark Martin as Director

For

For

9 Re-elect Pankaj Jain as Director

For

For

10 Elect Michael Calvey as Director

For

For

11 Reappoint Ernst & Young LLP as Auditors

For

For

12 Authorise Board to Fix Remuneration of Auditors

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Approve Long Term Incentive Plan

For

Against

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Novatek Microelectronics Corp. Ltd.

Novolipetsk Steel

Meeting Date Country

07/06/2017 Taiwan

02/06/2017 Russia

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

15 Approve the Making of Awards Under the Long Term Incentive Plan Outside of the Shareholder Approved Directors' Remuneration Policy

For

Against

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

18 Authorise Market Purchase of Ordinary Shares

For

For

19 Authorise Off-Market Purchase of Shares

For

For

14 Approve Long Term Incentive Plan

For

Against

Concerns about linkage between pay and performance

15 Approve the Making of Awards Under the Long Term Incentive Plan Outside of the Shareholder Approved Directors' Remuneration Policy

For

Against

Concerns about linkage between pay and performance

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

4 Approve Interim Dividends of RUB 2.35 per Share for First Three Months of Fiscal 2017

For

For

5.1 Elect Oleg Bagrin as Director

None

Against

Votes to favour our preferred candidates

5.2 Elect Thomas Veraszto as Director

None

For

Votes to favour our preferred candidates

5.3 Elect Helmut Wieser as Director

None

For

Votes to favour our preferred candidates

5.4 Elect Nikolay Gagarin as Director

None

Against

Votes to favour our preferred candidates

5.5 Elect Vladimir Lisin as Director

None

Against

Votes to favour our preferred candidates

5.6 Elect Karen Sarkisov as Director

None

Against

Votes to favour our preferred candidates

5.7 Elect Stanislav Shekshnya as Director

None

For

Votes to favour our preferred candidates

5.8 Elect Benedict Sciortino as Director

None

For

Votes to favour our preferred candidates

5.9 Elect Franz Struzl as Director

None

For

Votes to favour our preferred candidates

For

For

Concerns about linkage between pay and performance

Elect Nine Directors by Cumulative Voting

6 Elect Oleg Bagrin as President Elect Five Members of Audit Commission

238

7.1 Elect Yulia Kunikhina as Member of Audit Commission

For

For

7.2 Elect Mikhail Makeev as Member of Audit Commission

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.3 Elect Natalia Savina as Member of Audit Commission

For

For

7.4 Elect Elena Skladchikova as Member of Audit Commission

For

For

7.5 Elect Sergey ushkov as Member of Audit Commission

For

For

For

For

8 Approve Remuneration of Directors

NSK Ltd.

23/06/2017 Japan

Annual

9.1 Ratify PriceWaterhouseCoopers as RAS Auditor

For

For

9.2 Ratify PriceWaterhouseCoopers as IFRS Auditor

For

For

For

For

1 Amend Articles to Amend Provision on Terms of Executive Officers 2.1 Elect Director Uchiyama, Toshihiro

For

For

2.2 Elect Director Nogami, Saimon

For

For

2.3 Elect Director Suzuki, Shigeyuki

For

For

2.4 Elect Director Kamio, Yasuhiro

For

For

2.5 Elect Director Aramaki, Hirotoshi

For

For

2.6 Elect Director Arai, Minoru

For

For

2.7 Elect Director Ichii, Akitoshi

For

For

2.8 Elect Director Enomoto, Toshihiko

For

For

2.9 Elect Director Kama, Kazuaki 2.10 Elect Director Tai, Ichiro

NTT Data Corp.

20/06/2017 Japan

Annual

239

20/06/2017 Japan

Annual

For For

2.11 Elect Director Furukawa, Yasunobu

For

Against

Concerns about overall board structure

2.12 Elect Director Ikeda, Teruhiko

For

Against

Concerns about overall board structure

3 Approve Takeover Defense Plan (Poison Pill)

For

Against

Proposal risks entrenching management

1 Approve Allocation of Income, With a Final Dividend of JPY 40

For

For

For

For

2.1 Elect Director Iwamoto, Toshio

NTT DoCoMo Inc.

For For

2.2 Elect Director Homma, Yo

For

For

2.3 Elect Director Ueki, Eiji

For

For

2.4 Elect Director Nishihata, Kazuhiro

For

For

2.5 Elect Director Kitani, Tsuyoshi

For

For

2.6 Elect Director Yanagi, Keiichiro

For

For

2.7 Elect Director Aoki, Hiroyuki

For

For

2.8 Elect Director Yamaguchi, Shigeki

For

For

2.9 Elect Director Fujiwara, Toshi

For

For

2.10 Elect Director Okamoto, Yukio

For

For

2.11 Elect Director Hirano, Eiji

For

For

2.12 Elect Director Ebihara, Takashi

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 40

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2 Amend Articles to Amend Business Lines

NXP Semiconductors NV

01/06/2017 Netherlands

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3.1 Elect Director Nakamura, Hiroshi

For

For

3.2 Elect Director Tamura, Hozumi

For

For

4.1 Appoint Statutory Auditor Suto, Shoji

For

For

4.2 Appoint Statutory Auditor Sagae, Hironobu

For

Against

2.c Adopt Financial Statements and Statutory Reports

For

For

2.d Approve Discharge of Board Members

For

For

3.a Reelect Richard L. Clemmer as Executive Director

For

For

3.b Reelect Peter Bonfield as Non-Executive Director

For

For

Concerns about independence

Annual Meeting Agenda 1 Open Meeting 2.a Discussion of the Implementation of the Remuneration Policy 2.b Receive Explanation on Company's Reserves and Dividend Policy

NZX Limited

30/06/2017 New Zealand

Annual

3.c Reelect Johannes P. Huth as Non-Executive Director

For

For

3.d Reelect Kenneth A. Goldman as Non-Executive Director

For

For

3.e Reelect Marion Helmes as Non-Executive Director

For

For

3.f Reelect Joseph Kaeser as Non-Executive Director

For

For

3.g Reelect Ian Loring as Non-Executive Director

For

For

3.h Reelect Eric Meurice as Non-Executive Director

For

For

3.i Reelect Peter Smitham as Non-Executive Director

For

For

3.j Reelect Julie Southern as Non-Executive Director

For

For

3.k Reelect Gregory Summe as Non-Executive Director

For

For

4.a Grant Board Authority to Issue Shares Up To 10 Percent of Issued Capital Plus Additional 10 Percent in Case of Takeover/Merger

For

Against

Concerns to protect shareholder interests

4.b Authorize Board to Exclude Preemptive Rights from Issuance Under Item 4.a

For

Against

Concerns to protect shareholder interests

5 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

6 Approve Cancellation of Ordinary Shares

For

For

1 Authorize the Board to Fix Remuneration of the Auditors

For

For

2 Elect Frank Aldridge as Director

For

For

3 Elect Richard Bodman as Director

For

For

4 Elect Patrick Strange as Director

For

For

Management Proposals

Shareholder Proposal

240

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Obayashi Corp.

Meeting Date Country 29/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Elect Tony Falkenstein as Director

Against

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 19

For

For

2.1 Elect Director Obayashi, Takeo

For

For

2.2 Elect Director Shiraishi, Toru

For

For

2.3 Elect Director Harada, Shozo

For

For

2.4 Elect Director Tsuchiya, Kozaburo

For

For

2.5 Elect Director Ura, Shingo

For

For

2.6 Elect Director Kishida, Makoto

For

For

2.7 Elect Director Miwa, Akihisa

For

For

2.8 Elect Director Hasuwa, Kenji

For

For

2.9 Elect Director Otsuka, Jiro

Obic Co Ltd

Odakyu Electric Railway Co. Ltd.

241

29/06/2017 Japan

29/06/2017 Japan

Annual

Annual

For

For

2.10 Elect Director Otake, Shinichi

For

For

2.11 Elect Director Koizumi, Shinichi

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 47.5

For

For

2 Amend Articles to Reduce Directors' Term

For

For

3.1 Elect Director Noda, Masahiro

For

For

3.2 Elect Director Tachibana, Shoichi

For

For

3.3 Elect Director Kano, Hiroshi

For

For

3.4 Elect Director Kawanishi, Atsushi

For

For

3.5 Elect Director Noda, Mizuki

For

For

3.6 Elect Director Fujimoto, Takao

For

For

3.7 Elect Director Ida, Hideshi

For

For

3.8 Elect Director Ueno, Takemitsu

For

For

3.9 Elect Director Sato, Noboru

For

For

3.10 Elect Director Gomi, Yasumasa

For

For

3.11 Elect Director Ejiri, Takashi

For

For

4.1 Appoint Statutory Auditor Koyamachi, Akira

For

For

4.2 Appoint Statutory Auditor Sakawa, Shohei

For

Against

4.3 Appoint Statutory Auditor Nagao, Kenta

For

For

5 Approve Director and Statutory Auditor Retirement Bonus

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 10

For

For

2.1 Elect Director Yamaki, Toshimitsu

For

For

2.2 Elect Director Hoshino, Koji

For

For

Concerns about independence Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.3 Elect Director Ogawa, Mikio

For

For

2.4 Elect Director Kaneko, Ichiro

For

For

2.5 Elect Director Shimoka, Yoshihiko

For

For

2.6 Elect Director Yamamoto, Toshiro

For

For

2.7 Elect Director Osuga, Yorihiko

For

For

2.8 Elect Director Arakawa, Isamu

For

For

2.9 Elect Director Igarashi, Shu

For

For

2.10 Elect Director Morita, Tomijiro

For

For

2.11 Elect Director Nomaguchi, Tamotsu

For

For

2.12 Elect Director Nakayama, Hiroko

For

For

2.13 Elect Director Koyanagi, Jun

For

For

2.14 Elect Director Dakiyama, Hiroyuki

For

For

2.15 Elect Director Hayama, Takashi

For

For

For

For

For

For

3 Approve Compensation Ceiling for Directors Oji Holdings Corp.

29/06/2017 Japan

Annual

1.1 Elect Director Shindo, Kiyotaka 1.2 Elect Director Yajima, Susumu

For

For

1.3 Elect Director Watari, Ryoji

For

For

1.4 Elect Director Fuchigami, Kazuo

For

For

1.5 Elect Director Aoyama, Hidehiko

For

For

1.6 Elect Director Koseki, Yoshiki

For

For

1.7 Elect Director Takeda, Yoshiaki

For

For

1.8 Elect Director Fujiwara, Shoji

For

For

1.9 Elect Director Kaku, Masatoshi 1.10 Elect Director Kisaka, Ryuichi

242

15/06/2017 Japan

Annual

For For

1.11 Elect Director Kamada, Kazuhiko

For

For

1.12 Elect Director Isono, Hiroyuki

For

For

1.13 Elect Director Nara, Michihiro

For

For

1.14 Elect Director Terasaka, Nobuaki

For

For

For

For

2.1 Appoint Statutory Auditor Ogata, Motokazu

Okinawa Cellular Telephone

For For

2.2 Appoint Statutory Auditor Yamashita, Tomihiro

For

For

2.3 Appoint Statutory Auditor Katsura, Makoto

For

For

3 Approve Takeover Defense Plan (Poison Pill)

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 55

For

For

Proposal risks entrenching management

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.1 Elect Director Inamori, Kazuo

For

Against

Concerns about candidate

2.2 Elect Director Yuasa, Hideo

For

For

Concerns about overall board structure

2.3 Elect Director Nakachi, Masakazu

For

For

2.4 Elect Director Tomori, Katsuki

For

For

2.5 Elect Director Oroku, Kunio

For

For

2.6 Elect Director Ishimine, Denichiro

For

For

2.7 Elect Director Onodera, Tadashi

For

For

2.8 Elect Director Ishikawa, Yuzo

For

For

2.9 Elect Director Yamamori, Seiji

For

For

For

For

2.1 Elect Director Inamori, Kazuo

For

Against

Concerns about candidate

2.2 Elect Director Yuasa, Hideo

For

For

Concerns about overall board structure

1 Approve Allocation of Income, with a Final Dividend of JPY 9

For

For

2 Approve Accounting Transfers

For

For

3 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3 Approve Annual Bonus

Okuma Corp.

27/06/2017 Japan

Annual

4.1 Elect Director Hanaki, Yoshimaro

Olympus Corp.

28/06/2017 Japan

Annual

For

4.2 Elect Director Ryoki, Masato

For

For

4.3 Elect Director Horie, Chikashi

For

For

4.4 Elect Director Ieki, Atsushi

For

For

4.5 Elect Director Yamamoto, Takeshi

For

For

4.6 Elect Director Ishimaru, Osamu

For

For

4.7 Elect Director Kitagawa, Katsuyoshi

For

For

4.8 Elect Director Senda, Harumitsu

For

For

4.9 Elect Director Komura, Kinya

For

For

4.10 Elect Director Okaya, Tokuichi

For

For

4.11 Elect Director Ozawa, Masatoshi

For

For

5.1 Appoint Statutory Auditor Kokado, Tamotsu

For

Against

Concerns about independence

5.2 Appoint Statutory Auditor Kai, Keishi

For

Against

Concerns about independence

1 Approve Allocation of Income, with a Final Dividend of JPY 28 2.1 Elect Director Sasa, Hiroyuki

243

For

For

For

For

For

2.2 Elect Director Takeuchi, Yasuo

For

For

2.3 Elect Director Taguchi, Akihiro

For

For

2.4 Elect Director Ogawa, Haruo

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.5 Elect Director Hirata, Kiichi

For

For

2.6 Elect Director Hiruta, Shiro

For

For

2.7 Elect Director Fujita, Sumitaka

For

For

2.8 Elect Director Katayama, Takayuki

For

For

2.9 Elect Director Kaminaga, Susumu

Omron Corp.

ONEOK, Inc.

Ono Pharmaceutical Co. Ltd.

244

22/06/2017 Japan

30/06/2017 USA

29/06/2017 Japan

Annual

Special

Annual

For

For

2.10 Elect Director Kikawa, Michijiro

For

For

2.11 Elect Director Iwamura, Tetsuo

For

For

3 Appoint Statutory Auditor Koga, Nobuyuki

For

For

4 Appoint Alternate Statutory Auditor Teshima, Atsushi

For

For

5 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 34

For

For

2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles

For

For

3.1 Elect Director Tateishi, Fumio

For

For

3.2 Elect Director Yamada, Yoshihito

For

For

3.3 Elect Director Miyata, Kiichiro

For

For

3.4 Elect Director Nitto, Koji

For

For

3.5 Elect Director Ando, Satoshi

For

For

3.6 Elect Director Kobayashi, Eizo

For

For

3.7 Elect Director Nishikawa, Kuniko

For

For

3.8 Elect Director Kamigama, Takehiro

For

For

4 Appoint Statutory Auditor Kunihiro, Tadashi

For

For

5 Appoint Alternate Statutory Auditor Watanabe, Toru

For

For

6 Approve Annual Bonus

For

For

7 Approve Trust-Type Equity Compensation Plan

For

For

1 Issue Shares in Connection with the Merger

For

For

2 Increase Authorized Common Stock

For

Against

3 Adjourn Meeting

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 20

For

For

2.1 Elect Director Sagara, Gyo

For

For

2.2 Elect Director Awata, Hiroshi

For

For

2.3 Elect Director Sano, Kei

For

For

2.4 Elect Director Kawabata, Kazuhito

For

For

2.5 Elect Director Ono, Isao

For

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Orange

Meeting Date Country

01/06/2017 France

Meeting Type

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.6 Elect Director Kato, Yutaka

For

For

2.7 Elect Director Kurihara, Jun

For

For

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 0.60 per Share

For

For

4 Acknowledge Auditors' Special Report on Related-Party Transactions Regarding the Absence of New Transactions

For

For

Ordinary Business

5 Reelect Bpifrance Participations as Director

For

Against

6 Ratify Appointment of Alexandre Bompard as Director

For

For

7 Non-Binding Vote on Compensation of Stephane Richard, CEO and Chairman

For

For

8 Non-Binding Vote on Compensation of Ramon Fernandez, Vice-CEO

For

For

9 Non-Binding Vote on Compensation of Pierre Louette, Vice-CEO

For

For

10 Non-Binding Vote on Compensation of Gervais Pellissier, Vice-CEO

For

For

11 Approve Remuneration Policy of Stephane Richard, CEO and Chairman

For

For

12 Approve Remuneration Policy of Ramon Fernandez, Vice-CEO

For

For

13 Approve Remuneration Policy of Pierre Louette, Vice-CEO

For

For

14 Approve Remuneration Policy of Gervais Pellissier, Vice-CEO

For

For

15 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

16 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion

For

For

17 Allow Board to Use Delegations under Item 16 Above in the Event of a Public Tender Offer

For

Against

18 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion

For

For

19 Allow Board to Use Delegations under Item 18 Above in the Event of a Public Tender Offer

For

Against

Concerns about director accountability

Extraordinary Business

245

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

20 Approve Issuance of Equity or Equity-Linked Securities for up to 20 Percent of Issued Capital Per Year for Private Placements, up to Aggregate Nominal Amount of EUR 1 Billion

For

For

21 Allow Board to Use Delegations under Item 20 Above in the Event of a Public Tender Offer

For

Against

22 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Under Items 16-21

For

For

23 Authorize Capital Increase of Up to EUR 1 Billion for Future Exchange Offers

For

For

24 Allow Board to Use Delegations under Item 23 Above in the Event of a Public Tender Offer

For

Against

25 Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind

For

For

26 Allow Board to Use Delegations under Item 25 Above in the Event of a Public Tender Offer

For

Against

27 Set Total Limit for Capital Increase to Result from All Issuance Requests at EUR 3 Billion Million

For

For

28 Authorize Capitalization of Reserves of Up to EUR 2 Billion for Bonus Issue or Increase in Par Value

For

For

29 Authorize up to 0.06 Percent of Issued Capital for Use in Restricted Stock Plans Under Performance Conditions Reserved for Some Employees and Executive Officers

For

For

30 Authorize up to 0.4 Percent of Issued Capital for Use in Restricted Stock Plans Reserved for Employees

For

For

31 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

32 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

33 Authorize Filing of Required Documents/Other Formalities

For

For

A Amend Article 13 of Bylaws Re: Board Diversity

Against

Abstain

1 Open Meeting; Elect Meeting Chairman

For

For

3 Elect Members of Vote Counting Commission

For

For

4 Approve Agenda of Meeting

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Shareholder Proposals Submitted by FCPE Cap Orange

Orbis SA

08/06/2017 Poland

Annual

Resolution too prescriptive but promotes board diversity

2 Acknowledge Proper Convening of Meeting

246

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Management Board Report on Company's and Group's Operations

For

For

8 Approve Financial Statements

For

For

9 Approve Allocation of Income and Dividends of PLN 1.60 per Share

For

For

5.1 Receive Supervisory Board Report on Financial Statements, Management Board Report on Company's Operations, and Management Board Proposal on Allocation Income 5.2 Receive Supervisory Board Report on Consolidated Financial Statements 6 Receive Supervisory Board Report on Company's Standing

10 Approve Consolidated Financial Statements

Oriental Holdings Berhad

247

08/06/2017 Malaysia

Annual

For

For

11.1 Approve Discharge of Gilles Stephane Clavie (Management Board Member)

For

For

11.2 Approve Discharge of Andrzej Weglowski (Management Board Member)

For

For

11.3 Approve Discharge of Marcin Wit Szewczykowski (Management Board Member)

For

For

11.4 Approve Discharge of Dominik Soltysik (Management Board Member)

For

For

12.1 Approve Discharge of Sophie Stabile (Supervisory Board Member)

For

For

12.2 Approve Discharge of Jacek Ksen (Supervisory Board Member)

For

For

12.3 Approve Discharge of Artur Gabor (Supervisory Board Member)

For

For

12.4 Approve Discharge of Christian Karaoglanian (Supervisory Board Member)

For

For

12.5 Approve Discharge of Andrzej Procajlo (Supervisory Board Member) For

For

12.6 Approve Discharge of Andrzej Przytula (Supervisory Board Member) For

For

12.7 Approve Discharge of Jaroslaw Szymanski (Supervisory Board Member)

For

For

12.8 Approve Discharge of Bruno Coudry (Supervisory Board Member)

For

For

12.9 Approve Discharge of Laurent Picheral (Supervisory Board Member) For

For

12.10 Approve Discharge of Jan Ozinga (Supervisory Board Member)

For

For

12.11 Approve Discharge of Jean-Jacques Morin (Supervisory Board Member)

For

For

1 Approve Final Dividend

For

For

2 Elect Robert Wong Lum Kong as Director

For

For

3 Elect Lim Su Tong as Director

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 4 Elect Ghazi bin Ishak as Director

29/06/2017 Japan

Annual

For

Against For

7 Approve Directors' Benefits from January 1, 2017 Until the Next Annual General Meeting

For

Against

8 Approve KPMG PLT as Auditors and Authorize Board to Fix Their Remuneration

For

For

9 Approve Implementation of Shareholders' Mandate for Recurrent Related Party Transactions

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 20

For For

2.2 Elect Director Uenishi, Kyoichiro

For

For

For

For

2.4 Elect Director Takano, Yumiko

For

For

2.5 Elect Director Katayama, Yuichi

For

For

2.6 Elect Director Yokota, Akiyoshi

For

For

2.7 Elect Director Hanada, Tsutomu

For

For

2.8 Elect Director Mogi, Yuzaburo

For

For

1 Amend Articles to Amend Business Lines

For

For

For

For

For

For

2.1 Elect Director Inoue, Makoto

For

For

2.2 Elect Director Kojima, Kazuo

For

For

2.3 Elect Director Nishigori, Yuichi

For

For

2.4 Elect Director Fushitani, Kiyoshi

For

For

2.5 Elect Director Stan Koyanagi

For

For

2.6 Elect Director Takahashi, Hideaki

For

For

2.7 Elect Director Tsujiyama, Eiko

For

For

2.8 Elect Director Robert Feldman

For

For

2.9 Elect Director Niinami, Takeshi

248

For For

2.3 Elect Director Irie, Norio

2.9 Elect Director Takahashi, Wataru Annual

For

For

2.10 Elect Director Sato, Tetsuro 27/06/2017 Japan

For

5 Elect Intan binti S. M. Aidid as Director

2.1 Elect Director Kagami, Toshio

Orix Corp.

Vote Instruction Voter Rationale

6 Approve Remuneration of Directors for the Financial Year Ended December 31, 2016

10 Authorize Share Repurchase Program Oriental Land Co., Ltd.

Mgmt Rec

For

For

2.10 Elect Director Usui, Nobuaki

For

For

2.11 Elect Director Yasuda, Ryuji

For

For

Concerns about overall board structure

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Connection with Reverse Stock Split

For

2.12 Elect Director Takenaka, Heizo Osaka Gas Co. Ltd.

P2P Global Investments PLC

Pacific Assets Trust plc

249

29/06/2017 Japan

29/06/2017 United Kingdom

29/06/2017 United Kingdom

Annual

Annual

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 5

3.1 Elect Director Ozaki, Hiroshi

For

For

3.2 Elect Director Honjo, Takehiro

For

For

3.3 Elect Director Matsuzaka, Hidetaka

For

For

3.4 Elect Director Setoguchi, Tetsuo

For

For

3.5 Elect Director Fujiwara, Masataka

For

For

3.6 Elect Director Yano, Kazuhisa

For

For

3.7 Elect Director Fujiwara, Toshimasa

For

For

3.8 Elect Director Miyagawa, Tadashi

For

For

3.9 Elect Director Nishikawa, Hideaki

For

For

3.10 Elect Director Matsui, Takeshi

For

For

3.11 Elect Director Morishita, Shunzo

For

For

3.12 Elect Director Miyahara, Hideo

For

For

3.13 Elect Director Sasaki, Takayuki

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Dividend Policy

For

For

4 Re-elect Stuart Cruickshank as Director

For

For

5 Re-elect Simon King as Director

For

For

6 Re-elect Michael Cassidy as Director

For

For

7 Elect Mahnaz Akbary-Safa as Director

For

For

8 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

9 Authorise the Audit and Valuation Committee to Fix Remuneration of Auditors

For

For

10 Authorise Issue of Equity with Pre-emptive Rights

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

12 Authorise Market Purchase of Ordinary Shares

For

For

13 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

PageGroup plc

250

Meeting Date Country

08/06/2017 United Kingdom

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect Charlotta Ginman as Director

For

For

6 Re-elect Sian Hansen as Director

For

For

7 Re-elect Terence Mahony as Director

For

For

8 Elect Robert Talbut as Director

For

For

9 Re-elect James Williams as Director

For

For

10 Reappoint KPMG LLP as Auditors

For

For

11 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Market Purchase of Ordinary Shares

For

For

15 Authorise the Company to Call General Meeting with 14 Working Days' Notice

For

For

16 Approve Change of Investment Objective

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect David Lowden as Director

For

For

6 Re-elect Simon Boddie as Director

For

For

7 Re-elect Patrick De Smedt as Director

For

For

8 Re-elect Danuta Gray as Director

For

For

9 Re-elect Steve Ingham as Director

For

For

10 Re-elect Kelvin Stagg as Director

For

For

11 Elect Michelle Healy as Director

For

For

12 Reappoint Ernst & Young LLP as Auditors

For

For

13 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise EU Political Donations and Expenditure

For

For

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with 14 Business Days' Notice

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 19 Approve Executive Single Incentive Plan

Panasonic Corp

Payden Global Funds plc- Payden Absolute Return Bond Fund

29/06/2017 Japan

14/06/2017 Ireland

Annual

Annual

1 Amend Articles to Amend Provisions on Director Titles

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

2.1 Elect Director Nagae, Shusaku

For

For

2.2 Elect Director Matsushita, Masayuki

For

For

2.3 Elect Director Tsuga, Kazuhiro

For

For

2.4 Elect Director Ito, Yoshio

For

For

2.5 Elect Director Sato, Mototsugu

For

For

2.6 Elect Director Oku, Masayuki

For

For

2.7 Elect Director Tsutsui, Yoshinobu

For

For

2.8 Elect Director Ota, Hiroko

For

For

2.9 Elect Director Toyama, Kazuhiko

For

For

2.10 Elect Director Ishii, Jun

For

For

2.11 Elect Director Higuchi, Yasuyuki

For

For

2.12 Elect Director Umeda, Hirokazu

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify Deloitte & Touche as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

For

For

Ordinary Resolutions

Special Resolution 1 Amend Memorandum and Articles of Association Pebblebrook Hotel Trust

Pegasystems Inc.

251

30/06/2017 USA

21/06/2017 USA

Annual

Annual

1.1 Elect Director Jon E. Bortz

For

For

1.2 Elect Director Cydney C. Donnell

For

For

1.3 Elect Director Ron E. Jackson

For

Withhold

Concerns about candidate

1.4 Elect Director Phillip M. Miller

For

Withhold

Concerns about candidate

1.5 Elect Director Michael J. Schall

For

For

1.6 Elect Director Earl E. Webb

For

For

1.7 Elect Director Laura H. Wright

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Adopt Majority Voting for Uncontested Election of Directors

For

For

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

For

For

1.1 Elect Director Peter Gyenes

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Pegatron Corp.

Pennsylvania Real Estate Investment Trust

PetroChina Company Limited

Meeting Date Country

20/06/2017 Taiwan

01/06/2017 USA

08/06/2017 China

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.2 Elect Director Richard H. Jones

For

For

1.3 Elect Director Steven F. Kaplan

For

Against

1.4 Elect Director Dianne Ledingham

For

For

1.5 Elect Director James P. O'Halloran

For

Against

1.6 Elect Director Sharon Rowlands

For

For

1.7 Elect Director Alan Trefler

For

For

Concerns about overall board structure

1.8 Elect Director Larry Weber

For

For

1.9 Elect Director William W. Wyman

For

Against

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Deloitte & Touche LLP as Auditors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Approve Amendments to Procedures Governing the Acquisition or Disposal of Assets

For

For

1.1 Elect Director George J. Alburger, Jr.

For

For

1.2 Elect Director Joseph F. Coradino

For

For

1.3 Elect Director Michael J. DeMarco

For

For

1.4 Elect Director Leonard I. Korman

For

Withhold

1.5 Elect Director Mark E. Pasquerilla

For

For

1.6 Elect Director Charles P. Pizzi

For

For

Concerns about overall board structure

1.7 Elect Director John J. Roberts

For

For

1.8 Elect Director Ronald Rubin

For

Withhold

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Amend Omnibus Stock Plan

For

Against

5 Ratify KPMG LLP as Auditors

For

For

For

For

Concerns about linkage between pay and performance

AGM BALLOT FOR HOLDERS OF H SHARES 1 Approve 2016 Report of the Board of Directors

252

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve Final Dividend

For

For

5 Authorize Board to Determine the Distribution of Interim Dividends For

For

6 Approve KPMG Huazhen as Domestic Auditors and KPMG as International Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

8 Approve Issuance of Debt Financing Instruments

For

For

9.1 Elect Wang Yilin as Director

For

For

9.2 Elect Wang Dongjin as Director

For

For

9.3 Elect Yu Baocai as Director

For

Abstain

9.4 Elect Liu Yuezhen as Director

For

For

9.5 Elect Liu Hongbin as Director

For

For

9.6 Elect Hou Qijun as Director

For

For

9.7 Elect Duan Liangwei as Director

For

For

9.8 Elect Qin Weizhong as Director

For

For

9.9 Elect Lin Boqiang as Director 9.10 Elect Zhang Biyi as Director

Petropavlovsk PLC

253

22/06/2017 United Kingdom

Annual

For

For

For

For

9.11 Elect Elsie Leung Oi-sie as Director

For

For

9.12 Elect Tokuchi Tatsuhito as Director

For

For

9.13 Elect Simon Henry as Director

For

For

10.1 Elect Xu Wenrong as Supervisor

For

For

10.2 Elect Zhang Fengshan as Supervisor

For

For

10.3 Elect Jiang Lifu as Supervisor

For

For

10.4 Elect Lu Yaozhong as Supervisor

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Reappoint Deloitte LLP as Auditors

For

For

5 Authorise Board to Fix Remuneration of Auditors

For

For

Concerns to protect shareholder interests

Concerns about candidate

Management Proposals

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Elect Vladislav Egorov, a Shareholder Nominee to the Board

Against

Against

7 Elect Bruce Buck, a Shareholder Nominee to the Board

Against

Against

8 Elect Ian Ashby, a Shareholder Nominee to the Board

Against

Against

9 Elect Garrett Soden, a Shareholder Nominee to the Board

Against

Against

10 Re-elect Dr Pavel Maslovskiy as Director

For

For

11 Re-elect Andrey Maruta as Director

For

For

12 Re-elect Robert Jenkins as Director

For

For

13 Re-elect Alexander Green as Director

For

For

14 Re-elect Andrew Vickerman as Director

For

For

15 Re-elect Peter Hambro as Director

For

For

16 Authorise Issue of Equity with Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

Shareholder Proposals

Continuation of Management Proposals

PGE Polska Grupa Energetyczna SA

27/06/2017 Poland

Annual

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman

For

For

4 Approve Agenda of Meeting

For

For

5 Resolve Not to Elect Members of Vote Counting Commission

For

For

6 Approve Financial Statements

For

For

7 Approve Consolidated Financial Statements

For

For

8 Approve Management Board Report on Company's and Group's Operations

For

For

9 Approve Allocation of Income

For

For

3 Acknowledge Proper Convening of Meeting

254

10.1 Approve Discharge of Anna Kowalik (Supervisory Board Chairman)

For

For

10.2 Approve Discharge of Jacek Barylski (Supervisory Board Deputy Chairman)

For

For

10.3 Approve Discharge of Malgorzata Molas (Supervisory Board Member)

For

For

10.4 Approve Discharge of Malgorzata Mika-Bryska (Supervisory Board Deputy Chairman)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10.5 Approve Discharge of Jaroslaw Golebiewski (Supervisory Board Member)

For

For

10.6 Approve Discharge of Piotr Machnikowski (Supervisory Board Member)

For

For

10.7 Approve Discharge of Marek Sciazko (Supervisory Board Member)

For

For

10.8 Approve Discharge of Jacek Fotek (Supervisory Board Member)

For

For

10.9 Approve Discharge of Marek Pastuszko (Supervisory Board Member) For

For

10.10 Approve Discharge of Pawel Sliwa (Supervisory Board Member)

For

For

10.11 Approve Discharge of Janina Goss (Supervisory Board Member)

For

For

10.12 Approve Discharge of Mateusz Gramza (Supervisory Board Member)

For

For

10.13 Approve Discharge of Jaroslaw Glowacki (Supervisory Board Member)

For

For

10.14 Approve Discharge of Witold Kozlowski (Supervisory Board Member)

For

For

10.15 Approve Discharge of Grzegorz Kuczynski (Supervisory Board Member)

For

For

10.16 Approve Discharge of Radoslaw Osinski (Supervisory Board Member)

For

For

10.17 Approve Discharge of Mieczyslaw Sawaryn (Supervisory Board Member)

For

For

10.18 Approve Discharge of Artur Skladanek (Supervisory Board Member)

For

For

10.19 Approve Discharge of Marek Woszczyk (CEO)

For

For

10.20 Approve Discharge of Dariusz Marzec (Deputy CEO)

For

For

10.21 Approve Discharge of Grzegorz Krystek (Deputy CEO)

For

For

10.22 Approve Discharge of Jacek Drozd (Deputy CEO)

For

For

10.23 Approve Discharge of Henryk Baranowski (CEO)

For

For

10.24 Approve Discharge of Ryszard Wasilek (Deputy CEO)

For

For

10.25 Approve Discharge of Boleslaw Jankowski (Deputy CEO)

For

For

10.26 Approve Discharge of Marek Pastuszko (Deputy CEO)

For

For

10.27 Approve Discharge of Emil Wojtowicz (Deputy CEO)

For

For

10.28 Approve Discharge of Marta Gajecka (Deputy CEO)

For

For

10.29 Approve Discharge of Pawel Sliwa (Management Board Member)

For

For

Shareholder Proposals

255

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 11 Amend Dec. 14, 2016, EGM Resolution Re: Approve Remuneration of Members of Management Board 12.1 Amend Statute

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

Concerns to protect shareholder interests

None

Against

Concerns to protect shareholder interests

12.2 Amend Statute Re: Management Board

None

For

12.3 Amend Statute Re: Management Board

None

For

12.4 Amend Statute Re: Supervisory Board

None

For

12.5 Amend Statute Re: General Meeting

None

For

12.6 Amend Statute

None

For

12.7 Amend Statute

None

For

12.8 Amend Statute

None

For

For

Against

14.1 Approve Disposal of Company's Assets

None

For

14.2 Approve Regulations on Agreements for Legal Services, Marketing Services, Public Relations Services, and Social Communication Services, and Management Advisory Services

None

For

14.3 Approve Regulations on Agreements for Donations, Debt Exemptions, and Similar Agreements

None

For

14.4 Approve Regulations on Disposal of Assets

None

For

14.5 Approve Obligation of Publication of Statements on Expenses Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services

None

For

14.6 Approve Requirements for Candidates to Management Board

None

For

14.7 Approve Regulations on Election and Recruitment Process of Management Board Members

None

For

14.8 Approve Fulfilment of Obligations from Articles 17.7, 18.2, 20, and 23 of Act on State Property Management

None

For

13 Authorize Supervisory Board to Approve Consolidated Text of Statute

Concerns to protect shareholder interests

15.1 Recall Supervisory Board Member

None

Against

Concerns to protect shareholder interests

15.2 Elect Supervisory Board Member

None

Against

Concerns to protect shareholder interests

1 Approve 2009 - 2015 Consolidated Financial Statements

For

For

2 Approve Business Operations Report and Financial Statements

For

For

16 Receive Report on Recruitment Process of Management Board Members 17 Close Meeting Phison Electronics Corp.

256

13/06/2017 Taiwan

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

4.1 Elect Shu Fen Wang as Independent Director

For

Against

Votes to favour our preferred candidates

4.2 Elect Chen Wei Wang as Independent Director

For

Against

Votes to favour our preferred candidates

4.3 Elect Khein Seng Pua with Shareholder No.2 as Non-independent Director

For

For

Votes to favour our preferred candidates

4.4 Elect Cheek Kong Aw Yong with Shareholder No.12 as Non-independent Director

For

For

Votes to favour our preferred candidates

4.5 Elect Tzung Horng Kuang with Shareholder No.33 as Non-independent Director

For

For

Votes to favour our preferred candidates

4.6 Elect Chih Jen Hsu with Shareholder No.14 as Non-independent Director

For

For

Votes to favour our preferred candidates

4.7 Elect Hiroto Nakai, a Representative of Toshiba Memory Semiconductor Taiwan Corporation with Shareholder No.90065 as Non-independent Director

For

For

Votes to favour our preferred candidates

4.8 Elect Yeong Jiunn Yang with Shareholder No.13 as Supervisor

For

For

Votes to favour our preferred candidates

4.9 Elect Huei Ming Wang with Shareholder No.12853 as Supervisor

For

For

Votes to favour our preferred candidates

3 Approve Plan on Profit Distribution ELECT NON-INDEPENDENT DIRECTORS, INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING

4.10 Elect Chiun Hsiou Chen as Supervisor

For

For

Votes to favour our preferred candidates

5 Approve Issuance of Shares via a Private Placement

For

Against

The associated dilution is excessive

6 Approve Amendments to Articles of Association

For

For

7 Amend Procedures Governing the Acquisition or Disposal of Assets, Procedures for Lending Funds to Other Parties, Procedures for Endorsement and Guarantees and Trading Procedures Governing Derivatives Products

For

Against

8 Approve Amendments to Rules and Procedures Regarding Shareholder's General Meeting

For

For

9 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

For

Phoenix Spree Deutschland Limited

26/06/2017 Jersey

Special

1 Adopt the Investment Policy

For

For

Phoenix Spree Deutschland Limited

26/06/2017 Jersey

Annual

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Final Dividend

For

For

4 Re-elect Richard Prosser as Director

For

For

5 Re-elect Matthew Northover as Director

For

For

6 Re-elect Quentin Spicer as Director

For

For

257

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

PICC Property and Casualty Co., Ltd.

Ping An Insurance (Group) Co. of China, Ltd.

Meeting Date Country

23/06/2017 China

16/06/2017 China

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Re-elect Andrew Weaver as Director

For

For

8 Ratify RSM UK Audit LLP as Auditors

For

For

9 Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

For

For

10 Authorise Market Purchase of Ordinary Shares

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements and Auditor's Report

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Directors' Fees

For

For

6 Approve 2017 Supervisors' Fees

For

For

7 Approve Deloitte Touche Tohmatsu as International Auditor and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration

For

For

8 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Annual Report and its Summary

For

For

4 Approve 2016 Report of the Auditors and the Audited Financial Statements

For

For

5 Approve 2016 Profit Distribution Plan and Distribution of Final Dividends

For

For

6 Approve PricewaterhouseCoopers Zhong Tian LLP as the PRC Auditor and PricewaterhouseCoopers as the International Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Elect Ouyang Hui as Director

For

For

8 Approve Autohome Inc. Share Incentive Plan

For

Against

Concerns to protect shareholder interests

9 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

10 Approve Issuance of Debt Financing Instruments Piraeus Bank SA

258

28/06/2017 Greece

Annual

Concerns to protect shareholder interests

Annual Meeting Agenda

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3 Approve Discharge of Board and Auditors

For

For

4 Ratify Auditors

For

For

5 Approve Director Remuneration

For

For

6 Elect Directors

For

For

7 Appoint Members of Audit Committee

For

For

8 Authorize Board to Participate in Companies with Similar Business Interests

For

For

9 Approve Related Party Transactions

For

For

For

For

For

For

1 Approve the Audited Financial Statements for the Fiscal Year Ending For December 31, 2016

For

1 Accept Financial Statements and Statutory Reports 2 Announcement of Appointment of Board Members

10 Approve Reverse Stock Split 11 Various Announcements Piramal Enterprises Limited

14/06/2017 India

Special

Postal Ballot 1 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

PLDT Inc.

13/06/2017 Philippines

Annual

Elect 13 Directors by Cumulative Voting

Polar Capital Global Healthcare Growth 01/06/2017 United Kingdom and Income Trust plc

259

Special

2.1 Elect Bernido H. Liu as Director

For

For

2.2 Elect Artemio V. Panganiban as Director

For

For

2.3 Elect Pedro E. Roxas as Director

For

For

2.4 Elect Helen Y. Dee as Director

For

For

2.5 Elect Ray C. Espinosa as Director

For

For

2.6 Elect James L. Go as Director

For

For

2.7 Elect Hideaki Ozaki as Director

For

For

2.8 Elect Manuel V. Pangilinan as Director

For

For

2.9 Elect Ma. Lourdes C. Rausa-Chan as Director

For

For

2.10 Elect Albert F. del Rosario as Director

For

For

2.11 Elect Atsuhisa Shirai as Director

For

For

2.12 Elect Amado D. Valdez as Director

For

For

2.13 Elect Marife B. Zamora as Director

For

For

For

For

1 Amend the Investment Management Agreement

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

4 Approve Agenda of Meeting

For

For

5 Elect Members of Vote Counting Commission

For

For

10 Approve Management Board Report on Company's and Group's Operations

For

For

11 Approve Financial Statements

For

For

12 Approve Consolidated Financial Statements

For

For

2 Approve Tender Offer; Authorise Issue of Ordinary Shares; Disapply Pre-emption Rights; Approve Capital Raising; Authorise Market Purchase of Ordinary Shares; Approve New Investment Policy; Adopt New Articles of Association; Cancel Share Premium Account Polski Koncern Naftowy Orlen SA

30/06/2017 Poland

Annual

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting

6 Receive Management Board Report on Company's and Group's Operations 7 Receive Financial Statements and Management Board Proposal on Allocation of Income 8 Receive Consolidated Financial Statements 9 Receive Supervisory Board Report

13 Approve Allocation of Income and Dividends of PLN 3 per Share

260

For

For

14.1 Approve Discharge of Wojciech Jasinski (Management Board Member)

For

For

14.2 Approve Discharge of Miroslaw Kochalski (Management Board Member)

For

For

14.3 Approve Discharge of Slawomir Jedrzejczyk (Management Board Member)

For

For

14.4 Approve Discharge of Krystian Pater (Management Board Member)

For

For

14.5 Approve Discharge of Zbigniew Leszczynski (Management Board Member)

For

For

14.6 Approve Discharge of Piotr Chelminski (Management Board Member)

For

For

14.7 Approve Discharge of Marek Podstawa (Management Board Member)

For

For

15.1 Approve Discharge of Angelina Sarota (Supervisory Board Member)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

15.2 Approve Discharge of Radoslaw Kwasnicki (Supervisory Board Member)

For

For

15.3 Approve Discharge of Leszek Pawlowicz (Supervisory Board Member)

For

For

15.4 Approve Discharge of Grzegorz Borowiec (Supervisory Board Member)

For

For

15.5 Approve Discharge of Artur Gabor (Supervisory Board Member)

For

For

15.6 Approve Discharge of Cezary Banasinski (Supervisory Board Member)

For

For

15.7 Approve Discharge of Cezary Mozenski (Supervisory Board Member) For

For

15.8 Approve Discharge of Adam Ambrozik (Supervisory Board Member)

For

For

15.9 Approve Discharge of Remigiusz Nowakowski (Supervisory Board Member)

For

For

15.10 Approve Discharge of Mateusz Bochacik (Supervisory Board Member)

For

For

15.11 Approve Discharge of Adrian Dworzynski (Supervisory Board Member)

For

For

15.12 Approve Discharge of Agnieszka Krzetowska (Supervisory Board Member)

For

For

15.13 Approve Discharge of Arkadiusz Siwek (Supervisory Board Member) For

For

15.14 Approve Discharge of Wieslaw Protasewicz (Supervisory Board Member)

For

For

16 Amend Jan. 24, 2017, EGM Resolution Re: Remuneration Policy for Management Board Members

None

Against

17 Approve Changes in Composition of Supervisory Board

None

Against

18 Amend Statute

None

Against

Shareholder Proposals

261

19.1 Approve Disposal of Company's Assets

None

Against

19.2 Approve Regulations on Agreements for Legal Services, Marketing Services, Public Relations Services, and Social Communication Services

None

Against

19.3 Approve Regulations on Agreements for Donations, Debt Exemptions, and Similar Agreements

None

Against

19.4 Approve Regulations on Disposal of Assets

None

Against

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 19.5 Approve Obligation of Publication of Statements on Expenses Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

19.6 Approve Requirements for Candidates to Management Board

None

Against

19.7 Approve Fulfilment of Obligations from Articles 17.7, 18.2, 20, and 23 of Act on State Property Management

None

Against

For

For

5 Approve Agenda of Meeting

For

For

6 Approve Financial Statements

For

For

7 Approve Consolidated Financial Statements and Management Board Report on Company's and Group's Operations

For

For

For

For

Management Proposal 20 Close Meeting Polskie Gornictwo Naftowe i Gazownictwo S.A. (PGNiG)

28/06/2017 Poland

Annual

Management Proposals 1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting 4 Prepare List of Shareholders

8.1 Approve Discharge of Piotr Wozniak (CEO)

262

8.2 Approve Discharge of Radoslaw Bartosik (Deputy CEO)

For

For

8.3 Approve Discharge of Janusz Kowalski (Deputy CEO)

For

For

8.4 Approve Discharge of Lukasz Kroplewski (Deputy CEO)

For

For

8.5 Approve Discharge of Boguslaw Marzec (Deputy CEO)

For

For

8.6 Approve Discharge of Michal Pietrzyk (Deputy CEO)

For

For

8.7 Approve Discharge of Maciej Wozniak (Deputy CEO)

For

For

8.8 Approve Discharge of Waldemar Wojcik (Deputy CEO)

For

For

9.1 Approve Discharge of Grzegorz Nakonieczny (Supervisory Board Chairman)

For

For

9.2 Approve Discharge of Bartlomiej Nowak (Supervisory Board Deputy For Chairman)

For

9.3 Approve Discharge of Wojciech Bienkowski (Supervisory Board Deputy Chairman)

For

For

9.4 Approve Discharge of Slawomir Borowiec (Supervisory Board Member)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.5 Approve Discharge of Mateusz Boznanski (Supervisory Board Member)

For

For

9.6 Approve Discharge of Andrzej Gonet (Supervisory Board Member)

For

For

9.7 Approve Discharge of Krzysztof Rogala (Supervisory Board Member) For

For

9.8 Approve Discharge of Piotr Sprzaczak (Supervisory Board Member)

For

For

9.9 Approve Discharge of Ryszard Wasowicz (Supervisory Board Member)

For

For

9.10 Approve Discharge of Anna Wellisz (Supervisory Board Member)

For

For

9.11 Approve Discharge of Piotr Wozniak (Supervisory Board Member)

For

For

9.12 Approve Discharge of Magdalena Zegarska (Supervisory Board Member)

For

For

For

For

11.1 Recall Supervisory Board Member

10 Approve Allocation of Income and Dividends of PLN 0.20 per Share

For

Against

Substance of resolution unclear at time of voting

11.2 Elect Supervisory Board Member

For

Against

Substance of resolution unclear at time of voting

For

For

None

For

12 Approve Purchase of Real Estate Property from Geofizyka Krakow S.A. Shareholder Proposals 13 Amend Statute

14 Amend Nov. 24, 2016, EGM Resolution Re: Remuneration Policy for None Management Board Members

Against

Concerns to protect shareholder interests

Management Proposal 15 Close Meeting Postal Savings Bank of China Co., Ltd.

08/06/2017 China

Annual

1 Approve Work Report of the Board of Directors

For

For

2 Approve Work Report of the Board of Supervisors

For

For

3 Approve Final Financial Accounts

For

For

4 Approve Profit Distribution Plan

For

For

5 Approve PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers as External Auditors

For

For

6.1 Elect Liu Yue as Director

For

For

6.2 Elect Ding Xiangming as Director

For

For

7 Elect Hu Xiang as Director

For

For

8 Approve Remuneration Plan for New Directors

For

For

9 Amend Rules of Procedures of Shareholders' General Meetings

For

For

RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF OFFSHORE PREFERENCE SHARES

263

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

10.2 Approve Number of Preference Shares to be Issued and Issue Size in For Relation to the Non-Public Issuance of Offshore Preference Shares

For

10.3 Approve Par Value and Issue Price in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.4 Approve Maturity in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.5 Approve Method of Issuance and Target Investors in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.6 Approve Lock-up Period in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.7 Approve Dividend Distribution Terms in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.8 Approve Terms of Mandatory Conversion in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.9 Approve Terms of Conditional Redemption in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.10 Approve Restrictions on Voting Rights and Terms of Restoration of Voting Rights in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.11 Approve Order of Distribution on Liquidation and Procedures for Liquidation in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.12 Approve Rating Arrangements in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.13 Approve Security in Relation to the Non-Public Issuance of Offshore For Preference Shares

For

10.14 Approve Use of Proceeds in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.15 Approve Listing/Trading Arrangements in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10.16 Approve Validity Period of the Resolution for the Issuance of Offshore Preference Shares

For

For

10.17 Approve Authorization to the Board and Its Authorized Persons to Handle All Matters Relating to the Non-Public Issuance of Offshore Preference Shares

For

For

For

For

10.1 Approve Type of Preference Shares to be Issued in Relation to the Non-Public Issuance of Offshore Preference Shares

11 Amend Articles of Association

264

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Postal Savings Bank of China Co., Ltd.

Meeting Date Country 08/06/2017 China

Meeting Type Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2 Approve Number of Preference Shares to be Issued and Issue Size in For Relation to the Non-Public Issuance of Offshore Preference Shares

For

3 Approve Par Value and Issue Price in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

4 Approve Maturity in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

5 Approve Method of Issuance and Target Investors in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

6 Approve Lock-up Period in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

7 Approve Dividend Distribution Terms in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

8 Approve Terms of Mandatory Conversion in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

9 Approve Terms of Conditional Redemption in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

10 Approve Restrictions on Voting Rights and Terms of Restoration of Voting Rights in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

11 Approve Order of Distribution on Liquidation and Procedures for Liquidation in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

12 Approve Rating Arrangements in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

13 Approve Security in Relation to the Non-Public Issuance of Offshore For Preference Shares

For

14 Approve Use of Proceeds in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

15 Approve Listing/Trading Arrangements in Relation to the Non-Public Issuance of Offshore Preference Shares

For

For

16 Approve Validity Period of the Resolution for the Issuance of Offshore Preference Shares

For

For

CLASS MEETING FOR HOLDERS OF H SHARES RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF OFFSHORE PREFERENCE SHARES 1 Approve Type of Preference Shares to be Issued in Relation to the Non-Public Issuance of Offshore Preference Shares

265

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

For

For

For

For

For

For

17 Approve Authorization to the Board and Its Authorized Persons to Handle All Matters Relating to the Non-Public Issuance of Offshore Preference Shares Pou Chen Corporation

Powszechna Kasa Oszczednosci Bank Polski SA

15/06/2017 Taiwan

22/06/2017 Poland

Annual

Annual

1 Open Meeting 2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting 4 Approve Agenda of Meeting 5 Receive Management Board Report on Company's Operations, Financial Statements, and Management Board Proposal on Allocation of Income 6 Receive Management Board Report on Group's Operations and Consolidated Financial Statements 7 Receive Supervisory Board Report 8.1 Approve Management Board Report on Company's Operations

266

8.2 Approve Financial Statements

For

For

8.3 Approve Management Board Report on Group's Operations

For

For

8.4 Approve Consolidated Financial Statements

For

For

8.5 Approve Supervisory Board Report

For

For

8.6 Approve Allocation of Income

For

For

8.7a Approve Discharge of Zbigniew Jagiello (CEO)

For

For

8.7b Approve Discharge of Janusz Derda (Deputy CEO)

For

For

8.7c Approve Discharge of Bartosz Drabikowski (Deputy CEO)

For

For

8.7d Approve Discharge of Maks Kraczkowski (Deputy CEO)

For

For

8.7e Approve Discharge of Mieczyslaw Krol (Deputy CEO)

For

For For

8.7f Approve Discharge of Piotr Mazur (Deputy CEO)

For

8.7g Approve Discharge of Jakub Papierski (Deputy CEO)

For

For

8.7h Approve Discharge of Jan Rosciszewski (Deputy CEO)

For

For

8.7i Approve Discharge of Piotr Alicki (Deputy CEO)

For

For

8.7j Approve Discharge of Jaroslaw Myjak (Deputy CEO)

For

For

8.7k Approve Discharge of Jacek Oblekowski (Deputy CEO)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8.8a Approve Discharge of Piotr Sadownik (Supervisory Board Chairman) For

For

8.8b Approve Discharge of Grazyna Ciurzynska (Supervisory Board Deputy Chairman)

For

For

8.8c Approve Discharge of Zbigniew Hajlasz (Supervisory Board Member)

For

For

8.8d Approve Discharge of Miroslaw Barszcz (Supervisory Board Member)

For

For

8.8e Approve Discharge of Adam Budnikowski (Supervisory Board Member)

For

For

8.8f Approve Discharge of Wojciech Jasinski (Supervisory Board Member)

For

For

8.8g Approve Discharge of Andrzej Kisielewicz (Supervisory Board Member)

For

For

8.8h Approve Discharge of Elzbieta Maczynska-Ziemacka (Supervisory Board Member)

For

For

8.8i Approve Discharge of Janusz Ostaszewski (Supervisory Board Member)

For

For

8.8j Approve Discharge of Jerzy Gora (Supervisory Board Member)

For

For

8.8k Approve Discharge of Miroslaw Czekaj (Supervisory Board Deputy Chairman)

For

For

8.8l Approve Discharge of Piotr Marczak (Supervisory Board Member)

For

For

8.8m Approve Discharge of Marek Mroczkowski (Supervisory Board Member)

For

For

8.8n Approve Discharge of Krzysztof Kilian (Supervisory Board Member)

For

For

8.8o Approve Discharge of Zofia Dzik (Supervisory Board Member)

For

For

8.8p Approve Discharge of Malgorzata Dec-Kruczkowska (Supervisory Board Member)

For

For

8.8q Approve Discharge of Agnieszka Winnik-Kalemba (Supervisory Board Member)

For

For

10 Elect Supervisory Board Member

For

Against

11 Amend Statute Re: Corporate Purpose

For

For

9 Receive Supervisory Board Report on Remuneration Policy and Compliance with Corporate Governance Principles Substance of resolution unclear at time of voting

12 Close Meeting Powszechny Zaklad Ubezpieczen SA

29/06/2017 Poland

Annual

Management Proposals 1 Open Meeting

267

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

For

For

11 Approve Financial Statements

For

For

12 Approve Management Board Report on Company's Operations

For

For

13 Approve Consolidated Financial Statements

For

For

14 Approve Management Board Report on Group's Operations

For

For

2 Elect Meeting Chairman 3 Acknowledge Proper Convening of Meeting 4 Approve Agenda of Meeting 5 Receive Financial Statements 6 Receive Management Board Report on Company's Operations 7 Receive Consolidated Financial Statements 8 Receive Management Board Report on Group's Operations 9 Receive Supervisory Board Reports on Its Review of Financial Statements, Management Board Report, and Management Board Proposal on Allocation of Income 10 Receive Supervisory Board Report on Its Activities

268

15 Approve Allocation of Income and Dividends of PLN 1.40 per Share

For

For

16.1 Approve Discharge of Przemyslaw Dabrowski (Management Board Member)

For

For

16.2 Approve Discharge of Rafal Grodzicki (Management Board Member) For

For

16.3 Approve Discharge of Roger Hodgkiss (Management Board Member)

For

For

16.4 Approve Discharge of Andrzej Jaworski (Management Board Member)

For

For

16.5 Approve Discharge of Sebastian Klimek (Management Board Member)

For

For

16.6 Approve Discharge of Beata Kozlowska-Chyla (Management Board Member)

For

For

16.7 Approve Discharge of Michal Krupinski (Management Board Member)

For

For

16.8 Approve Discharge of Dariusz Krzewina (Management Board Member)

For

For

16.9 Approve Discharge of Tomasz Kulik (Management Board Member)

For

For

16.10 Approve Discharge of Robert Pietryszyn (Management Board Member)

For

For

16.11 Approve Discharge of Maciej Rapkiewicz (Management Board Member)

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

16.12 Approve Discharge of Pawel Surowka (Management Board Member)

For

For

16.13 Approve Discharge of Tomasz Tarkowski (Management Board Member)

For

For

17.1 Approve Discharge of Marcin Chludzinski (Supervisory Board Member)

For

For

17.2 Approve Discharge of Zbigniew Cwiakalski (Supervisory Board Member)

For

For

17.3 Approve Discharge of Zbigniew Derdziuk (Supervisory Board Member)

For

For

17.4 Approve Discharge of Dariusz Filar (Supervisory Board Member)

For

For

17.5 Approve Discharge of Marcin Gargas (Supervisory Board Member)

For

For

17.6 Approve Discharge of Dariusz Kacprzyk (Supervisory Board Member)

For

For

17.7 Approve Discharge of Pawel Kaczmarek (Supervisory Board Member)

For

For

17.8 Approve Discharge of Jakub Karnowski (Supervisory Board Member) For

For

17.9 Approve Discharge of Eligiusz Krzesniak (Supervisory Board Member)

For

For

17.10 Approve Discharge of Aleksandra Magaczewska (Supervisory Board Member)

For

For

17.11 Approve Discharge of Alojzy Nowak (Supervisory Board Member)

For

For

17.12 Approve Discharge of Jerzy Paluchniak (Supervisory Board Member) For

For

17.13 Approve Discharge of Piotr Paszko (Supervisory Board Member)

For

For

17.14 Approve Discharge of Maciej Piotrowski (Supervisory Board Member)

For

For

17.15 Approve Discharge of Radoslaw Potrzeszcz (Supervisory Board Member)

For

For

17.16 Approve Discharge of Piotr Walkowiak (Supervisory Board Member) For

For

17.17 Approve Discharge of Maciej Zaborowski (Supervisory Board Member)

For

For

18 Amend Feb. 8, 2017, EGM, Resolution Re: Remuneration Policy for Management Board Members

None

Against

19 Amend Statute

None

For

None

Against

Shareholder Proposals

20.1 Recall Supervisory Board Member

269

Proposal enhances accountability

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

For

For

5.2 Elect Chen Fan Meijin, Representative of Bao Ya Investment Co., Ltd. For with Shareholder No. 4 as Non-Independent Director

For

5.3 Elect Chen Zongcheng with Shareholder No. 9 as Non-Independent For Director

For

5.4 Elect Chen Mingxian with ID No. E121429XXX as Non-Independent For Director

For

5.5 Elect Lin Caiyuan with ID No. E101089XXX as Independent Director

For

For

5.6 Elect Liu Zhihong with ID No. R122163XXX as Independent Director

For

For

5.7 Elect Zhong Junrong with ID No. T122051XXX as Independent Director

For

For

6 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

Against

20.2 Elect Supervisory Board Member 21 Close Meeting POYA International Co., Ltd.

13/06/2017 Taiwan

Annual

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 5.1 Elect Chen Jianzao, Representative of DUO QING Investment Co. Ltd. with Shareholder No. 3 as Non-Independent Director

Premier Oil plc

15/06/2017 United Kingdom

Special

1 Approve Matters Relating to the Refinancing of the Group

For

For

President Chain Store Corp.

13/06/2017 Taiwan

Annual

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Amendments to Rules and Procedures Regarding Shareholder's General Meeting

For

For

6 Approve Release of Restrictions of Competitive Activities of Appointed Directors and Representatives

For

For

1 Accept Directors' Report

For

For

2 Accept Financial Statements

For

For

3 Approve Dividends

For

For

PT Gudang Garam Tbk

270

17/06/2017 Indonesia

Annual

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name PT Indofood CBP Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk

PT Kalbe Farma Tbk

PT Media Nusantara Citra Tbk

PT Mustika Ratu Tbk

Meeting Date Country 02/06/2017 Indonesia

02/06/2017 Indonesia

05/06/2017 Indonesia

22/06/2017 Indonesia

14/06/2017 Indonesia

Meeting Type Annual

Annual

Annual

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Auditors

For

For

1 Accept Directors' Annual Report

For

For

2 Accept Financial Statements

For

For

3 Approve Allocation of Income

For

For

4 Approve Remuneration of Directors and Commissioners

For

For

5 Approve Auditors and Authorize Board to Fix Their Remuneration

For

For

1 Accept Directors' Annual Report

For

For

2 Accept Financial Statements

For

For

3 Approve Allocation of Income

For

For

4 Approve Remuneration of Directors and Commissioners

For

For

5 Approve Auditors and Authorize Board to Fix Their Remuneration

For

For

1 Approve Financial Statements, Statutory Reports, and Discharge of Directors and Commissioners

For

For

2 Approve Allocation of Income

For

For

3 Elect Sie Djohan Director

For

For

4 Approve Remuneration of Directors and Commissioners

For

For

5 Approve Auditors and Authorize Board to Fix Their Remuneration

For

For

1 Accept Directors' Report

For

For

2 Accept Financial Statements and Discharge Directors

For

For

3 Approve Allocation of Income

For

For

4 Elect Directors and Commissioners

For

Against

5 Appoint Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Authorize Directors to Execute the Management and Employee Stock Option Program (MESOP)

For

Against

1 Accept Commissioners' Report

For

For

2 Accept Directors' Report

For

For

3 Approve Financial Statements, Statutory Reports, and Discharge of Directors and Commissioners

For

For

4 Approve Auditors and Authorize Board to Fix Their Remuneration

For

For

1 Approve Resignation of Lo Suwandi Chandra as Director

For

For

1 Accept Financial Statements and Statutory Reports

For

For

Form of resolution limits director accountability Concerns about linkage between pay and performance

ANNUAL GENERAL MEETING AGENDA

EXTRAORDINARY GENERAL MEETING AGENDA PT Pakuwon Jati Tbk

271

02/06/2017 Indonesia

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

PT Sepatu Bata tbk

PT Ultrajaya Milk Industry & Trading Company Tbk.

Meeting Date Country

15/06/2017 Indonesia

22/06/2017 Indonesia

Meeting Type

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Allocation of Income

For

For

3 Approve Auditors

For

For

4 Approve Change in Company's Office

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Allocation of Income

For

For

3 Approve Auditors

For

For

4 Approve Remuneration of Directors and Commissioners

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Allocation of Income

For

For

3 Approve Auditors

For

For

4 Approve Remuneration of Directors and Commissioners

For

For

For

For

1 Accept Financial Statements, Annual Report and Commissioners' Report

For

For

2 Approve Allocation of Income

For

For

3 Approve Siddharta Widjaja & Rekan as Auditors and Authorize Board to Fix Their Remuneration

For

For

4 Elect Directors and Commissioners and Approve Their Remuneration

For

For

1 Approve Loan Agreement from Unilever Finance International AG, Switzerland

For

For

2 Approve Definite Contribution Pension Fund

ANNUAL GENERAL MEETING AGENDA

EXTRAORDINARY GENERAL MEETING AGENDA 1 Approve Stock Split PT Unilever Indonesia Tbk

20/06/2017 Indonesia

Annual/ Special

ANNUAL GENERAL MEETING AGENDA

EXTRAORDINARY GENERAL MEETING AGENDA

PVH Corp.

272

15/06/2017 USA

Annual

For

For

1a Elect Director Mary Baglivo

For

For

1b Elect Director Brent Callinicos

For

For

1c Elect Director Emanuel Chirico

For

For

1d Elect Director Juan R. Figuereo

For

For

1e Elect Director Joseph B. Fuller

For

Against

1f Elect Director V. James Marino

For

For

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Qiagen NV

Meeting Date Country

21/06/2017 Netherlands

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1g Elect Director G. Penny McIntyre

For

For

1h Elect Director Amy McPherson

For

For

1i Elect Director Henry Nasella

For

For

1j Elect Director Edward R. Rosenfeld

For

For

1k Elect Director Craig Rydin

For

For

1l Elect Director Amanda Sourry

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Ernst & Young LLP as Auditors

For

For

For

For

6 Approve Discharge of Management Board

For

For

7 Approve Discharge of Supervisory Board

For

For

Concerns about linkage between pay and performance

Annual Meeting Agenda 1 Open Meeting 2 Receive Report of Management Board (Non-Voting) 3.a Receive Report of Supervisory Board (Non-Voting) 3.b Discuss Remuneration Report Containing Remuneration Policy for Management Board Members 4 Adopt Financial Statements and Statutory Reports 5 Receive Explanation on Company's Reserves and Dividend Policy

8.a Reelect Stephane Bancel to Supervisory Board

For

For

8.b Elect Hakan Bjorklund to Supervisory Board

For

For

8.c Reelect Metin Colpan to Supervisory Board

For

For

8.d Reelect Manfred Karobath to Supervisory Board

For

For

8.e Reelect Ross Levine to Supervisory Board

For

For

8.f Reelect Elaine Mardis to Supervisory Board

For

For

8.g Reelect Lawrence Rosen to Supervisory Board

For

For

8.h Reelect Elizabeth Tallett to Supervisory Board

For

For

9.a Reelect Peer Schatz to Management Board

For

For

9.b Reelect Roland Sackers to Management Board

For

For

10 Ratify KPMG as Auditors

For

For

For

Against

Concerns to protect shareholder interests

11.b Authorize Board to Exclude Preemptive Rights from Share Issuances For

Against

Concerns to protect shareholder interests

11.a Grant Board Authority to Issue Shares 12 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

273

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

13 Allow Questions 14 Close Meeting Qingdao Haier Co., Ltd.

Qiwi plc

28/06/2017 China

02/06/2017 Cyprus

Annual

Annual

1 Approve Financial Statements

For

For

2 Approve Annual Report and Summary

For

For

3 Approve Report of the Board of Directors

For

For

4 Approve Internal Control Self-Evaluation Report

For

For

5 Approve Profit Distribution

For

For

6 Approve Appointment of Auditor

For

For

7 Approve 2017 Daily Related Party Transactions

For

For

8 Approve 2017 Provision of Guarantee to Subsidiary

For

For

9 Approve Formulation of Foreign Exchange Fund Derivatives Business

For

For

10 Approve Amendments to Articles of Association

For

For

11 Amend Management System of Providing External Guarantees

For

For

12 Amend Investment Management System

For

For

13 Amend Working System for Independent Directors

For

For

14 Approve Formulation of Management System for Foreign Exchange Derivative Transactions

For

For

15 Approve Report of the Board of Supervisors

For

For

A.1 Accept Consolidated Financial Statements and Statutory Reports

For

For

A.2 Accept Financial Statements and Statutory Reports

For

For

B.1 Ratify Auditors

For

For

B.2 Approve Remuneration of External Auditors

For

For

C.1.A Elect Rohinton Minoo Kalifa as Director

None

For

Votes to favour preferred candidate

C.1.B Elect Marcus James Rhodes as Director

None

For

Votes to favour preferred candidate

C.1.C Elect Osama Bedier as Director

None

For

Votes to favour preferred candidate

C.2.A Elect Boris Kim as Director

None

Against

Votes to favour preferred candidate Votes to favour preferred candidate

Meeting for ADR Holders

Elect Directors by Cumulative Voting

274

C.2.B Elect Sergey Solonin as Director

None

Against

C.2.C Elect Elena Budnik as Director

None

Against

Votes to favour preferred candidate

C.2.D Elect Evgeny Dankevich as Director

None

Against

Votes to favour preferred candidate

D.1 Approve Remuneration of Non-Executive Directors

For

For

D.2 Approve Remuneration of Executive Directors

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Quanta Computer Inc.

Radiant Opto-Electronics Corp.

Raiffeisen Bank International AG

Meeting Date Country 16/06/2017 Taiwan

14/06/2017 Taiwan

22/06/2017 Austria

Meeting Type Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

E Amend Company Bylaws

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Other Business

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

2 Approve Discharge of Management Board

For

For

3 Approve Discharge of Supervisory Board

For

For

4 Approve Remuneration of Supervisory Board Members

For

For

1 Receive Financial Statements and Statutory Reports (Non-Voting)

5 Ratify KPMG Austria GmbH as Auditors

Ranger Direct Lending Fund Plc

275

15/06/2017 United Kingdom

Annual

Substance of resolution unclear at time of voting

For

For

6.1 Elect Peter Gauper as Supervisory Board Member

For

Against

Concerns about overall board structure

6.2 Elect Wilfried Hopfner as Supervisory Board Member

For

Against

Concerns about overall board structure

6.3 Elect Rudolf Koenighofer as Supervisory Board Member

For

Against

Concerns about overall board structure

6.4 Elect Johannes Ortner as Supervisory Board Member

For

Against

Concerns about overall board structure

6.5 Elect Birgit Noggler as Supervisory Board Member

For

For

6.6 Elect Eva Eberhartinger as Supervisory Board Member

For

For

6.7 Elect Heinrich Schaller as Supervisory Board Member

For

Against

Concerns about overall board structure

6.8 Elect Guenther Reibersdorfer as Supervisory Board Member

For

Against

Concerns about overall board structure

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Dividend Policy

For

For

4 Re-elect K Scott Canon as Director

For

For

5 Re-elect Christopher Waldron as Director

For

For

6 Re-elect Jonathan Schneider as Director

For

For

7 Re-elect Matthew Mulford as Director

For

For

8 Reappoint Deloitte LLP as Auditors

For

For

9 Authorise Board to Fix Remuneration of Auditors

For

For

10 Authorise Issue of Equity with Pre-emptive Rights

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

12 Authorise Market Purchase of Ordinary Shares

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Realtek Semiconductor Corp.

Recruit Holdings Co., Ltd.

Regeneron Pharmaceuticals, Inc.

Renault

276

Meeting Date Country

08/06/2017 Taiwan

20/06/2017 Japan

09/06/2017 USA

15/06/2017 France

Meeting Type

Annual

Annual

Annual

Annual/ Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

13 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Amend Articles of Association

For

For

5 Amend Rules and Procedures for Election of Directors and Supervisors

For

For

6 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

7 Other Business

None

Against

1.1 Elect Director Minegishi, Masumi

For

For

1.2 Elect Director Ikeuchi, Shogo

For

For

1.3 Elect Director Sagawa, Keiichi

For

For

1.4 Elect Director Oyagi, Shigeo

For

For

1.5 Elect Director Shingai, Yasushi

For

For

2 Appoint Alternate Statutory Auditor Shinkawa, Asa

For

For

3 Approve Compensation Ceiling for Statutory Auditors

For

For

For

For

1.1 Elect Director Bonnie L. Bassler 1.2 Elect Director N. Anthony Coles

For

For

1.3 Elect Director Joseph L. Goldstein

For

Against

1.4 Elect Director Christine A. Poon

For

For

1.5 Elect Director P. Roy Vagelos

For

For

1.6 Elect Director Huda Y. Zoghbi

Substance of resolution unclear at time of voting

Concerns about overall board structure

For

For

2 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

3 Amend Omnibus Stock Plan

For

Against

Concerns about linkage between pay and performance

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

5 Advisory Vote on Say on Pay Frequency

Three Years One Year

Annual votes enhance accountability

Ordinary Business 1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 3.15 per Share

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Auditors' Special Report on Related-Party Transactions Mentioning the Absence of New Transactions and Acknowledge Ongoing Transactions

For

For

5 Acknowledge Auditor's Special Reports Re: Remuneration of Redeemable Shares

For

For

6 Non-Binding Vote on Compensation of Carlos Ghosn, Chairman and CEO

For

For

7 Approve Remuneration Policy of Chairman and CEO for Fiscal Year 2017

For

For

8 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

9 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

Extraordinary Business

Resona Holdings, Inc.

23/06/2017 Japan

Annual

10 Amend Article 11 of Bylaws Re: Composition of the Board

For

For

11 Ratify Appointment of Yasuhiro Yamauchi as Director

For

For

12 Ratify Appointment and Reelect Yu Serizawa as Director

For

Against

Concerns about director accountability

13 Elect Pascal Faure as Director

For

Against

Concerns about director accountability

14 Elect Miriem Bensalah Chaqroun as Director

For

For

15 Elect Marie-Annick Darmaillac as Director

For

For

16 Elect Catherine Barba as Director

For

For

17 Elect Benoit Ostertag as Representative of Employee Shareholders to the Board

None

For

Votes to favour preferred candidate

18 Elect Julien Thollot as Representative of Employee Shareholders to the Board

None

Against

Votes to favour preferred candidate

19 Authorize Filing of Required Documents/Other Formalities

For

For

1 Amend Articles to Remove Provisions on Non-Common Shares 2.1 Elect Director Higashi, Kazuhiro

277

For

For

For

For

2.2 Elect Director Kan, Tetsuya

For

For

2.3 Elect Director Hara, Toshiki

For

For

2.4 Elect Director Isono, Kaoru

For

For

2.5 Elect Director Arima, Toshio

For

For

2.6 Elect Director Sanuki, Yoko

For

For

2.7 Elect Director Urano, Mitsudo

For

For

2.8 Elect Director Matsui, Tadamitsu

For

For

2.9 Elect Director Sato, Hidehiko

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3 Amend Articles to Hand over Petition Calling for Refraining of Strongly Pursuing Negative Interest Rate Policy to Governor of the Bank of Japan

Against

Against

4 Amend Articles to Require Individual Compensation Disclosure for Directors

Against

For

Proposal enhances transparency Proposal enhances board structure

2.10 Elect Director Baba, Chiharu

278

5 Amend Articles to Separate Chairman of the Board and CEO

Against

For

6 Amend Articles to Create System that Enables Employees to be Reinstated after Running for Office in National Elections, Local Assembly Elections, and Elections for the Heads of Local Governments

Against

Against

7 Amend Articles to Require Company to Urge Subsidiaries Owning Shares in Allied Firms to Vote Shares Appropriately

Against

For

8 Amend Articles to Disclose Director Training Policy

Against

Against

9 Amend Articles to Add Provisions on Communications and Responses between Shareholders and Directors

Against

Against

10 Amend Articles to Add Provisions Allowing Shareholders to Nominate Director Candidates to Nomination Committee and Its Equal Treatment

Against

Against

11 Amend Articles to Allow Inclusion of Shareholder Proposals in Convocation Notice with the Upper Limit of 100 at Minimum

Against

Against

12 Amend Articles to Establish Liaison for Reporting Concerns to Audit Committee

Against

Against

13 Amend Articles to Mandate Holding of Meetings Consisting Solely of Outside Directors

Against

Against

14 Amend Articles to Add Provisions on Recruitment and Offer of Senior Positions to Women Who Interrupted Their Careers for Childbirth

Against

Against

15 Amend Articles to Prohibit Discriminatory Treatment of Activist Investors

Against

Against

16 Amend Articles to Establish Special Committee on Expressing the Company's Opinion on Recent Actions by Justice Minister Katsutoshi Kaneda

Against

Against

17 Amend Articles to Establish Special Investigation Committee on Loans to K.K. Kenko

Against

Against

18 Remove Director Mitsudo Urano from Office

Against

Against

19 Amend Articles to Establish Special Investigation Committee on Director Mitsudo Urano

Against

Against

Proposal encourages enhanced stewardship

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 20 Appoint Shareholder Director Nominee Lucian Bebchuk in place of Mitsudo Urano

Resorttrust Inc.

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 23

For

For

For

For For

2.3 Elect Director Kawasaki, Nobuhiko

For

For

2.4 Elect Director Fushimi, Ariyoshi

For

For

2.5 Elect Director Ito, Masaaki

For

For

2.6 Elect Director Shintani, Atsuyuki

For

For

2.7 Elect Director Uchiyama, Toshihiko

For

For

2.8 Elect Director Iuchi, Katsuyuki

For

For

For

For

For

For

2.11 Elect Director Ogino, Shigetoshi

For

For

2.12 Elect Director Furukawa, Tetsuya

For

For

For

For

3.1 Elect Director and Audit Committee Member Taniguchi, Yoshitaka

For

For

3.2 Elect Director and Audit Committee Member Aiba, Yoichi

For

For

3.3 Elect Director and Audit Committee Member Akahori, Satoshi

For

For

3.4 Elect Director and Audit Committee Member Nakatani, Toshihisa

For

For

3.5 Elect Director and Audit Committee Member Okada, Yoshitaka

For

For

4 Approve Retirement Bonus for Director Who Is Not an Audit Committee Member

For

For

5 Approve Stock Option Plan

For

For

3.3 Elect Director and Audit Committee Member Akahori, Satoshi

For

For

3.4 Elect Director and Audit Committee Member Nakatani, Toshihisa

For

For

For

For

For

For

4 Approve Retirement Bonus for Director Who Is Not an Audit Committee Member

279

Against

For

2.13 Elect Director Nonaka, Tomoyo

Annual/ Special

Against

2.1 Elect Director Ito, Yoshiro

2.9 Elect Director Takagi, Naoshi

05/06/2017 Canada

Vote Instruction Voter Rationale

2.2 Elect Director Ito, Katsuyasu

2.10 Elect Director Kawaguchi, Masahiro

Restaurant Brands International Inc.

Mgmt Rec

1.1 Elect Director Alexandre Behring 1.2 Elect Director Marc Caira

For

For

1.3 Elect Director Martin E. Franklin

For

For

1.4 Elect Director Paul J. Fribourg

For

For

1.5 Elect Director Neil Golden

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.6 Elect Director Ali Hedayat

Rinnai Corp.

28/06/2017 Japan

Annual

Annual

For

For

1.7 Elect Director Thomas V. Milroy

For

For

For

For

1.9 Elect Director Carlos Alberto Sicupira

16/06/2017 Japan

Vote Instruction Voter Rationale

1.8 Elect Director Daniel S. Schwartz 1.10 Elect Director Cecilia Sicupira

Ricoh Co. Ltd.

Mgmt Rec

For

For

For

For

1.11 Elect Director Roberto Moses Thompson Motta

For

For

1.12 Elect Director Alexandre Van Damme

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Approve KPMG LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

4 Adopt Policy and Report on Board Diversity

None

For

For

For

2.1 Appoint Statutory Auditor Osawa, Hiroshi

1 Approve Allocation of Income, With a Final Dividend of JPY 12.5

For

For

2.2 Appoint Statutory Auditor Ota, Yo

For

For

3 Approve Annual Bonus

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 44

For

For

For

For

2.1 Elect Director Hayashi, Kenji 2.2 Elect Director Naito, Hiroyasu

For

For

2.3 Elect Director Narita, Tsunenori

For

For

2.4 Elect Director Kosugi, Masao

For

For

2.5 Elect Director Kondo, Yuji

For

For

2.6 Elect Director Matsui, Nobuyuki

For

For

2.7 Elect Director Kamio, Takashi

For

For

3 Appoint Alternate Statutory Auditor Ishikawa, Yoshiro

For

For

Rio Tinto Ltd.

29/06/2017 Australia

Special

1 Approve the Proposed Disposal of Coal & Allied Industries Limited

For

For

Rio Tinto plc

27/06/2017 United Kingdom

Special

1 Approve Disposal of Coal & Allied Industries Limited to Yancoal Australia Limited

For

For

Riocan Real Estate Investment Trust

08/06/2017 Canada

Annual

1.1 Elect Trustee Bonnie Brooks

For

For

280

Concerns about linkage between pay and performance

Proposal enhances board structure and accountability

Concerns about performance

1.2 Elect Trustee Clare R. Copeland

For

Withhold

Concerns about overall board structure

1.3 Elect Trustee Paul Godfrey

For

Withhold

Concerns about overall board structure

1.4 Elect Trustee Dale H. Lastman

For

For

1.5 Elect Trustee Jane Marshall

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.6 Elect Trustee Sharon Sallows

Rohm Co. Ltd.

29/06/2017 Japan

Annual

Rosneft Oil Company OJSC

08/06/2017 USA

22/06/2017 Russia

Annual

Annual

For

Withhold

1.7 Elect Trustee Edward Sonshine

For

For

For

For

1.9 Elect Trustee Charles M. Winograd

For

For

2 Approve Ernst & Young LLP as Auditors and Authorize Trustees to Fix Their Remuneration

For

For

3 Advisory Vote on Executive Compensation Approach

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 80

For

For

For

Against

2.2 Elect Director Azuma, Katsumi

For

For

2.3 Elect Director Fujiwara, Tadanobu

For

For

2.4 Elect Director Matsumoto, Isao

For

For

2.5 Elect Director Yamazaki, Masahiko

For

For

2.6 Elect Director Sakai, Masaki

For

For

2.7 Elect Director Sato, Kenichiro

For

For

2.8 Elect Director Kawamoto, Hachiro

For

For

2.9 Elect Director Nishioka, Koichi

For

For

2.10 Elect Director Suenaga, Yoshiaki

For

For

1.1 Elect Director Amy Woods Brinkley

For

For

1.2 Elect Director John F. Fort, III

For

Withhold

1.3 Elect Director Brian D. Jellison

For

For

1.4 Elect Director Robert D. Johnson

For

For

1.5 Elect Director Robert E. Knowling, Jr.

For

For

1.6 Elect Director Wilbur J. Prezzano

For

Withhold

1.7 Elect Director Laura G. Thatcher

For

For

1.8 Elect Director Richard F. Wallman

For

For

1.9 Elect Director Christopher Wright

For

Withhold

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

For

For

Concerns about overall board structure

Concerns about linkage between pay and performance Holding executives accountable for ongoing poor returns

Concerns about overall board structure

Concerns about overall board structure

Concerns about overall board structure

Meeting for GDR Holders 1 Approve Annual Report

281

Vote Instruction Voter Rationale

1.8 Elect Trustee Siim A. Vanaselja

2.1 Elect Director Sawamura, Satoshi

Roper Technologies, Inc.

Mgmt Rec

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Financial Statements

For

For

3 Approve Allocation of Income

For

For

4 Approve Dividends of RUB 5.98 per Share

For

For

5 Approve Remuneration of Directors

For

Against

6 Approve Remuneration of Members of Audit Commission

For

For

For

For

Concerns about linkage between pay and performance

7 Elect Nine Directors by Cumulative Voting Elect Five Members of Audit Committee 8.1 Elect Olga Andrianova as Member of Audit Commission 8.2 Elect Aleksandr Bogashov as Member of Audit Commission

For

For

8.3 Elect Sergey Poma as Member of Audit Commission

For

For

8.4 Elect Zakhar Sabantsev as Member of Audit Commission

For

For

8.5 Elect Pavel Shumov as Member of Audit Commission

For

For

For

For

10.1 Approve Related-Party Transactions with AO VBRR Bank Re: Deposit Agreements

9 Ratify Ernst&Young as Auditor

For

For

10.2 Approve Related-Party Transactions with Bank GPB Re: Deposit Agreements

For

For

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

10.3 Approve Related-Party Transactions with AO VBRR Bank Re: Loan Agreements 10.4 Approve Related-Party Transactions with Bank GPB Re: Loan Agreements 10.5 Approve Related-Party Transaction with Sogaz Re: Liability Insurance for Directors, Executives, and Employees 11 Amend Charter Rosseti PJSC

30/06/2017 Russia

Annual

Meeting for Common and Preferred Shareholders

3 Approve Allocation of Income

282

For

For

4.1 Approve Dividends for Preferred Shares

For

For

4.2 Approve Dividends for Ordinary Shares

For

For

5 Approve Remuneration of Directors

For

Against

Concerns about linkage between pay and performance

6 Approve Remuneration of Members of Audit Commission

For

Against

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.1 Elect Stanislav Ashirov as Director

None

Against

Votes to favour our preferred candidates

7.2 Elect Boris Ayuyev as Director

None

Against

Votes to favour our preferred candidates

7.3 Elect Oleg Barkin as Director

None

Against

Votes to favour our preferred candidates

7.4 Elect Vasily Belov as Director

None

For

Votes to favour our preferred candidates

7.5 Elect Oleg Dubnov as Director

None

For

Votes to favour our preferred candidates

7.6 Elect Aleksandr Kalinin as Director

None

For

Votes to favour our preferred candidates

7.7 Elect Vyacheslav Kravchenko as Director

None

Against

Votes to favour our preferred candidates

7.8 Elect Andrey Murov as Director

None

Against

Votes to favour our preferred candidates

Elect 15 Directors by Cumulative Voting

7.9 Elect Aleksander Novak as Director

None

Against

Votes to favour our preferred candidates

7.10 Elect Nikolay Podguzov as Director

None

Against

Votes to favour our preferred candidates

7.11 Elect Mikhail Poluboyarinov as Director

None

Against

Votes to favour our preferred candidates

7.12 Elect Nikolay Rogalev as Director

None

Against

Votes to favour our preferred candidates

7.13 Elect Anatoly Tikhonov as Director

None

Against

Votes to favour our preferred candidates

7.14 Elect Sergey Shmatko as Director

None

Against

Votes to favour our preferred candidates

7.15 Elect Nikolay Shulginov as Director

None

Against

Votes to favour our preferred candidates

Elect Five Members of Audit Commission 8.1 Elect Tatyana Zobkova as Member of Audit Commission

For

For

8.2 Elect Ilya Karpov as Member of Audit Commission

For

For

8.3 Elect Dmitry Filipenko as Member of Audit Commission

For

For

8.4 Elect Nina Khakimova as Member of Audit Commission

For

For

8.5 Elect Aleksandra Charondina as Member of Audit Commission

For

For

For

For

10 Approve New Edition of Charter

For

For

11 Approve New Edition of Regulations on General Meetings

For

For

12 Approve New Edition of Regulations on Board of Directors

For

For

13 Approve Company's Membership in GEIDCO

For

For

14 Approve Company's Membership in Russian Union of Industrialists and Entrepreneurs

For

For

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Articles of Association

For

For

4 Approve the Issuance of New Shares by Capitalization of Profit

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

9 Ratify Auditor

Ruentex Development Co., Ltd.

283

15/06/2017 Taiwan

Annual

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6.1 Elect Jean Tsang Jiunn, Representative of Ying Jia Investment Co., Ltd with Shareholder No. 246931 as Non-Independent Director

For

For

6.2 Elect Wong Yee Fan, Representative of Ruentex Industries Ltd with Shareholder No. 270 as Non-Independent Director

For

For

6.3 Elect Yin Chung Yao, Representative of Ruentex Industries Ltd with Shareholder No. 270 as Non-Independent Director

For

For

6.4 Elect Lee Chih Hung, Representative of Ruen Tai Shing Co., Ltd with Shareholder No. 83879 as Non-Independent Director

For

For

6.5 Elect Chen Li Yu, Representative of Ruen Tai Shing Co., Ltd with Shareholder No. 83879 as Non-Independent Director

For

For

6.6 Elect Lin Chien Yu with Shareholder No. 119443 as NonIndependent Director

For

For

6.7 Elect Ke Shueng Shiung with ID No. Q120322XXX as Independent Director

For

For

6.8 Elect Jau Yi Lung with ID No. F104108XXX as Independent Director For

For

6.9 Elect Chang Kuo Chun with ID No. B100126XXX as Independent Director

For

For

7 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

Against

Concerns to protect shareholder interests

8 Other Business

None

Against

Substance of resolution unclear at time of voting

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income

For

For

4 Approve Dividends

For

For

5 Approve Remuneration of Directors

For

For

6 Approve Remuneration of Members of Audit Commission

For

For

7.1 Elect Artem Avestisyan as Director

None

Against

Votes to favour our preferred candidates

7.2 Elect Nikolay Shulginov as Director

None

Against

Votes to favour our preferred candidates

7.3 Elect Maksim Bystrov as Director

None

Against

Votes to favour our preferred candidates

7.4 Elect Vyacheslav Kravchenko as Director

None

Against

Votes to favour our preferred candidates

7.5 Elect Pavel Grachev as Director

None

For

Votes to favour our preferred candidates

7.6 Elect Yury Trutnev as Director

None

Against

Votes to favour our preferred candidates

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

RusHydro PJSC

26/06/2017 Russia

Annual

Meeting for ADR/GDR Holders

Elect 13 Directors by Cumulative Voting

284

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7.7 Elect Sergey Ivanov as Director

None

Against

Votes to favour our preferred candidates

7.8 Elect Vyacheslav Pivovarov as Director

None

For

Votes to favour our preferred candidates

7.9 Elect Nikolay Podguzov as Director

None

Against

Votes to favour our preferred candidates

7.10 Elect Aleksey Chekunkov as Director

None

Against

Votes to favour our preferred candidates

7.11 Elect Sergey Shishin as Director

None

Against

Votes to favour our preferred candidates

7.12 Elect Nikolay Rogalev as Director

None

Against

Votes to favour our preferred candidates

7.13 Elect Andrey Shishkin as Director

None

Against

Votes to favour our preferred candidates

Elect Five Members of Audit Commission 8.1 Elect Natalia Annikova as Member of Audit Commission

For

For

8.2 Elect Tatyana Zobkova as Member of Audit Commission

For

For

8.3 Elect Igor Repin as Member of Audit Commission

For

For

8.4 Elect Marina Kostina as Member of Audit Commission

For

For

8.5 Elect Dmitry Simochkin as Member of Audit Commission

For

For

9 Ratify Auditor

Safran

285

15/06/2017 France

Annual/ Special

For

For

10 Approve New Edition of Charter

For

For

11 Approve New Edition of Regulations on General Meetings

For

For

12 Approve New Edition of Regulations on Board Meetings

For

For

13 Approve New Edition of Regulations on Management Board

For

For

14 Approve New Edition of Regulations on Remuneration of Directors

For

For

15 Approve New Edition of Regulations Remuneration of Members of Audit Commission

For

For

16 Approve Termination of Company's Membership in NP KONTs UES

For

For

17 Approve Related-Party Transaction Re: Loan Agreement with RAO ES East

For

For

1 Approve Financial Statements and Statutory Reports

For

For

2 Approve Consolidated Financial Statements and Statutory Reports

For

For

3 Approve Allocation of Income and Dividends of EUR 1.52 per Share

For

For

Ordinary Business

4 Approve Additional Pension Scheme Agreement with Ross McInnes, For Chairman of the Board

Against

Concerns about linkage between pay and performance

5 Approve Additional Pension Scheme Agreement with Philippe Petitcolin, CEO

For

Against

Concerns about linkage between pay and performance

6 Approve Auditors' Special Report on Related-Party Transactions

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Reelect Odile Desforges as Director

For

Against

8 Elect Helene Auriol Potier as Director

For

For

9 Elect Patrick Pelata as Director

For

For

10 Elect Sophie Zurquiyah as Director

For

For

11 Non-Binding Vote on Compensation of Ross McInnes, Chairman of the Board

For

For

12 Non-Binding Vote on Compensation of Philippe Petitcolin, CEO

For

For

13 Approve Remuneration Policy of Chairman of the Board

For

For

14 Approve Remuneration Policy of CEO

For

For

15 Authorize Repurchase of Up to 10 Percent of Issued Share Capital

For

For

16 Amend Article 25 of Bylaws Re: Age Limit of CEO and Vice-CEO

For

For

17 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 20 Million

For

Against

18 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 8 Million

For

For

19 Authorize Capital Increase of Up to EUR 8 Million for Future Exchange Offers

For

For

20 Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to Aggregate Nominal Amount of EUR 8 Million

For

For

21 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Under Items 17 to 20

For

For

22 Authorize Capitalization of Reserves of Up to EUR 12.5 Million for Bonus Issue or Increase in Par Value

For

For

23 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 8 Million, Including in the Event of a Public Tender Offer or Share Exchange Offer

For

Against

Proposal risks entrenching management

24 Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 8 Million, Including in the Event of a Public Tender Offer or Share Exchange Offer

For

Against

Proposal risks entrenching management

Concerns about director accountability

Extraordinary Business

286

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

Proposal risks entrenching management

26 Approve Issuance of Equity or Equity-Linked Securities for up to For 20 Percent of Issued Capital Per Year for Private Placements, up to Aggregate Nominal Amount of EUR 8 Million, Including in the Event of a Public Tender Offer or Share Exchange Offer

Against

Proposal risks entrenching management

27 Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Under Items 23 to 26, Including in the Event of a Public Tender Offer or Share Exchange Offer

For

Against

Proposal risks entrenching management

28 Authorize Capitalization of Reserves of Up to EUR 8 Million for Bonus Issue or Increase in Par Value, Including in the Event of a Public Tender Offer or Share Exchange Offer

For

Against

Proposal risks entrenching management

29 Authorize Capital Issuances for Use in Employee Stock Purchase Plans

For

For

30 Authorize Decrease in Share Capital via Cancellation of Repurchased For Shares

For

31 Authorize up to 0.4 Percent of Issued Capital for Use in Restricted Stock Plans

For

For

32 Authorize New Class of Preferred Stock (Actions de Preference A) and Amend Bylaws Accordingly

For

For

33 Authorize Issuance of Preferred Stock Up to EUR 8 Million for Future For Exchange Offers

For

34 Authorize Filing of Required Documents/Other Formalities

For

For

A Authorize Up to 0.6 percent of Issued Capital for Use in Restricted Stock Plans Reserved for All Employees

Against

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Final Dividend

For

For

4 Re-elect Andrew Goodsell as Director

For

For

5 Re-elect Lance Batchelor as Director

For

For

6 Re-elect Jonathan Hill as Director

For

For

7 Re-elect Ray King as Director

For

For

8 Re-elect Bridget McIntyre as Director

For

For

9 Re-elect Orna NiChionna as Director

For

For

25 Authorize Capital Increase of Up to EUR 8 Million for Future Exchange Offers, Including in the Event of a Public Tender Offer or Share Exchange Offer

Shareholder Proposals Submitted by FCPE Safran Investissement

Saga plc

287

22/06/2017 United Kingdom

Annual

Proposal encourages enhanced employee relations

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

salesforce.com, inc.

Samsonite International S.A.

Meeting Date Country

06/06/2017 USA

01/06/2017 Luxembourg

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

10 Re-elect Gareth Williams as Director

For

For

11 Appoint KPMG LLP as Auditors

For

For

12 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

13 Authorise EU Political Donations and Expenditure

For

For

14 Authorise Issue of Equity with Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1a Elect Director Marc Benioff

For

For

1b Elect Director Keith Block

For

For

1c Elect Director Craig Conway

For

For

1d Elect Director Alan Hassenfeld

For

For

1e Elect Director Neelie Kroes

For

For

1f Elect Director Colin Powell

For

For

1g Elect Director Sanford Robertson

For

For

1h Elect Director John V. Roos

For

For

1i Elect Director Robin Washington

For

For

1j Elect Director Maynard Webb

For

For

1k Elect Director Susan Wojcicki

For

For

2 Amend Omnibus Stock Plan

For

Against

3 Amend Qualified Employee Stock Purchase Plan

For

For

4 Ratify Ernst & Young LLP as Auditors

For

For

5 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

6 Advisory Vote on Say on Pay Frequency

One Year

One Year

7 Shareholders May Call Special Meeting

Against

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Allocation of Results for the Year 2016

For

For

3 Approve Cash Distribution

For

For

For

For

4a Reelect Kyle Francis Gendreau as Director

288

Concerns about linkage between pay and performance

Concerns about linkage between pay and performance Proposal enhances board accountability

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4b Reelect Tom Korbas as Director

For

For

4c Reelect Ying Yeh as Director

For

For

5 Renew Mandate Granted to KPMG Luxembourg as Statutory Auditor

For

For

6 Approve KPMG LLP as External Auditor

For

For

7 Authorize Issuance Shares Up to 10 Percent of the Total Issued Shares

For

For

8 Authorize Repurchase of Issued Share Capital

For

For

9 Approve Discharge of Directors and Auditors

For

For

10 Approve Remuneration of Directors

For

For

11 Authorize Board to Fix the Remuneration of KPMG Luxembourg

For

For

Sankyo Co. Ltd. (6417)

29/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 75

For

For

Sanlam Ltd

07/06/2017 South Africa

Annual

1 Accept Financial Statements and Statutory Reports for the Year Ended 31 December 2016

For

For

2 Reappoint Ernst & Young Incorporated as Auditors of the Company with Johanna de Villiers as the Individual and Designated Auditor

For

For

3 Elect Paul Hanratty as Director 4.1 Re-elect Manana Bakane-Tuoane as Director

289

For

For

For

For

4.2 Re-elect Valli Moosa as Director

For

For

4.3 Re-elect Sipho Nkosi as Director

For

For

4.4 Re-elect Lazarus Zim as Director

For

For

5.1 Re-elect Yegs Ramiah as Director

For

For

5.2 Elect Heinie Werth as Director

For

For

6.1 Elect Anton Botha as Member of the Audit Committee

For

For

6.2 Elect Paul Hanratty as Member of the Audit Committee

For

For

6.3 Re-elect Karabo Nondumo as Member of the Audit Committee

For

For

6.4 Re-elect Flip Rademeyer as Chairman of the Audit Committee

For

For

7 Approve Remuneration Policy

For

For

8 Approve Remuneration of Executive Directors and Non-executive Directors for the Financial Year Ended 31 December 2016

For

For

9 Place Authorised but Unissued Shares under Control of Directors

For

For

10 Authorise Board to Issue Shares for Cash

For

For

11 Authorise Ratification of Approved Resolutions

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Santen Pharmaceutical Co. Ltd.

SBI Holdings

Meeting Date Country

23/06/2017 Japan

29/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

A Approve Remuneration of Non-executive Directors for the Period 1 July 2017 until 30 June 2018

For

For

B Approve Financial Assistance in Terms of Section 44 of the Companies Act

For

For

C Approve Financial Assistance in Terms of Section 45 of the Companies Act

For

For

D Authorise Repurchase of Issued Share Capital

For

For

For

For

2.1 Elect Director Kurokawa, Akira

1 Approve Allocation of Income, with a Final Dividend of JPY 13

For

For

2.2 Elect Director Ito, Takeshi

For

For

2.3 Elect Director Tsujimura, Akihiro

For

For

2.4 Elect Director Taniuchi, Shigeo

For

For

2.5 Elect Director Katayama, Takayuki

For

For

2.6 Elect Director Oishi, Kanoko

For

For

2.7 Elect Director Shintaku, Yutaro

For

For

1.1 Elect Director Kitao, Yoshitaka

For

For

1.2 Elect Director Kawashima, Katsuya

For

For

1.3 Elect Director Nakagawa, Takashi

For

For

1.4 Elect Director Asakura, Tomoya

For

For

1.5 Elect Director Morita, Shumpei

For

For

1.6 Elect Director Takamura, Masato

For

For

1.7 Elect Director Nakatsuka, Kazuhiro

For

For

1.8 Elect Director Shigemitsu, Tatsuo

For

For

1.9 Elect Director Yamada, Masayuki 1.10 Elect Director Yoshida, Masaki

Scottish Mortgage Investment Trust PLC 29/06/2017 United Kingdom

290

Annual

For

For

For

For

1.11 Elect Director Sato, Teruhide

For

For

1.12 Elect Director Ayako Hirota Weissman

For

For

1.13 Elect Director Takenaka, Heizo

For

For

1.14 Elect Director Otobe, Tatsuyoshi

For

For

1.15 Elect Director Gomi, Hirofumi

For

For

1.16 Elect Director Asaeda, Yoshitaka

For

For

1.17 Elect Director Suzuki, Yasuhiro

For

For

2 Appoint Statutory Auditor Ichikawa, Toru

For

Against

3 Appoint Alternate Statutory Auditor Wakatsuki, Tetsutaro

For

For

1 Accept Financial Statements and Statutory Reports

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

SCREEN Holdings Co., Ltd.

SCSK Corp.

291

Meeting Date Country

27/06/2017 Japan

23/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Approve Final Dividend

For

For

5 Re-elect Justin Dowley as Director

For

For

6 Re-elect John Kay as Director

For

For

7 Re-elect Patrick Maxwell as Director

For

For

8 Re-elect Fiona McBain as Director

For

For

9 Re-elect Dr Paola Subacchi as Director

For

For

10 Reappoint KPMG LLP as Auditors

For

For

11 Authorise Board to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Issue of Equity without Pre-emptive Rights

For

For

14 Authorise Directors to Allot Ordinary Shares and to Sell Treasury Shares for Cash at a Price Below the Net Asset Value

For

For

15 Authorise Market Purchase of Ordinary Shares

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 87 2.1 Elect Director Kakiuchi, Eiji

For

For

2.2 Elect Director Minamishima, Shin

For

For

2.3 Elect Director Oki, Katsutoshi

For

For

2.4 Elect Director Nadahara, Soichi

For

For

2.5 Elect Director Kondo, Yoichi

For

For

2.6 Elect Director Ando, Kimito

For

For

2.7 Elect Director Tateishi, Yoshio

For

For

2.8 Elect Director Murayama, Shosaku

For

For

2.9 Elect Director Saito, Shigeru

For

For

3 Approve Trust-Type Equity Compensation Plan

For

For

1 Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

For

For

2.1 Elect Director Kanegae, Michihiko

For

For

2.2 Elect Director Tanihara, Toru

For

For

2.3 Elect Director Mikogami, Daisuke

For

For

2.4 Elect Director Fukunaga, Tetsuya

For

For

2.5 Elect Director Endo, Masatoshi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Secom Co. Ltd.

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.6 Elect Director Tamefusa, Koji

For

For

2.7 Elect Director Koike, Hiroyuki

For

For

2.8 Elect Director Tsuyuguchi, Akira

For

For

2.9 Elect Director Matsuda, Kiyoto

For

For

3.1 Elect Director and Audit Committee Member Anzai, Yasunori

For

For

3.2 Elect Director and Audit Committee Member Yabuki, Kimitoshi

For

For

3.3 Elect Director and Audit Committee Member Nakamura, Masaichi

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 75 2.1 Elect Director Iida, Makoto

Sega Sammy Holdings Inc.

23/06/2017 Japan

Annual

For

For

For

2.2 Elect Director Nakayama, Yasuo

For

For

2.3 Elect Director Nakayama, Junzo

For

For

2.4 Elect Director Yoshida, Yasuyuki

For

For

2.5 Elect Director Izumida, Tatsuya

For

For

2.6 Elect Director Ozeki, Ichiro

For

For

2.7 Elect Director Kurihara, Tatsushi

For

For

2.8 Elect Director Fuse, Tatsuro

For

For

2.9 Elect Director Hirose, Takaharu

For

For

2.10 Elect Director Kawano, Hirobumi

For

For

2.11 Elect Director Watanabe, Hajime

For

For

3 Appoint Statutory Auditor Yokomizo, Masao

For

For

4 Approve Equity Compensation Plan

For

For

1.1 Elect Director Satomi, Hajime

For

For

1.2 Elect Director Satomi, Haruki

For

For

1.3 Elect Director Tsurumi, Naoya

For

For

1.4 Elect Director Fukazawa, Koichi

For

For

1.5 Elect Director Okamura, Hideki

For

For

1.6 Elect Director Iwanaga, Yuji

For

For

1.7 Elect Director Natsuno, Takeshi

For

For

1.8 Elect Director Katsukawa, Kohei

For

For

2.1 Appoint Statutory Auditor Aoki, Shigeru

For

For

2.2 Appoint Statutory Auditor Sakaue, Yukito

For

For

2.3 Appoint Statutory Auditor Kazashi, Tomio

For

For

2.4 Appoint Statutory Auditor Enomoto, Mineo 3 Appoint Alternate Statutory Auditor Ogata, Izumi

292

For

For

Against

Concerns about independence

For

Against

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Seibu Holdings Inc.

Meeting Date Country 21/06/2017 Japan

Meeting Type Annual

Proposal Number Proposal Text 1 Approve Allocation of Income, with a Final Dividend of JPY 15.5 2.1 Elect Director Ogawa, Shuichiro

Seiko Epson Corp.

28/06/2017 Japan

Annual

28/06/2017 Japan

Annual

293

Annual

For

For

For

For

For

For

For

2.4 Elect Director Goto, Keiji

For

For

3.1 Appoint Statutory Auditor Yazaki, Michifumi

For

For

3.2 Appoint Statutory Auditor Nagaseki, Isao

For

For

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 30 2.2 Elect Director Inoue, Shigeki

For

For

2.3 Elect Director Kubota, Koichi

For

For

2.4 Elect Director Kawana, Masayuki

For

For

2.5 Elect Director Seki, Tatsuaki

For

For

2.6 Elect Director Omiya, Hideaki

For

For

2.7 Elect Director Matsunaga, Mari

For

For

3 Approve Annual Bonus

For

For

4 Approve Takeover Defense Plan (Poison Pill)

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 19

For

For

2.1 Elect Director Negishi, Naofumi

For

For

2.2 Elect Director Koge, Teiji

For

For

2.3 Elect Director Kubo, Hajime

For

For

2.4 Elect Director Uenoyama, Satoshi

For

For

2.5 Elect Director Sekiguchi, Shunichi

For

For

2.6 Elect Director Kato, Keita

For

For

2.7 Elect Director Hirai, Yoshiyuki

For

For

2.8 Elect Director Taketomo, Hiroyuki

For

For

2.9 Elect Director Ishizuka, Kunio

For

For

For

For

For

For

3 Appoint Statutory Auditor Naganuma, Moritoshi 19/06/2017 Japan

For

2.2 Elect Director Oya, Eiko

2.10 Elect Director Kase, Yutaka Seven Bank Ltd

Vote Instruction Voter Rationale

2.3 Elect Director Ogi, Takehiko

2.1 Elect Director Usui, Minoru

Sekisui Chemical Co. Ltd.

Mgmt Rec

1.1 Elect Director Anzai, Takashi

For

For

1.2 Elect Director Futagoishi, Kensuke

For

For

1.3 Elect Director Funatake, Yasuaki

For

For

1.4 Elect Director Ishiguro, Kazuhiko

For

For

Proposal risks entrenching management

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.5 Elect Director Oizumi, Taku

Annual

For

For

1.6 Elect Director Kawada, Hisanao

For

For

For

For

1.8 Elect Director Ohashi, Yoji

For

For

1.9 Elect Director Miyazaki, Yuko

For

For

For

For

2.1 Appoint Statutory Auditor Matsuo, Kunihiro

For

For

2.2 Appoint Statutory Auditor Shimizu, Akihiko

For

For

For

For

1.1 Elect Aleksey Mordashov as Director

None

Against

Votes to favour our preferred candidates

1.2 Elect Aleksey Kulichenko as Director

None

Against

Votes to favour our preferred candidates

1.3 Elect Vladimir Lukin as Director

None

Against

Votes to favour our preferred candidates

1.4 Elect Andrey Mitykov as Director

None

Against

Votes to favour our preferred candidates

1.5 Elect Aleksandr Shevelev as Director

None

Against

Votes to favour our preferred candidates

1.6 Elect Philip Dayer as Director

None

For

Votes to favour our preferred candidates

1.7 Elect David Bowen as Director

None

For

Votes to favour our preferred candidates

1.8 Elect Veikko Tamminen as Director

None

For

Votes to favour our preferred candidates

1.9 Elect Vladimir Mau as Director

None

For

Votes to favour our preferred candidates

None

For

Votes to favour our preferred candidates

3 Approve Trust-Type Equity Compensation Plan 09/06/2017 Russia

Vote Instruction Voter Rationale

1.7 Elect Director Goto, Katsuhiro

1.10 Elect Director Ohashi, Shuji

Severstal PJSC

Mgmt Rec

Meeting for GDR Holders Elect 10 Directors by Cumulative Voting

1.10 Elect Aleksandr Auzan as Director 2 Approve Annual Report and Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

4 Approve Interim Dividends for First Quarter of Fiscal 2017

For

For

For

For

Elect Three Members of Audit Commission 5.1 Elect Nikolay Lavrov as Member of Audit Commission

Shandong Weigao Group Medical Polymer Co., Ltd.

12/06/2017 China

Special

5.2 Elect Roman Antonov as Member of Audit Commission

For

For

5.3 Elect Svetlana Guseva as Member of Audit Commission

For

For

6 Ratify KPMG as Auditor

For

For

7 Approve Related-Party Transaction with Sberbank Re: Deposit Agreement

For

Against

For

For

CLASS MEETING FOR HOLDERS OF H SHARES 1 Authorize Repurchase of Issued H Share Capital

294

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Shandong Weigao Group Medical Polymer Co., Ltd.

Shanghai Electric Group Co., Ltd.

Meeting Date Country 12/06/2017 China

29/06/2017 China

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve 2016 Audited Consolidated Financial Statements

For

For

2 Approve 2016 Report of the Board of Directors

For

For

3 Approve 2016 Report of the Supervisory Committee

For

For

4 Approve Final Dividend

For

For

5 Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Authorize Board to Fix Remuneration of Directors, Supervisors and Senior Management

For

For

7 Elect Zhang Hua Wei as Director

For

For

8 Elect Wang Yi as Director

For

For

9 Elect Zhou Shu Hua as Director

For

Against

10 Elect Bi Dong Mei as Supervisor

For

For

11 Elect Chen Xiao Yun as Supervisor

For

For

12 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

13 Authorize Repurchase of Issued H Share Capital

For

For

14 Amend Articles of Association

For

For

1 Approve 2016 Annual Report

For

For

2 Approve 2016 Report of the Board

For

For

3 Approve 2016 Report of the Supervisory Committee

For

For

4 Approve 2016 Report of the Financial Results

For

For

5 Approve 2016 Profit Distribution Plan

For

For

6 Approve PwC Zhong Tian as PRC Auditor and PricewaterhouseCoopers as International Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Approve Ratification of Emoluments Paid to Directors and Supervisors for the Year of 2016 and Approve Emoluments of Directors and Supervisors for the Year of 2017

For

For

8 Approve Renewal of Liability Insurance for Directors, Supervisors and Senior Management

For

For

For

For

Concerns about overall board structure

Concerns to protect shareholder interests

AGM BALLOT FOR HOLDERS OF H-SHARES

RESOLUTIONS REGARDING THE APPROVAL OF PROPOSED PROVISION OF EXTERNAL GUARANTEE 9.1 Approve Provision of Corporate Guarantee to Shanghai Electric Wind Power Equipment Co., Ltd.

295

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Shanghai International Airport Co., Ltd.

Shanghai International Port (Group) Co., Ltd.

Meeting Date Country

30/06/2017 China

Meeting Type

Annual

26/06/2017 China

Special

Shanghai Pharmaceuticals Holding Co., 23/06/2017 China Ltd.

Annual

296

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.2 Approve Provision of Corporate Guarantee to SEC-KSB Nuclear Pumps & Valves Co., Ltd.

For

Against

Concerns to protect shareholder interests

9.3 Approve Provision of Corporate Guarantee to Shanghai Electric Heavy Machinery Milling Special Equipment Co., Ltd.

For

Against

Concerns to protect shareholder interests

9.4 Approve Provision of Corporate Guarantee to Shanghai Electric Heavy Machinery Casting Forging Co., Ltd.

For

Against

Concerns to protect shareholder interests

9.5 Approve Provision of Corporate Guarantee by Shanghai Huapu Cable Co., Ltd. and Shanghai Electric Power T&D Group Co., Ltd. to Shanghai Fujikura Cable Co., Ltd.

For

Against

Concerns to protect shareholder interests

9.6 Approve Provision of Corporate Guarantee by Broetje-Automation GmbH to BA Assembly & Turnkey Systems GmbH

For

Against

Concerns to protect shareholder interests

9.7 Approve Provision of Letters of Guarantee by Shanghai Electric Group Finance Co., Ltd. to Shanghai Electric (Group) Corporation and its Subsidiaries.

For

Against

Concerns to protect shareholder interests

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Board of Supervisors

For

For

3 Approve Financial Statements

For

For

4 Approve Profit Distribution

For

For

5 Approve Appointment of Auditor

For

For

6 Approve Appointment of Internal Control Auditor

For

For

7 Approve Amendments to Articles of Association

For

For

8 Amend Rules and Procedures Regarding General Meetings of Shareholders

For

For

1 Approve Guarantee Provision for Overseas Debt Issuance by Overseas Wholly-owned Subsidiary

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Annual Report

For

For

4 Approve 2016 Final Accounts Report

For

For

5 Approve 2017 Financial Budget

For

For

6 Approve 2016 Profit Distribution Plan

For

For

7 Approve Proposal Regarding Payment of Auditor's Fees for 2016

For

For

8 Approve Auditors

For

For

9 Approve Proposal Regarding External Guarantees for 2017

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Shangri-la Asia Ltd.

Sharp Corp.

Meeting Date Country

02/06/2017 Bermuda

20/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Vote Instruction Voter Rationale

10 Approve Amendments to the Commitment Regarding the Shares For Held by Employees and the Employee Share Ownership Committee

For

11 Approve Issuance of Debt Financing Products

For

For

12 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3A Elect Lim Beng Chee as Director

For

For

3B Elect Madhu Rama Chandra Rao as Director

For

For

3C Elect Li Kwok Cheung Arthur as Director

For

For

4 Approve Directors' Fees

For

For

5 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

6A Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6B Authorize Repurchase of Issued Share Capital

For

For

6C Authorize Reissuance of Repurchased Shares

For

Against

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Concerns to protect shareholder interests

Annual Meeting Agenda 1 Amend Articles to Amend Business Lines - Adopt Board Structure with Audit Committee - Update Authorized Capital to Reflect Reverse Stock Split - Authorize Board to Determine Income Allocation

3.1 Elect Director Tai Jeng-Wu

For

Against

3.2 Elect Director Nomura, Katsuaki

For

For

3.3 Elect Director Takayama, Toshiaki

For

For

3.4 Elect Director Young Liu

For

For

3.5 Elect Director Nishiyama, Hirokazu

For

For

Concerns about overall board structure

3.6 Elect Director Chien-Erh Wang

For

For

4.1 Elect Director and Audit Committee Member Hse-Tung Lu

For

Against

Concerns about independence

4.2 Elect Director and Audit Committee Member Kurumatani, Nobuaki

For

Against

Concerns about independence

4.3 Elect Director and Audit Committee Member Himeiwa, Yasuo

For

For

For

For

5 Approve Compensation Ceiling for Directors Who Are Not Audit Committee Members

297

Mgmt Rec

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6 Approve Compensation Ceiling for Directors Who Are Audit Committee Members

For

For

7 Approve Stock Option Plan

For

For

8 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Re-elect Robin Ashton as Director

For

For

4 Re-elect Iain Cornish as Director

For

For

5 Elect Andrew Didham as Director

For

For

6 Re-elect David Gagie as Director

For

For

7 Re-elect Sally-Ann Hibberd as Director

For

For

8 Re-elect Stephen Johnson as Director

For

For

9 Re-elect Paul Lawrence as Director

For

For

10 Re-elect Roger Lovering as Director

For

For

11 Re-elect Lindsey McMurray as Director

For

For

12 Elect Dylan Minto as Director

For

For

13 Re-elect Steve Pateman as Director

For

For

14 Approve Remuneration Report

For

Against

15 Reappoint KPMG LLP as Auditors

For

For

16 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

17 Authorise Issue of Equity with Pre-emptive Rights

For

For

18 Authorise Issue of Equity in Relation to Additional Tier 1 Securities

For

For

19 Authorise Issue of Equity without Pre-emptive Rights

For

For

20 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

21 Authorise Issue of Equity without Pre-emptive Rights in Relation to Additional Tier 1 Securities

For

For

22 Approve Cancellation of the Capital Redemption Reserve

For

For

23 Authorise Market Purchase of Ordinary Shares

For

For

24 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

Class Meeting Agenda for Common Shareholders

Shawbrook Group plc

298

06/06/2017 United Kingdom

Annual

Concerns over the linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Shenzhen Airport Co., Ltd.

Shimadzu Corp.

Meeting Date Country 29/06/2017 China

29/06/2017 Japan

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Board of Supervisors

For

For

3 Approve Financial Statements

For

For

4 Approve Profit Distribution

For

For

5 Approve Annual Report and Summary

For

For

6 Approve Daily Related-party Transactions and Approve 2017 Daily Related-party Transactions

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 10 2.1 Elect Director Nakamoto, Akira

Shimao Property Holdings Ltd.

Shimizu Corp.

299

19/06/2017 Cayman Islands

29/06/2017 Japan

Annual

Annual

For

For

For

For

2.2 Elect Director Ueda, Teruhisa

For

For

2.3 Elect Director Fujino, Hiroshi

For

For

2.4 Elect Director Miura, Yasuo

For

For

2.5 Elect Director Furusawa, Koji

For

For

2.6 Elect Director Sawaguchi, Minoru

For

For

2.7 Elect Director Fujiwara, Taketsugu

For

For

2.8 Elect Director Wada, Hiroko

For

For

3 Appoint Statutory Auditor Fujii, Hiroyuki

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3.1 Elect Hui Sai Tan, Jason as Director

For

For

3.2 Elect Liu Sai Fei as Director

For

For

3.3 Elect Kan Lai Kuen, Alice as Director

For

For

3.4 Authorize Board to Fix Remuneration of Directors

For

For

4 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

6 Authorize Repurchase of Issued Share Capital

For

For

7 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 21

For

For

2.1 Elect Director Miyamoto, Yoichi

For

For

2.2 Elect Director Inoue, Kazuyuki

For

For

2.3 Elect Director Terada, Osamu

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.4 Elect Director Okamoto, Tadashi

16/06/2017 Taiwan

Annual

Vote Instruction Voter Rationale

For

For

2.5 Elect Director Imaki, Toshiyuki

For

For

2.6 Elect Director Higashide, Koichiro

For

For

2.7 Elect Director Yamaji, Toru

For

For

2.8 Elect Director Ikeda, Koji

For

For

2.9 Elect Director Shimizu, Motoaki

Shin Kong Financial Holding Co., Ltd.

Mgmt Rec

For

For

2.10 Elect Director Takeuchi, Yo

For

For

2.11 Elect Director Murakami, Aya

For

For

3.1 Appoint Statutory Auditor Watanabe, Hideto

For

For

3.2 Appoint Statutory Auditor Kaneko, Hatsuhito

For

Against

4 Approve Annual Bonus

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4.1 Elect Wu Tung Chin, Representative of Shin Kong Wu Ho Su Culture For and Education Foundation, with Shareholder No. 38260 as Non-Independent Director

For

Votes to favour our preferred candidates

4.2 Elect Wu Min Wei, Representative of Shin Kong Wu Ho Su Culture and Education Foundation, with Shareholder No. 38260 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.3 Elect a Representative of Shin Kong Ocean Enterprise Co., Ltd. with Shareholder No. 101 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

4.4 Elect a Representative of Shin Kong Medical Club Co., Ltd. with Shareholder No. 413329 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

4.5 Elect a Representative of Taiwan Shin Kong Security Co., Ltd. with Shareholder No. 18992 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

4.6 Elect Peng Hsueh Fen, Representative of Chin Shan Investment Co., Ltd., with Shareholder No. 141 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.7 Elect a Representative of Shin Chan Investment Co., Ltd. with Shareholder No. 415689 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.8 Elect Wu Tung Shing, Representative of Tung Shing Investment Co., Ltd., with Shareholder No. 27143 as Non-Independent Director

For

For

Votes to favour our preferred candidates

Concerns about independence

ELECT 12 OUT OF 17 NON-INDEPENDENT DIRECTORS AND 3 OUT OF 4 INDEPENDENT DIRECTORS

300

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

Votes to favour our preferred candidates

4.10 Elect Lee Jih Chu, Representative of Shin Kong Wu Tung Chin Foundation, with Shareholder No. 38259 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.11 Elect Wu Benson, Representative of Wu Chia Lu Insurance Culture and Education Foundation, with Shareholder No. 42760 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.12 Elect Su Chi Ming, Representative of Hui Feng Investment Co., Ltd., with Shareholder No. 29 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.13 Elect Hung Wen Tong, Representative of Shin Sheng Company Ltd., with Shareholder No. 89 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.14 Elect Lin Po Han, Representative of Shin Sheng Company Ltd., with Shareholder No. 89 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.15 Elect Wu Tung Ming, Representative of Shin Sheng Company Ltd., with Shareholder No. 89 as Non-Independent Director

For

For

Votes to favour our preferred candidates

4.16 Elect Hung Shih Chi, Representative of Shin Sheng Company Ltd., with Shareholder No. 89 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

4.17 Elect Chien Min Chiu, Representative of Shin Sheng Company Ltd., with Shareholder No. 89 as Non-Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

4.9 Elect Yeh Yun Wan, Representative of Shin Kong Mitsukoshi Department Store Co., Ltd., with Shareholder No. 26835 as Non-Independent Director

Shin-Etsu Chemical Co. Ltd.

301

29/06/2017 Japan

Annual

4.18 Elect Li Cheng Yi with ID No. R102775XXX as Independent Director For

For

Votes to favour our preferred candidates

4.19 Elect Li Sheng Yann with ID No. D100445XXX as Independent Director

For

For

Votes to favour our preferred candidates

4.20 Elect Li Mei Hwa with Shareholder No. 390185 as Independent Director

For

For

Votes to favour our preferred candidates

4.21 Elect Huang Jui Hsiang with ID No. R121297XXX as Independent Director

For

Against

Votes to favour our preferred candidates

1 Approve Allocation of Income, with a Final Dividend of JPY 60

For

For

2 Amend Articles to Indemnify Directors - Indemnify Statutory Auditors

For

For

3.1 Elect Director Saito, Yasuhiko

For

For

3.2 Elect Director Ishihara, Toshinobu

For

For

3.3 Elect Director Ueno, Susumu

For

For

3.4 Elect Director Matsui, Yukihiro

For

For

3.5 Elect Director Miyajima, Masaki

For

For

3.6 Elect Director Frank Peter Popoff

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3.7 Elect Director Miyazaki, Tsuyoshi

Shinsei Bank Ltd.

Shionogi & Co., Ltd.

Shizuoka Bank Ltd.

302

21/06/2017 Japan

22/06/2017 Japan

16/06/2017 Japan

Annual

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3.8 Elect Director Fukui, Toshihiko

For

For

3.9 Elect Director Kasahara, Toshiyuki

For

For

3.10 Elect Director Onezawa, Hidenori

For

For

3.11 Elect Director Maruyama, Kazumasa

For

For

4 Appoint Statutory Auditor Fukui, Taku

For

For

5 Approve Stock Option Plan

For

For

1 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

2 Amend Articles to Update Authorized Capital to Reflect Reverse Stock Split - Reduce Share Trading Unit

For

For

3.1 Elect Director Kudo, Hideyuki

For

For

3.2 Elect Director Nakamura, Yukio

For

For

3.3 Elect Director J. Christopher Flowers

For

For

3.4 Elect Director Ernest M. Higa

For

For

3.5 Elect Director Kani, Shigeru

For

For

3.6 Elect Director Makihara, Jun

For

For

3.7 Elect Director Tomimura, Ryuichi

For

For

For

For

2.1 Elect Director Shiono, Motozo

1 Approve Allocation of Income, with a Final Dividend of JPY 38

For

For

2.2 Elect Director Teshirogi, Isao

For

For

2.3 Elect Director Sawada, Takuko

For

For

2.4 Elect Director Nomura, Akio

For

For

2.5 Elect Director Mogi, Teppei

For

For

2.6 Elect Director Ando, Keiichi

For

For

3 Appoint Statutory Auditor Hirasawa, Masahide

For

For

Concerns about independence

3 Appoint Statutory Auditor Hirasawa, Masahide

For

For

Concerns about independence

1 Approve Allocation of Income, With a Final Dividend of JPY 10

For

For

2.1 Elect Director Nakanishi, Katsunori

For

For

2.2 Elect Director Shibata, Hisashi

For

For

2.3 Elect Director Sugimoto, Hirotoshi

For

For

2.4 Elect Director Yagi, Minoru

For

For

2.5 Elect Director Nagasawa, Yoshihiro

For

For

2.6 Elect Director Iio, Hidehito

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.7 Elect Director Kobayashi, Mitsuru

For

For

2.8 Elect Director Goto, Masahiro

For

For

2.9 Elect Director Fujisawa, Kumi

For

For

2.10 Elect Director Kato, Kazuyasu

For

For

Showa Denko K.K.

27/06/2017 Japan

Special

1 Approve Dividend of JPY 30

For

For

Shriram Transport Finance Company Limited

29/06/2017 India

Annual

1 Accept Financial Statements and Statutory Reports

For

For

2 Confirm Interim Dividend and Declare Final Dividend

For

For

3 Reelect Gerrit Lodewyk Van Heerde as Director

For

For

4 Approve Haribhakti & Co. LLP, Chartered Accountants, Mumbai and Pijush Gupta & Co. Chartered Accountants, Kolkata as Joint Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Elect Umesh Revankar as Director

For

For

6 Approve Appointment and Remuneration of Umesh Revankar as Managing Director and CEO

For

For

7 Approve Increase in Borrowing Powers

For

For

8 Approve Pledging of Assets for Debt

For

For

9 Approve Issuance of Debt Securities on Private Placement Basis

For

For

10 Approve Commission to Independent Directors

For

For

1a Elect Director H. Todd Stitzer

For

For

1b Elect Director Virginia "Gina" Drosos

For

For

1d Elect Director Mark Light

For

For

1e Elect Director Helen McCluskey

For

For

1f Elect Director Marianne Miller Parrs

For

For

Signet Jewelers Limited

28/06/2017 Bermuda

Annual

1c Elect Director Dale Hilpert *Withdrawn Resolution*

303

1g Elect Director Thomas Plaskett

For

For

1h Elect Director Jonathan Sokoloff

For

For

1i Elect Director Robert Stack

For

For

1j Elect Director Brian Tilzer

For

For

1k Elect Director Eugenia Ulasewicz

For

For

1l Elect Director Russell Walls

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote on Executive Compensation Approach

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Silgan Holdings Inc.

Meeting Date Country 05/06/2017 USA

Meeting Type Annual

Proposal Number Proposal Text 1.1 Elect Director D. Greg Horrigan 1.2 Elect Director John W. Alden

Siliconware Precision Industries Co., Ltd. 28/06/2017 Taiwan

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

Withhold

Concerns about overall board structure Concerns about overall board structure

For

Withhold

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4.1 Elect Bough Lin with Shareholder No. 3 as Non-Independent Director

For

For

4.2 Elect Chi Wen Tsai with Shareholder No. 6 as Non-Independent Director

For

For

4.3 Elect Wen Lung Lin with Shareholder No. 18 as Non-Independent Director

For

For

4.4 Elect Yen Chun Chang with Shareholder No. 5 as Non-Independent Director

For

For

4.5 Elect Randy Hsiao Yu Lo with Shareholder No. 77800 as Non-Independent Director

For

For

4.6 Elect a Representative of Yang Fong Investment Co., Ltd. with Shareholder No. 2297 as Non-Independent Director

For

For

Concerns about linkage between pay and performance

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

SinoPac Financial Holdings Co. Ltd.

304

14/06/2017 Taiwan

Annual

4.7 Elect John Jsuan with ID No. F100588XXX as Independent Director

For

For

4.8 Elect Tsai Ding Lin with ID No. F100927XXX as Independent Director

For

For

4.9 Elect William W. Sheng with ID No. A120242XXX as Independent Director

For

For

5 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

For

6 Other Business

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Profit Distribution and Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENEDENT DIRECTORS VIA CUMULATIVE VOTING

Sinopec Shanghai Petrochemical Co. Ltd.

15/06/2017 China

Annual

5.1 Elect Ho Show Chung, Representative of Hsinex International Corp., For with Shareholder No. as 398816 as Non-Independent Director

For

5.2 Elect Ho Yi Da, Representative of Hsinex International Corp., with Shareholder No. as 398816as Non-Independent Director

For

For

5.3 Elect Chiu Cheng Hsiung, Representative of YFY Inc., with Shareholder No. 24 as Non-Independent Director

For

For

5.4 Elect Yu, Kuo Chi, Representative of YFY Inc., with Shareholder No. 24 as Non-Independent Director

For

For

5.5 Elect Chong Bell, Representative of YFY Inc., with Shareholder No. 24 as Non-Independent Director

For

For

5.6 Elect Chen Chia Hsien with Shareholder No. 401345 as Non-Independent Director

For

For

5.7 Elect Schive Chi with Shareholder No. 356119 and ID No. Q100446XXX as Independent Director

For

For

5.8 Elect Sheu James J. with ID No. N102581XXX as Independent Director

For

For

5.9 Elect Tsai Yingyi with ID No. C120533XXX as Independent Director

For

For

6 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors

For

For

1 Approve 2016 Work Report of the Board

For

For

2 Approve 2016 Work Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Financial Budget Report

For

For

6 Approve PricewaterhouseCoopers Zhong Tian LLP (Special General Partnership) as Domestic Auditors and PricewaterhouseCoopers as International Auditors and Authorize Board to Fix Their Remuneration

For

For

7 Approve Waiver of Pre-emptive Rights

For

For

8 Approve Remuneration System for Independent Supervisors

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

ELECT SUPERVISORS

305

9.01 Elect Zhai Yalin as Supervisor

For

For

9.02 Elect Fan Qingyong as Supervisor

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

9.03 Elect Zheng Yunrui as Supervisor

For

For

9.04 Elect Choi Ting Ki as Supervisor

For

For

10 Approve Adjustment of Peer Benchmark Enterprises Under the A Shares Share Option Incentive Scheme

For

Against

11 Amend Articles of Association and Its Appendix

For

For

Concerns about linkage between pay and performance

ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 12.01 Elect Wang Zhiqing as Director

For

For

12.02 Elect Wu Haijun as Director

For

For

12.03 Elect Gao Jinping as Director

For

For

12.04 Elect Jin Qiang as Director

For

For

12.05 Elect Guo Xiaojun as Director

For

For

12.06 Elect Zhou Meiyun as Director

For

For

12.07 Elect Lei Dianwu as Director

For

Against

Concerns about candidate

12.08 Elect Mo Zhenglin as Director

For

Against

Concerns about candidate

For

For

ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 13.01 Elect Zhang Yimin as Director

Sinopharm Group Co., Ltd.

30/06/2017 China

Annual

13.02 Elect Liu Yunhong as Director

For

For

13.03 Elect Du Weifeng as Director

For

For

13.04 Elect Pan Fei as Director

For

For

1 Approve Report of the Board of Directors

For

For

2 Approve Report of the Supervisory Committee

For

For

3 Approve Audited Financial Statements of the Company and Its Subsidiaries and the Auditors' Report

For

For

4 Approve Profit Distribution Plan and Payment of Final Dividend

For

For

5 Approve Ernst & Young Hua Ming LLP as the Domestic Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Approve Ernst & Young as the International Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Authorize Board to Fix Remuneration of Directors

For

For

8 Authorize Supervisory Committee to Fix Remuneration of Supervisors

For

For

9 Authorize Board to Approve Guarantees in Favor of Third Parties

For

Against

Concerns to protect shareholder interests

For

Against

Concerns to protect shareholder interests

10 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

306

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Sirius Minerals Plc

Sistema PJSFC

Meeting Date Country 29/06/2017 United Kingdom

24/06/2017 Russia

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Accept Financial Statements and Statutory Reports

For

For

2 Elect Thomas Staley as Director

For

For

3 Re-elect Russell Scrimshaw as Director

For

For

4 Re-elect Chris Fraser as Director

For

For

5 Re-elect Noel Harwerth as Director

For

For

6 Re-elect Keith Clarke as Director

For

For

7 Re-elect Louise Hardy as Director

For

For

8 Re-elect Lord Hutton as Director

For

For

9 Re-elect Jane Lodge as Director

For

For

10 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

11 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

12 Approve Political Donations and Expenditure

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

16 Authorise Market Purchase of Ordinary Shares

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

18 Adopt New Articles of Association

For

For

1 Approve Meeting Procedures

For

For

2 Approve Annual Report and Financial Statements

For

For

3 Approve Allocation of Income and Dividends of RUB 0.81 per Share

For

For

For

For

Meeting for GDR Holders

Elect Three Members of Audit Commission 4.1 Elect Marina Bugorskaya as Member of Audit Commission 4.2 Elect Ekaterina Kuznetsova as Member of Audit Commission

For

For

4.3 Elect Aleksey Lipsky as Member of Audit Commission

For

For

5.1 Elect Anna Belova as Director

None

For

Votes to favour our preferred candidates

5.2 Elect Sergey Boev as Director

None

Against

Votes to favour our preferred candidates

5.3 Elect Andrey Dubovskov as Director

None

Against

Votes to favour our preferred candidates

5.4 Elect Vladimir Evtushenkov as Director

None

Against

Votes to favour our preferred candidates

5.5 Elect Feliks Evtushenkov as Director

None

Against

Votes to favour our preferred candidates

Elect Directors by Cumulative Voting

307

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5.6 Elect Ron Zommeras Director

None

Against

Votes to favour our preferred candidates

5.7 Elect Robert Kocharyan as Director

None

Against

Votes to favour our preferred candidates

5.8 Elect Jean Kreke as Director

None

For

Votes to favour our preferred candidates

5.9 Elect Roger Munnings as Director

None

Against

Votes to favour our preferred candidates

5.10 Elect Mikhail Shamolin as Director

None

Against

Votes to favour our preferred candidates

5.11 Elect David Yakobashvili as Director

None

For

Votes to favour our preferred candidates

For

For

6.1 Ratify ZAO Deloitte and Touche CIS as Auditor for RAS

SJM Holdings Ltd.

13/06/2017 Hong Kong

Annual

6.2 Ratify ZAO Deloitte and Touche CIS as Auditor for IFRS

For

For

7.1 Approve New Edition of Charter

For

For

7.2 Approve New Edition of Regulations on General Meetings

For

For

7.3 Approve New Edition of Regulations on Board of Directors

For

For

7.4 Approve New Edition of Regulations on Management

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

SK Kaken Co. Ltd.

SKY Perfect JSAT Holdings Inc

308

29/06/2017 Japan

23/06/2017 Japan

Annual

Annual

For

For

3.1 Elect So Shu Fai as Director

For

For

3.2 Elect Leong On Kei, Angela as Director

For

For

3.3 Elect Fok Tsun Ting, Timothy as Director

For

Against

4 Elect Ho Chiu Fung, Daisy as Director

For

For

5 Authorize Board to Fix Remuneration of Directors

For

For

6 Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Approve Grant of Options Under the Share Option Scheme

For

Against

8 Authorize Repurchase of Issued Share Capital

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 65

For

For

2 Amend Articles to Amend Provisions on Director Titles

For

For

3 Elect Director Takeuchi, Masahiro

For

For

Concerns about candidate

Concerns about linkage between pay and performance

4 Appoint Statutory Auditor Hamana, Shoji

For

Against

Concerns about independence

5 Approve Statutory Auditor Retirement Bonus

For

Against

Concerns about independence

1.1 Elect Director Takada, Shinji

For

For

1.2 Elect Director Nito, Masao

For

For

1.3 Elect Director Komori, Mitsunobu

For

For

1.4 Elect Director Koyama, Koki

For

For

1.5 Elect Director Yokomizu, Shinji

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.6 Elect Director Komaki, Jiro

01/06/2017 USA

Annual

28/06/2017 Japan

Annual

For

For

For

For

For

1.9 Elect Director Ogasawara, Michiaki

For

For

1.10 Elect Director Kosaka, Kiyoshi

For

For

1.11 Elect Director Kosugi, Yoshinobu

For

For

For

For

2.1 Appoint Statutory Auditor Nishimura, Itaru

For

Against

Concerns about independence

2.2 Appoint Statutory Auditor Aiko, Hiroyuki

For

Against

Concerns about independence

2.1 Appoint Statutory Auditor Nishimura, Itaru

For

Against

Concerns about independence

2.2 Appoint Statutory Auditor Aiko, Hiroyuki

For

Against

Concerns about independence

1a Elect Director Betsy Atkins

For

For

1b Elect Director Marc Holliday

For

For

For

Against

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Declassify the Board of Directors

For

For

4 Ratify Ernst & Young LLP as Auditors

For

For

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

6 Report on Pay Disparity

Against

For

1 Approve Allocation of Income, with a Final Dividend of JPY 200

For

For

2 Amend Articles to Amend Provisions on Number of Directors

For

For

For

For

3.1 Elect Director Takada, Yoshiyuki 3.2 Elect Director Maruyama, Katsunori

For

For

3.3 Elect Director Usui, Ikuji

For

For

3.4 Elect Director Kosugi, Seiji

For

For

3.5 Elect Director Satake, Masahiko

For

For

3.6 Elect Director Kuwahara, Osamu

For

For

3.7 Elect Director Takada, Yoshiki

For

For

3.8 Elect Director Ohashi, Eiji

For

For

3.9 Elect Director Kaizu, Masanobu

For

For

3.10 Elect Director Kagawa, Toshiharu

For

For

For

For

4 Approve Director Retirement Bonus

309

For

1.7 Elect Director Nakatani, Iwao

1c Elect Director John S. Levy

SMC Corp.

Vote Instruction Voter Rationale

1.8 Elect Director Iijima, Kazunobu

1.12 Elect Director Shingu, Tatsushi

SL Green Realty Corp.

Mgmt Rec

Proposal encourages enhanced transparency

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Smiles SA

SOCO International plc

SoftBank Group Corp.

310

Meeting Date Country 30/06/2017 Brazil

13/06/2017 United Kingdom

21/06/2017 Japan

Meeting Type Special

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Merger Agreement between the Company and Webjet Participacoes S.A.

For

For

2 Ratify Ernst & Young Auditores Independentes S.S. and Cabrera Assessoria, Consultoria e Planejamento Empresarial Ltda. as the Independent Firms to Appraise Proposed Transaction

For

For

3 Approve Independent Firm's Appraisals

For

For

4 Approve Merger Between the Company and Webjet Participacoes S.A. and Subsequent Extinction of Company

For

For

5 Authorize Board to Ratify and Execute Approved Resolutions

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Approve Remuneration Policy

For

For

4 Approve Remuneration Report

For

For

5 Re-elect Rui de Sousa as Director

For

For

6 Re-elect Edward Story as Director

For

For

7 Re-elect Roger Cagle as Director

For

For

8 Re-elect Cynthia Cagle as Director

For

For

9 Re-elect Robert Gray as Director

For

For

10 Re-elect Olivier Barbaroux as Director

For

For

11 Re-elect Ettore Contini as Director

For

For

12 Re-elect Antonio Monteiro as Director

For

For

13 Reappoint Deloitte LLP as Auditors

For

For

14 Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

18 Authorise Market Purchase of Ordinary Shares

For

For

19 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 22 2.1 Elect Director Son, Masayoshi

For

For

2.2 Elect Director Miyauchi, Ken

For

For

2.3 Elect Director Ronald Fisher

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.4 Elect Director Marcelo Claure

For

For

2.5 Elect Director Rajeev Misra

For

For

2.6 Elect Director Simon Segars

For

For

2.7 Elect Director Yun Ma

For

For

2.8 Elect Director Yanai, Tadashi

For

For

2.9 Elect Director Nagamori, Shigenobu

For

For

2.10 Elect Director Mark Schwartz

For

For

2.11 Elect Director Yasir O. Al-Rumayyan

For

For

For

For

3.1 Appoint Statutory Auditor Suzaki, Masato

Sohgo Security Services Co., Ltd.

Sojitz Corporation

311

27/06/2017 Japan

20/06/2017 Japan

Annual

Annual

3.2 Appoint Statutory Auditor Uno, Soichiro

For

For

3.3 Appoint Statutory Auditor Kubokawa, Hidekazu

For

For

4 Approve Stock Option Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 27.5

For

For

2 Amend Articles to Amend Business Lines - Amend Provisions on Number of Directors

For

For

3.1 Elect Director Murai, Atsushi

For

For

3.2 Elect Director Aoyama, Yukiyasu

For

For

3.3 Elect Director Hara, Kiyomi

For

For

3.4 Elect Director Hokari, Hirohisa

For

For

3.5 Elect Director Otani, Hiraku

For

For

3.6 Elect Director Murai, Tsuyoshi

For

For

3.7 Elect Director Terao, Masashi

For

For

3.8 Elect Director Nomura, Shigeki

For

For

3.9 Elect Director Kayaki, Ikuji

For

For

3.10 Elect Director Takehana, Yutaka

For

For

3.11 Elect Director Iwaki, Masakazu

For

For

3.12 Elect Director Ono, Seiei

For

For

4 Appoint Statutory Auditor Uenoyama, Makoto

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 4

For

For

2.1 Elect Director Sato, Yoji

For

For

2.2 Elect Director Hara, Takashi

For

For

2.3 Elect Director Fujimoto, Masayoshi

For

For

2.4 Elect Director Mizui, Satoshi

For

For

2.5 Elect Director Tanaka, Seiichi

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.6 Elect Director Ishikura, Yoko

Sompo Holdings, Inc.

26/06/2017 Japan

Annual

312

Annual

For

For

2.7 Elect Director Kitazume, Yukio

For

For

For

For

3.2 Appoint Statutory Auditor Kambayashi, Hiyoo

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 50 2.1 Elect Director Sakurada, Kengo

For

For

2.2 Elect Director Tsuji, Shinji

For

For

2.3 Elect Director Ehara, Shigeru

For

For

2.4 Elect Director Fujikura, Masato

For

For

2.5 Elect Director Yoshikawa, Koichi

For

For

2.6 Elect Director Okumura, Mikio

For

For

2.7 Elect Director Nishizawa, Keiji

For

For

2.8 Elect Director Takahashi, Kaoru

For

For

2.9 Elect Director Nohara, Sawako

13/06/2017 Switzerland

Vote Instruction Voter Rationale

3.1 Appoint Statutory Auditor Yagi, Kazunori

2.10 Elect Director Endo, Isao

Sonova Holding AG

Mgmt Rec

For

For

For

For

2.11 Elect Director Murata, Tamami

For

For

2.12 Elect Director Scott Trevor Davis

For

For

3.1 Appoint Statutory Auditor Uchiyama, Hideyo

For

For

3.2 Appoint Statutory Auditor Muraki, Atsuko

For

For

4 Approve Compensation Ceiling for Directors

For

For

5 Approve Trust-Type Equity Compensation Plan

For

For

1.1 Accept Financial Statements and Statutory Reports

For

Do Not Vote

1.2 Approve Remuneration Report (Non-Binding)

For

Do Not Vote

2 Approve Allocation of Income and Dividends of CHF 2.30 per Share

For

Do Not Vote

3 Approve Discharge of Board and Senior Management

For

Do Not Vote

4.1.1 Reelect Robert Spoerry as Director and Board Chairman

For

Do Not Vote

4.1.2 Reelect Beat Hess as Director

For

Do Not Vote

4.1.3 Elect Lynn Dorsey Bleil as Director

For

Do Not Vote

To prevent shareblocking

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Sony Corporation

313

Meeting Date Country

15/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4.1.4 Reelect Michael Jacobi as Director

For

Do Not Vote

4.1.5 Reelect Stacy Enxing Seng as Director

For

Do Not Vote

4.1.6 Reelect Anssi Vanjoki as Director

For

Do Not Vote

4.1.7 Reelect Roland van der Vis as Director

For

Do Not Vote

4.1.8 Reelect Jinlong Wang as Director

For

Do Not Vote

4.2.1 Appoint Robert Spoerry as Member of the Compensation Committee

For

Do Not Vote

4.2.2 Appoint Beat Hess as Member of the Compensation Committee

For

Do Not Vote

4.2.3 Appoint Stacy Enxing Seng as Member of the Compensation Committee

For

Do Not Vote

4.3 Ratify PricewaterhouseCoopers AG as Auditors

For

Do Not Vote

4.4 Designate Andreas Keller as Independent Proxy

For

Do Not Vote

5.1 Approve Remuneration of Board of Directors in the Amount of CHF 3 Million

For

Do Not Vote

5.2 Approve Remuneration of Executive Committee in the Amount of CHF 16.9 Million

For

Do Not Vote

6 Approve CHF 4,600 Reduction in Share Capital via Cancellation of Shares

For

Do Not Vote

7 Transact Other Business (Voting)

For

Do Not Vote

For

Against

1.1 Elect Director Hirai, Kazuo 1.2 Elect Director Yoshida, Kenichiro

For

For

1.3 Elect Director Nagayama, Osamu

For

For

1.4 Elect Director Nimura, Takaaki

For

For

1.5 Elect Director Harada, Eiko

For

For

1.6 Elect Director Tim Schaaff

For

For

1.7 Elect Director Matsunaga, Kazuo

For

For

1.8 Elect Director Miyata, Koichi

For

For

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Sony Financial Holdings Inc.

Spirit Realty Capital, Inc.

Standard Foods Corp

314

Meeting Date Country

21/06/2017 Japan

28/06/2017 USA

22/06/2017 Taiwan

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.9 Elect Director John V. Roos

For

For

1.10 Elect Director Sakurai, Eriko

For

For

1.11 Elect Director Minakawa, Kunihito

For

For

1.12 Elect Director Sumi, Shuzo

For

For

2 Approve Stock Option Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 55

For

For

2.1 Elect Director Ishii, Shigeru

For

For

2.2 Elect Director Kiyomiya, Hiroaki

For

For

2.3 Elect Director Ito, Yutaka

For

For

2.4 Elect Director Hagimoto, Tomo

For

For

2.5 Elect Director Niwa, Atsuo

For

For

2.6 Elect Director Sumimoto, Yuichiro

For

For

2.7 Elect Director Kambe, Shiro

For

For

2.8 Elect Director Yamamoto, Isao

For

For

2.9 Elect Director Kuniya, Shiro

For

For

3 Appoint Statutory Auditor Korenaga, Hirotoshi

For

For

4 Appoint Alternate Statutory Auditor Saegusa, Takaharu

For

For

5 Approve Equity Compensation Plan and Deep Discount Stock Option Plan

For

For

For

For

1.1 Elect Director Jackson Hsieh 1.2 Elect Director Kevin M. Charlton

For

For

1.3 Elect Director Todd A. Dunn

For

For

1.4 Elect Director Richard I. Gilchrist

For

For

1.5 Elect Director Diane M. Morefield

For

For

1.6 Elect Director Sheli Z. Rosenberg

For

For

1.7 Elect Director Thomas D. Senkbeil

For

For

1.8 Elect Director Nicholas P. Shepherd

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Amend Procedures for Lending Funds to Other Parties

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Standard Life Investments Property Income Trust Ltd

Standard Life plc

Stanley Electric Co. Ltd.

Meeting Date Country

07/06/2017 Guernsey

19/06/2017 United Kingdom

22/06/2017 Japan

Meeting Type

Annual

Special

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Issuance of New Shares by Capitalization of Profit

For

For

6 Approve Amendments to Articles of Association

For

For

7 Other Business

None

Against

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Ratify Ernst & Young LLP as Auditors

For

For

4 Authorise Board to Fix Remuneration of Auditors

For

For

5 Re-elect Sally-Ann Farnon as Director

For

For

6 Re-elect Huw Evans as Director

For

For

7 Re-elect Robert Peto as Director

For

For

8 Re-elect Mike Balfour as Director

For

For

9 Elect James Clifton-Brown as Director

For

For

10 Authorise Market Purchase of Ordinary Shares

For

For

11 Authorise Issue of Equity without Pre-emptive Rights

For

For

1 Approve Matters Relating to the Merger of Standard Life and Aberdeen

For

Do Not Vote

Not voted to avoid conflict of interests

2 Approve Remuneration Policy

For

Do Not Vote

Not voted to avoid conflict of interests

1.1 Elect Director Kitano, Takanori

For

For

1.2 Elect Director Hiratsuka, Yutaka

For

For

1.3 Elect Director Tanabe, Toru

For

For

1.4 Elect Director Iino, Katsutoshi

For

For

1.5 Elect Director Takamori, Hiroyuki

For

For

1.6 Elect Director Yoneya, Mitsuhiro

For

For

1.7 Elect Director Mori, Masakatsu

For

For

1.8 Elect Director Kono, Hirokazu

For

For

1.9 Elect Director Kaizumi, Yasuaki

For

For

For

For

For

For

1.10 Elect Director Ueda, Keisuke 2 Appoint Statutory Auditor Shimoda, Koji Staples, Inc.

315

12/06/2017 USA

Annual

Substance of resolution unclear at time of voting

1a Elect Director Drew G. Faust

For

For

1b Elect Director Curtis Feeny

For

For

1c Elect Director Paul-Henri Ferrand

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Start Today Co Ltd

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1d Elect Director Shira Goodman

For

For

1e Elect Director Deborah A. Henretta

For

For

1f Elect Director Kunal S. Kamlani

For

For

1g Elect Director John F. Lundgren

For

For

1h Elect Director Robert E. Sulentic

For

For

1i Elect Director Vijay Vishwanath

For

For

1j Elect Director Paul F. Walsh

For

For

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Amend Executive Incentive Bonus Plan

For

For

5 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 16

For

For

2 Amend Articles to Amend Business Lines - Amend Provisions on Number of Directors

For

For

3.1 Elect Director Maezawa, Yusaku

For

Against

3.2 Elect Director Yanagisawa, Koji

For

For

3.3 Elect Director Oishi, Akiko

For

For

3.4 Elect Director Muto, Takanobu

For

For

3.5 Elect Director Okura, Mineki

For

For

3.6 Elect Director Sawada, Kotaro

For

For

3.7 Elect Director Shimizu, Toshiaki

For

For

3.8 Elect Director Ito, Masahiro

For

For

3.9 Elect Director Ono, Koji

For

For

For

For

1.1 Elect Vinod Kumar as Director

For

Do Not Vote

None of candidates enhances board independence

1.2 Elect S. Sundarraman as Director

For

Do Not Vote

None of candidates enhances board independence

1.3 Elect A. Subramanya as Director

For

Do Not Vote

None of candidates enhances board independence

1.4 Elect Amar Pal as Director

For

Do Not Vote

None of candidates enhances board independence

4 Approve Compensation Ceiling for Directors State Bank of India

316

15/06/2017 India

Special

Concerns about overall board structure

ELECT FOUR SHAREHOLDER DIRECTORS FROM THE FOLLOWING NOMINEES:

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

27/06/2017 India

Annual

STMicroelectronics NV

20/06/2017 Netherlands

Annual

Vote Instruction Voter Rationale

1.5 Elect Sanjiv Malhotra as Director

For

Do Not Vote

None of candidates enhances board independence

1.6 Elect Bhaskar Pramanik as Director

For

Do Not Vote

None of candidates enhances board independence

1.7 Elect M.D. Mallya as Director

For

Abstain

None of candidates enhances board independence

1.8 Elect Pravin Hari Kutumbe as Director

For

Abstain

None of candidates enhances board independence

1.9 Elect Basant Seth as Director

For

Abstain

None of candidates enhances board independence

For

Abstain

None of candidates enhances board independence

For

For

4b Adopt Financial Statements and Statutory Reports

For

For

1.10 Elect Shiv Nandan Sharma as Director State Bank of India

Mgmt Rec

1 Accept Financial Statements and Statutory Reports Annual Meeting Agenda 1 Open Meeting 2 Receive Report of Management Board (Non-Voting) 3 Receive Report of Supervisory Board (Non-Voting) 4a Discuss Remuneration Report Containing Remuneration Policy for Management Board Members 4c Approve Dividends

For

For

4d Approve Discharge of Management Board

For

For

4e Approve Discharge of Supervisory Board

For

For

5 Amend Articles of Association

For

For

6 Reelect Carlo Bozotti to Management Board

For

For

7 Approve Restricted Stock Grants to President and CEO

For

Against

8 Reelect Heleen Kersten to Supervisory Board

For

For

9 Reelect Jean-Georges Malcor to Supervisory Board

For

For

10 Reelect Alessandro Rivera to Supervisory Board

For

Against

11 Elect Frederic Sanchez to Supervisory Board

For

For

12 Reelect Maurizio Tamagnini to Supervisory Board

For

For

13 Approve Employee Restricted Stock Plan

For

For

14 Authorize Repurchase of Shares

For

For

15 Grant Board Authority to Issue Ordinary and Preference Shares Up To 10 Percent of Issued Capital Plus Additional 10 Percent in Case of Takeover/Merger and Restricting/Excluding Preemptive Rights

For

Against

Concerns about linkage between pay and performance

Concerns about overall board structure

Concerns to protect shareholder interests

16 Allow Questions 17 Close Meeting

317

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Stobart Group Ltd

STORE Capital Corporation

Meeting Date Country 29/06/2017 United Kingdom

01/06/2017 USA

Meeting Type Annual

Annual

Strategic Active Trading Fund PlcAlternative Strategies

15/06/2017 Ireland

Annual

Strauss Group Ltd.

12/06/2017 Israel

Special

318

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Re-elect Iain Ferguson as Director

For

For

4 Re-elect Andrew Tinkler as Director

For

For

5 Re-elect Andrew Wood as Director

For

For

6 Re-elect John Coombs as Director

For

For

7 Re-elect John Garbutt as Director

For

For

8 Elect Warwick Brady as Director

For

For

9 Reappoint KPMG LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Approve Remuneration Report

For

For

12 Approve Remuneration Policy

For

For

13 Approve Alignment of Performance Periods for the Awards

For

Against

14 Amend Long Term Incentive Plan

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Adopt New Articles of Incorporation

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise Market Purchase of Ordinary Shares

For

For

1.1 Elect Director Morton H. Fleischer

For

Withhold

1.2 Elect Director Christopher H. Volk

For

For

1.3 Elect Director Joseph M. Donovan

For

For

1.4 Elect Director Mary Fedewa

For

For

1.5 Elect Director William F. Hipp

For

For

1.6 Elect Director Einar A. Seadler

For

For

1.7 Elect Director Mark N. Sklar

For

For

1.8 Elect Director Quentin P. Smith, Jr.

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Ratify Ernst & Young LLP as Auditors

For

For

1 Ratify KPMG as Auditors

For

For

2 Authorise Board to Fix Remuneration of Auditors

For

For

1 Elect Samer Haj-Yehia as External Director

For

For

Concerns about linkage between pay and performance

Concerns about overall board structure

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

None

Against

Not a controlling shareholder

B1 If you are an Interest Holder as defined in Section 1 of the Securities None Law, 1968, vote FOR. Otherwise, vote against.

Against

Not an interest holder

B2 If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Against

Not a senior officer

A Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager Please Select Any Category Which Applies to You as a Shareholder or as a Holder of Power of Attorney

None

B3 If you are an Institutional Investor as defined in Regulation 1 of the None Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against. Subaru Corp

Sumitomo Chemical Co. Ltd.

319

23/06/2017 Japan

21/06/2017 Japan

Annual

Annual

For

1 Approve Allocation of Income, with a Final Dividend of JPY 72

For

For

2 Amend Articles to Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

For

For

3.1 Elect Director Yoshinaga, Yasuyuki

For

For

3.2 Elect Director Kondo, Jun

For

For

3.3 Elect Director Tachimori, Takeshi

For

For

3.4 Elect Director Kasai, Masahiro

For

For

3.5 Elect Director Okada, Toshiaki

For

For

3.6 Elect Director Kato, Yoichi

For

For

3.7 Elect Director Komamura, Yoshinori

For

For

3.8 Elect Director Aoyama, Shigehiro

For

For

4 Appoint Alternate Statutory Auditor Tamazawa, Kenji

For

For

5 Approve Equity Compensation Plan

For

For

For

For

1.1 Elect Director Ishitobi, Osamu 1.2 Elect Director Tokura, Masakazu

For

For

1.3 Elect Director Deguchi, Toshihisa

For

For

1.4 Elect Director Okamoto, Yoshihiko

For

For

1.5 Elect Director Nishimoto, Rei

For

For

1.6 Elect Director Nozaki, Kunio

For

For

1.7 Elect Director Ueda, Hiroshi

For

For

1.8 Elect Director Takeshita, Noriaki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Sumitomo Corp.

Meeting Date Country

23/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.9 Elect Director Ito, Kunio

For

For

1.10 Elect Director Ikeda, Koichi

For

For

1.11 Elect Director Tomono, Hiroshi

For

For

2 Appoint Statutory Auditor Aso, Mitsuhiro

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 25

For

For

2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

For

For

For

For

3.1 Elect Director Omori, Kazuo

Sumitomo Dainippon Pharma Co., Ltd.

22/06/2017 Japan

Annual

3.2 Elect Director Nakamura, Kuniharu

For

For

3.3 Elect Director Hidaka, Naoki

For

For

3.4 Elect Director Iwasawa, Hideki

For

For

3.5 Elect Director Takahata, Koichi

For

For

3.6 Elect Director Tabuchi, Masao

For

For

3.7 Elect Director Tanaka, Yayoi

For

For

3.8 Elect Director Ehara, Nobuyoshi

For

For

3.9 Elect Director Ishida, Koji

For

For

4 Appoint Statutory Auditor Kasama, Haruo

For

For

5 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 11 2.1 Elect Director Tada, Masayo

Sumitomo Electric Industries Ltd.

28/06/2017 Japan

Annual

For For

2.2 Elect Director Nomura, Hiroshi

For

For

2.3 Elect Director Odagiri, Hitoshi

For

For

2.4 Elect Director Kimura, Toru

For

For

2.5 Elect Director Hara, Nobuyuki

For

For

2.6 Elect Director Sato, Hidehiko

For

For

2.7 Elect Director Sato, Hiroshi

For

For

2.8 Elect Director Atomi, Yutaka

For

For

3.1 Appoint Statutory Auditor Oe, Yoshinori

For

For

3.2 Appoint Statutory Auditor Nishikawa, Kazuto

For

For

3.3 Appoint Statutory Auditor Fujii, Junsuke

For

Against

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 23 2.1 Elect Director Inoue, Osamu

320

For For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.2 Elect Director Hato, Hideo

Sumitomo Heavy Industries, Ltd.

29/06/2017 Japan

Annual

For

For For

3.2 Appoint Statutory Auditor Watanabe, Katsuaki

For

Against

4 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 9

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

For

3.2 Elect Director Betsukawa, Shunsuke

For

For

For

For

3.4 Elect Director Tomita, Yoshiyuki

For

For

3.5 Elect Director Tanaka, Toshiharu

For

For

3.6 Elect Director Kojima, Eiji

For

For

3.7 Elect Director Ide, Mikio

For

For

3.8 Elect Director Shimomura, Shinji

For

For

For

For

For

For

4 Appoint Statutory Auditor Nakamura, Masaichi

For

For

5 Appoint Alternate Statutory Auditor Kato, Tomoyuki

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Nakazato, Yoshiaki

For

For

3.2 Elect Director Kubota, Takeshi

For

For

3.3 Elect Director Kurokawa, Harumasa

For

For

3.4 Elect Director Nozaki, Akira

For

For

3.5 Elect Director Asahi, Hiroshi

For

For

3.6 Elect Director Ushijima, Tsutomu

For

For

3.7 Elect Director Taimatsu, Hitoshi

For

For

3.8 Elect Director Nakano, Kazuhisa

For

For

4.1 Appoint Statutory Auditor Ino, Kazushi

For

For

5 Appoint Alternate Statutory Auditor Mishina, Kazuhiro

Concerns about independence

For

3.3 Elect Director Nishimura, Shinji

4.2 Appoint Statutory Auditor Yamada, Yuichi

321

For

For

3.9 Elect Director Takahashi, Susumu

Annual

For

2.3 Elect Director Shirayama, Masaki

3.10 Elect Director Kojima, Hideo

27/06/2017 Japan

Vote Instruction Voter Rationale

3.1 Appoint Statutory Auditor Hayashi, Akira

3.1 Elect Director Nakamura, Yoshinobu

Sumitomo Metal Mining Co. Ltd.

Mgmt Rec

For

Against

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Trust Holdings, Inc.

322

Meeting Date Country 29/06/2017 Japan

29/06/2017 Japan

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2 Amend Articles to Abolish Board Structure with Statutory Auditors For - Adopt Board Structure with Three Committees - Amend Provisions on Director Titles - Indemnify Directors

For

1 Approve Allocation of Income, with a Final Dividend of JPY 75

3.1 Elect Director Miyata, Koichi

For

For

3.2 Elect Director Kunibe, Takeshi

For

For

3.3 Elect Director Takashima, Makoto

For

For

3.4 Elect Director Ogino, Kozo

For

For

3.5 Elect Director Ota, Jun

For

For

3.6 Elect Director Tanizaki, Katsunori

For

For

3.7 Elect Director Yaku, Toshikazu

For

For

3.8 Elect Director Teramoto, Toshiyuki

For

For

3.9 Elect Director Mikami, Toru

For

For

3.10 Elect Director Kubo, Tetsuya

For

For

3.11 Elect Director Matsumoto, Masayuki

For

For

3.12 Elect Director Arthur M. Mitchell

For

For

3.13 Elect Director Yamazaki, Shozo

For

For

3.14 Elect Director Kono, Masaharu

For

For

3.15 Elect Director Tsutsui, Yoshinobu

For

For

3.16 Elect Director Shimbo, Katsuyoshi

For

For

3.17 Elect Director Sakurai, Eriko

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 65

For

For

2 Amend Articles to Adopt Board Structure with Three Committees Amend Provisions on Number of Directors - Indemnify Directors Reflect Changes in Law

For

For

3.1 Elect Director Okubo, Tetsuo

For

For

3.2 Elect Director Araumi, Jiro

For

For

3.3 Elect Director Takakura, Toru

For

For

3.4 Elect Director Hashimoto, Masaru

For

For

3.5 Elect Director Kitamura, Kunitaro

For

For

3.6 Elect Director Tsunekage, Hitoshi

For

For

3.7 Elect Director Yagi, Yasuyuki

For

For

3.8 Elect Director Misawa, Hiroshi

For

For

3.9 Elect Director Shinohara, Soichi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3.10 Elect Director Suzuki, Takeshi

Sumitomo Osaka Cement Co. Ltd.

29/06/2017 Japan

Annual

29/06/2017 Japan

Annual

Sundrug Co. Ltd.

323

20/06/2017 India 24/06/2017 Japan

Court Annual

For

For

3.11 Elect Director Araki, Mikio

For

For

For

For

3.13 Elect Director Saito, Shinichi

For

For

3.14 Elect Director Yoshida, Takashi

For

For

3.15 Elect Director Kawamoto, Hiroko

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5

For

For

For

For

2.2 Elect Director Suga, Yushi

For

For

2.3 Elect Director Mukai, Katsuji

For

For

2.4 Elect Director Yoshitomi, Isao

For

For

2.5 Elect Director Yamamoto, Shigemi

For

For

2.6 Elect Director Onishi, Toshihiko

For

For

2.7 Elect Director Saida, Kunitaro

For

For

2.8 Elect Director Watanabe, Akira

For

For

For

For

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 13 2.1 Elect Director Takashima, Junji

Sun Pharmaceutical Industries Ltd.

Vote Instruction Voter Rationale

3.12 Elect Director Matsushita, Isao

2.1 Elect Director Sekine, Fukuichi

Sumitomo Realty & Development Co. Ltd.

Mgmt Rec

2.2 Elect Director Onodera, Kenichi

For

For

2.3 Elect Director Nishima, Kojun

For

For

2.4 Elect Director Takemura, Nobuaki

For

For

2.5 Elect Director Kobayashi, Masato

For

For

2.6 Elect Director Kato, Hiroshi

For

For

2.7 Elect Director Aoki, Masumi

For

For

2.8 Elect Director Odai, Yoshiyuki

For

For

2.9 Elect Director Ito, Koji

For

For

2.10 Elect Director Tanaka, Toshikazu

For

For

2.11 Elect Director Yonekura, Hiromasa

For

For

2.12 Elect Director Abe, Shoichi

For

For

3 Appoint Statutory Auditor Kitamura, Tadashi

For

For

4 Appoint Alternate Statutory Auditor Uno, Kozo

For

For

1 Approve Scheme of Arrangement

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 55

For

For

Court-Ordered Meeting for Shareholders

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

4 Amend Regulations on Audit Commission

For

For

5 Approve Remuneration of Directors

For

Against

6 Approve Remuneration of Members of Audit Commission

For

For

7.1 Elect Aleksandr Agaryov as Director

None

Against

Votes to favour our preferred candidates

7.2 Elect Vladimir Bogdanov as Director

None

Against

Votes to favour our preferred candidates

7.3 Elect Aleksandr Bulanov as Director

None

Against

Votes to favour our preferred candidates

7.4 Elect Ivan Dinichenko as Director

None

Against

Votes to favour our preferred candidates

7.5 Elect Vladimir Erokhin as Director

None

Against

Votes to favour our preferred candidates

7.6 Elect Viktor Krivosheev as Director

None

Against

Votes to favour our preferred candidates

7.7 Elect Nikolay Matveev as Director

None

Against

Votes to favour our preferred candidates

7.8 Elect Vladimir Raritsky as Director

None

Against

Votes to favour our preferred candidates

None

Against

Votes to favour our preferred candidates

None

For

2 Elect Director Tada, Takashi Surgutneftegaz

29/06/2017 Russia

Annual

Meeting for ADR Holders

Concerns about linkage between pay and performance

Elect Nine Directors by Cumulative Voting

7.9 Elect Ildus Usmanov as Director 7.10 Elect Vladimir Shashkov as Director Elect Three Members of Audit Commission 8.1 Elect Taisiya Klinovskaya as Member of Audit Commission

For

For

8.2 Elect Valentina Musikhina as Member of Audit Commission

For

For

8.3 Elect Tamara Oleynik as Member of Audit Commission

For

For

For

For

For

For

9 Ratify Auditor 10 Approve Related-Party Transaction Re: Liability Insurance for Directors and Officials Suruga Bank Ltd.

324

21/06/2017 Japan

Annual

1.1 Elect Director Okano, Mitsuyoshi

For

For

1.2 Elect Director Yoneyama, Akihiro

For

For

1.3 Elect Director Shirai, Toshihiko

For

For

1.4 Elect Director Mochizuki, Kazuya

For

For

1.5 Elect Director Okazaki, Yoshihiro

For

For

1.6 Elect Director Yagi, Takeshi

For

For

1.7 Elect Director Arikuni, Michio

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Suzuken Co Ltd

Suzuki Motor Corp.

Meeting Date Country

28/06/2017 Japan

29/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1.8 Elect Director Yanagisawa, Nobuaki

For

For

1.9 Elect Director Naruke, Makoto

For

For

1.10 Elect Director Ando, Yoshinori

For

For

1.11 Elect Director Oishi, Kanoko

For

For

2 Approve Director Retirement Bonus

For

Against

Concerns about independence

2 Approve Director Retirement Bonus

For

Against

Concerns about independence

1 Amend Articles to Amend Business Lines - Indemnify Directors Clarify Provisions on Alternate Statutory Auditors - Indemnify Statutory Auditors

For

For

2.1 Elect Director Bessho, Yoshiki

For

For

2.2 Elect Director Miyata, Hiromi

For

For

2.3 Elect Director Asano, Shigeru

For

For

2.4 Elect Director Saito, Masao

For

For

2.5 Elect Director Izawa, Yoshimichi

For

For

2.6 Elect Director Tamura, Hisashi

For

For

2.7 Elect Director Ueda, Keisuke

For

For

2.8 Elect Director Iwatani, Toshiaki

For

For

2.9 Elect Director Usui, Yasunori

For

For

3 Appoint Statutory Auditor Takeda, Noriyuki

For

For

4 Appoint Alternate Statutory Auditor Takahashi, Masahiko

For

For

5 Approve Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 27

For

For

2 Amend Articles to Amend Provisions on Number of Directors

For

For

3.1 Elect Director Suzuki, Osamu

For

For

3.2 Elect Director Harayama, Yasuhito

For

For

3.3 Elect Director Suzuki, Toshihiro

For

For

3.4 Elect Director Nagao, Masahiko

For

For

3.5 Elect Director Matsura, Hiroaki

For

For

3.6 Elect Director Honda, Osamu

For

For

3.7 Elect Director Iguchi, Masakazu

For

For

3.8 Elect Director Tanino, Sakutaro

For

Against

For

For

4 Approve Annual Bonus

325

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Synergy, Co PJSC

Meeting Date Country

26/06/2017 Russia

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Compensation Ceilings for Directors and Statutory Auditors

For

For

6 Approve Equity Compensation Plan

For

Against

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Omission of Dividends

For

For

4.1 Elect Nikolay Belokopytov as Director

None

Against

Votes to favour our preferred candidates

4.2 Elect Grigory Vasilenko as Director

None

Against

Votes to favour our preferred candidates

4.3 Elect Andrey Gomzyakov as Director

None

For

Votes to favour our preferred candidates

4.4 Elect Valentin Zavadnikov as Director

None

For

Votes to favour our preferred candidates

4.5 Elect Sergey Kuptsov as Director

None

Against

Votes to favour our preferred candidates

4.6 Elect Nikolay Malashenko as Director

None

Against

Votes to favour our preferred candidates

4.7 Elect Aleksandr Mechetin as Director

None

Against

Votes to favour our preferred candidates

4.8 Elect Sergey Molchanov as Director

None

Against

Votes to favour our preferred candidates

4.9 Elect Dmitry Timoshin as Director

None

Against

Votes to favour our preferred candidates

5.1 Elect Andrey Anokhov as Member of Audit Commission

For

Against

Votes to favour our preferred candidates

5.2 Elect Leonid Grabeltsev as Member of Audit Commission

For

Against

Votes to favour our preferred candidates

5.3 Elect Igor Dmitriev as Member of Audit Commission

For

For

Votes to favour our preferred candidates

5.4 Elect Anna Ivanova as Member of Audit Commission

For

Do Not Vote

Votes to favour our preferred candidates

Concerns about linkage between pay and performance

Elect Seven Directors by Cumulative Voting

Elect Three Members of Audit Commission

6 Ratify Baker Tilly Rusaudit as Auditor

Synnex Technology International Corp.

Sysmex Corp

326

07/06/2017 Taiwan

23/06/2017 Japan

Annual

Annual

For

For

7 Amend Charter Re: Change of Legal Address and Company Name to For Beluga Group PJSC

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Other Business

None

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 30

For

For

2.1 Elect Director Ietsugu, Hisashi

For

For

2.2 Elect Director Nakajima, Yukio

For

For

2.3 Elect Director Asano, Kaoru

For

For

Substance of resolution unclear at time of voting

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.4 Elect Director Tachibana, Kenji

T&D HOLDINGS INC.

Taiheiyo Cement Corp.

28/06/2017 Japan

29/06/2017 Japan

Annual

Annual

Vote Instruction Voter Rationale

For

For

2.5 Elect Director Obe, Kazuya

For

For

2.6 Elect Director Watanabe, Mitsuru

For

For

2.7 Elect Director Yamamoto, Junzo

For

For

2.8 Elect Director Nishiura, Susumu

For

For

2.9 Elect Director Takahashi, Masayo

For

For

For

For

2.1 Elect Director Kida, Tetsuhiro

1 Approve Allocation of Income, with a Final Dividend of JPY 17.5

For

For

2.2 Elect Director Uehara, Hirohisa

For

For

2.3 Elect Director Yokoyama, Terunori

For

For

2.4 Elect Director Matsuyama, Haruka

For

For

2.5 Elect Director Ogo, Naoki

For

For

2.6 Elect Director Tanaka, Katsuhide

For

For

2.7 Elect Director Kudo, Minoru

For

For

2.8 Elect Director Itasaka, Masafumi

For

For

3.1 Appoint Statutory Auditor Yanai, Junichi

For

For

3.2 Appoint Statutory Auditor Ozawa, Yuichi

For

For

4 Appoint Alternate Statutory Auditor Ezaki, Masayuki

For

For

5 Approve Compensation Ceiling for Directors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 3

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Fukuda, Shuji

For

For

3.2 Elect Director Kitabayashi, Yuichi

For

For

3.3 Elect Director Matsushima, Shigeru

For

For

3.4 Elect Director Fushihara, Masafumi

For

For

3.5 Elect Director Funakubo, Yoichi

For

For

3.6 Elect Director Miura, Keiichi

For

For

3.7 Elect Director Karino, Masahiro

For

For

3.8 Elect Director Ando, Kunihiro

For

For

3.9 Elect Director Egami, Ichiro

327

Mgmt Rec

For

For

3.10 Elect Director Sakamoto, Tomoya

For

For

3.11 Elect Director Fukuhara, Katsuhide

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Taisei Corp.

Taishin Financial Holding Co., Ltd.

Taisho Pharmaceutical Holdings Co., Ltd.

Meeting Date Country

29/06/2017 Japan

16/06/2017 Taiwan

29/06/2017 Japan

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.12 Elect Director Koizumi, Yoshiko

For

For

3.13 Elect Director Arima, Yuzo

For

For

4 Appoint Statutory Auditor Nishimura, Toshihide

For

For

5 Appoint Alternate Statutory Auditor Mitani, Wakako

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 12

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

3.1 Elect Director Yamauchi, Takashi

For

For

3.2 Elect Director Murata, Yoshiyuki

For

For

3.3 Elect Director Dai, Kazuhiko

For

For

3.4 Elect Director Sakurai, Shigeyuki

For

For

3.5 Elect Director Sakai, Masahiro

For

For

3.6 Elect Director Tanaka, Shigeyoshi

For

For

3.7 Elect Director Yaguchi, Norihiko

For

For

3.8 Elect Director Yoshinari, Yasushi

For

For

3.9 Elect Director Tsuji, Toru

For

For

3.10 Elect Director Sudo, Fumio

For

For

3.11 Elect Director Nishimura, Atsuko

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Approve Amendments to Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 60

For

For

For

Against

2.1 Elect Director Uehara, Akira

328

2.2 Elect Director Uehara, Shigeru

For

For

2.3 Elect Director Ohira, Akira

For

For

2.4 Elect Director Uehara, Ken

For

For

2.5 Elect Director Fujita, Kenichi

For

For

2.6 Elect Director Kameo, Kazuya

For

For

2.7 Elect Director Watanabe, Tetsu

For

For

2.8 Elect Director Morikawa, Toshio

For

For

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Amendments to Articles of Association

For

For

6 Approve Release of Restrictions of Competitive Activities of Directors and Representatives

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Elect Sheng Chin Jen with ID No.S120151XXX as Independent Director

For

For

5 Approve Release of Restrictions of Competitive Activities of Directors

For

For

6 Other Business

None

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve the Issuance of New Shares by Capitalization of Profit

For

For

4 Amend Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6.1 Elect Huang Ming Shenq with ID No. L121229XXX as Independent Director

For

For

Votes to favour our preferred candidates

6.2 Elect Lin Hsuan Chu with ID No. E122270XXX as Independent Director

For

For

Votes to favour our preferred candidates

6.3 Elect Hsien Yin Ching with ID No. A122644XXX as Independent Director

For

For

Votes to favour our preferred candidates

6.4 Elect Chen Tzu Chun with ID No. N222741XXX as Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

6.5 Elect Chen Chih Ching with ID No. M101539XXX as Independent Director

For

Do Not Vote

Votes to favour our preferred candidates

2.9 Elect Director Uemura, Hiroyuki Taiwan Business Bank

Taiwan Cement Corp.

16/06/2017 Taiwan

28/06/2017 Taiwan

Annual

Annual

ELECT INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

Taiwan Cooperative Financial Holding Co.,Ltd.

16/06/2017 Taiwan

Annual

ELECT NON-INDEPENDENT DIRECTORS AND 3 AMONG 5 INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

329

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Taiwan FamilyMart Co., Ltd.

330

Meeting Date Country

16/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

6.6 Elect Liao Chan Chang, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.7 Elect Lin Shi Lang, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.8 Elect Shi Zun Hua, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.9 Elect Chen Xian Zhuo, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.10 Elect Wu Zong Pan, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.11 Elect Fu Zheng Hua, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.12 Elect Lin Xiang Kai, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.13 Elect Xie Ling Yuan, Representative of Ministry of Finance with Shareholder No. 10000 as Non-Independent Director

None

Against

Concerns about overall board structure

6.14 Elect Guo Guo Cheng, Representative of Huanan Commercial Bank Co., Ltd with Shareholder No. 16020 as Non-Independent Director

None

Against

Concerns about overall board structure

6.15 Elect Guo Wen Jin, Representative of Taiwan Jinlian Asset Management Co., Ltd with Shareholder No. 941149 as Non-Independent Director

None

Against

Concerns about overall board structure

6.16 Elect Mai Sheng Gang, Representative of National Federation of Credit Co-operations ROC with Shareholder No. 11045 as Non- Independent Director

None

Against

Concerns about overall board structure

6.17 Elect Zheng Mu Qin, Representative of Taiwan Cooperative Bank with Shareholder No. 11046 as Non-Independent Director

None

Against

Concerns about overall board structure

6.18 Elect Xiao Jing Tian, Representative of Republic of China Peasant Association as Non-Independent Director

None

Against

Concerns about overall board structure

6.19 Elect Zhang Yong Cheng, Representative of Republic of China Peasant Association as Non-Independent Director

None

Against

Concerns about overall board structure

6.20 Elect You Wen Xiong, Representative of Republic of China Peasant Association as Non-Independent Director

None

Against

Concerns about overall board structure

6.21 Elect Chen Rui Xiong, Representative of Republic of China Peasant Association as Non-Independent Director

None

Against

Concerns about overall board structure

7 Approve Release of Restrictions of Competitive Activities of Newly Appointed Directors and Representatives

For

Against

Concerns to protect shareholder interests

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Taiwan Fertilizer Co., Ltd.

Taiwan Mobile Co., Ltd.

Meeting Date Country

14/06/2017 Taiwan

14/06/2017 Taiwan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3 Approve Amendments to Articles of Association

For

For

4 Amend Rules and Procedures Regarding Shareholder's General Meeting

For

For

5 Amend Rules and Procedures for Election of Directors

For

For

6 Amend Procedures Governing the Acquisition or Disposal of Assets

For

Against

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Statement of Profit and Loss Appropriation

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Amendment to Rules and Procedures for Election of Directors and Supervisors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Approve Cash Distribution from Capital Reserve

For

For

4 Amend Articles of Association

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6.1 Elect Daniel M. Tsai, Representative of Fu-Chi Investment Co., Ltd with Shareholder No. 515 as Non-Independent Director

For

For

6.2 Elect Richard M. Tsai, Representative of Fu-Chi Investment Co., Ltd with Shareholder No. 515 as Non-Independent Director

For

For

6.3 Elect San-Cheng Chang, Representative of Fu-Chi Investment Co., Ltd with Shareholder No. 515 as Non-Independent Director

For

For

6.4 Elect Howard Lin, Representative of TCC Investment Co., Ltd with Shareholder No. 172339 as Non-Independent Director

For

For

6.5 Elect James Jeng, Representative of TCC Investment Co., Ltd with Shareholder No. 172939 as Non-Independent Director

For

For

6.6 Elect Jck J.T. Huang with ID No. A100320XXX as Independent Director

For

For

6.7 Elect Hsueh-Jen Sung with ID No. R102960XXX as Independent Director

For

For

6.8 Elect Chung-Ming Kuan with ID No. A123813XXX as Independent Director

For

For

6.9 Elect Char-Dir Chung with ID No. B120667XXX as Independent Director

For

For

Concerns to protect shareholder interests

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

331

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Taiwan Semiconductor Manufacturing Co., Ltd.

Meeting Date Country

08/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Release of Restrictions of Competitive Activities of Newly Appointed Director and Representative, Richard M. Tsai

For

For

8 Approve Release of Restrictions of Competitive Activities of Newly Appointed Director and Representative, Howard Lin

For

For

9 Approve Release of Restrictions of Competitive Activities of Newly Appointed Director and Representative, James Jeng

For

For

10 Approve Release of Restrictions of Competitive Activities of Newly Appointed Director and Representative, Jack J.T. Huang

For

For

11 Approve Release of Restrictions of Competitive Activities of Newly Appointed Director and Representative, Hsueh-Jen Sung

For

For

1.1 Approve Business Operations Report and Financial Statements

For

For

1.2 Approve Profit Distribution

For

For

1.3 Amend Articles of Association

For

For

1.4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

2.1 Elect Mark Liu with Shareholder No. 10758 as Non-Independent Director

For

For

2.2 Elect C.C. Wei with Shareholder No. 370885 as Non-Independent Director

For

For

None

For

For

For

ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

3 Other Business Meeting for ADR Holders 1.1 Approve Business Operations Report and Financial Statements 1.2 Approve Profit Distribution

For

For

1.3 Amend Articles of Association

For

For

1.4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

2.1 Elect Mark Liu with Shareholder No. 10758 as Non-Independent Director

For

For

2.2 Elect C.C. Wei with Shareholder No. 370885 as Non-Independent Director

For

For

For

For

ELECT NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

Taiyo Nippon Sanso Corp.

332

20/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 11 2.1 Elect Director Yoshimura, Shotaro

For

For

2.2 Elect Director Hazama, Kunishi

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.3 Elect Director Ichihara, Yujiro

Takeda Pharmaceutical Co. Ltd.

Target Corporation

333

28/06/2017 Japan

14/06/2017 USA

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

2.4 Elect Director Amada, Shigeru

For

For

2.5 Elect Director Yamada, Akio

For

For

2.6 Elect Director Katsumaru, Mitsuhiro

For

For

2.7 Elect Director Yoshimura, Shushichi

For

For

3.1 Appoint Statutory Auditor Mizunoe, Kinji

For

For

3.2 Appoint Statutory Auditor Hashimoto, Akihiro

For

Against

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 90 2.1 Elect Director Christophe Weber

For

For

2.2 Elect Director Iwasaki, Masato

For

For

2.3 Elect Director Andrew Plump

For

For

2.4 Elect Director James Kehoe

For

For

2.5 Elect Director Fujimori, Yoshiaki

For

For

2.6 Elect Director Higashi, Emiko

For

For

2.7 Elect Director Michel Orsinger

For

For

2.8 Elect Director Sakane, Masahiro

For

For

2.9 Elect Director Shiga, Toshiyuki

For

For

3 Approve Annual Bonus

For

For

4 Amend Articles to Add Provisions Prohibiting Appointment of Corporate Counselors or Advisors Who Will Give Advice to Representative Directors

Against

For

5 Remove Director and Chairman Yasuchika Hasegawa from Office

Against

Against

1a Elect Director Roxanne S. Austin

For

For

1b Elect Director Douglas M. Baker, Jr.

For

For

1c Elect Director Brian C. Cornell

For

For

1d Elect Director Calvin Darden

For

For

1e Elect Director Henrique De Castro

For

For

1f Elect Director Robert L. Edwards

For

For

1g Elect Director Melanie L. Healey

For

For

1h Elect Director Donald R. Knauss

For

For

1i Elect Director Monica C. Lozano

For

For For

1j Elect Director Mary E. Minnick

For

1k Elect Director Derica W. Rice

For

For

1l Elect Director Kenneth L. Salazar

For

For

Concerns about independence

Proposal encourages enhanced accountability

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Tarsus Group plc

Tata Consultancy Services Ltd.

334

Meeting Date Country

21/06/2017 Jersey

16/06/2017 India

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2 Ratify Ernst & Young LLP as Auditors

For

Against

Concerns about auditor independence

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

Concerns about linkage between pay and performance

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Approve Executive Incentive Bonus Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Approve Final Dividend

For

For

4 Re-elect Neville Buch as Director

For

For

5 Re-elect Douglas Emslie as Director

For

For

6 Re-elect Daniel O'Brien as Director

For

For

7 Re-elect David Gilbertson as Director

For

For

8 Re-elect Robert Ware as Director

For

For

9 Re-elect Tim Haywood as Director

For

For

10 Reappoint Deloitte LLP as Auditors

For

For

11 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

12 Authorise Issue of Equity with Pre-emptive Rights

For

For

13 Authorise Company to Hold Shares which it has Repurchased as Treasury Shares

For

For

14 Authorise Company to Execute Documents to Enable it to Hold Shares which it has Repurchased as Treasury Shares

For

For

15 Approve Increase in Authorised Share Capital and Amend Memorandum and Articles of Association

For

For

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Market Purchase of Ordinary Shares

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Confirm Interim Dividend and Declare Final Dividend

For

For

3 Reelect Aarthi Subramanian as Director

For

For

4 Approve B S R & Co. LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Elect N. Chandrasekaran as Director

For

For

6 Elect Rajesh Gopinathan as Director

For

For

7 Approve Appointment and Remuneration of Rajesh Gopinathan as Managing Director and Chief Executive Officer

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Elect N. Ganapathy Subramaniam as Director

For

For

9 Approve Appointment and Remuneration of N. Ganapathy Subramaniam as Executive Director and Chief Operating Officer

For

For

For

For

1 Approve Annual Report

For

For

2 Approve Financial Statements

For

For

3 Approve Allocation of Income and Dividends

For

For

4.1 Elect Radik Gaizatullin as Director

None

Against

Votes to favour our preferred candidates

4.2 Elect Laszlo Gerecs as Director

None

For

Votes to favour our preferred candidates

4.3 Elect Nail Ibragimov as Director

None

Against

Votes to favour our preferred candidates

4.4 Elect Yuri Levin as Director

None

Against

Votes to favour our preferred candidates

4.5 Elect Nail Maganov as Director

None

Against

Votes to favour our preferred candidates

4.6 Elect Renat Muslimov as Director

None

Against

Votes to favour our preferred candidates

4.7 Elect Rafail Nurmukhametov as Director

None

Against

Votes to favour our preferred candidates

4.8 Elect Renat Sabirov as Director

None

Against

Votes to favour our preferred candidates

4.9 Elect Valery Sorokin as Director

None

Against

Votes to favour our preferred candidates

None

Against

Votes to favour our preferred candidates

10 Approve Branch Auditors and Authorize Board to Fix Their Remuneration Tatneft PJSC

23/06/2017 Russia

Annual

Meeting for ADR Holders

Elect 14 Directors by Cumulative Voting

4.10 Elect Shafagat Takhautdinov as Director 4.11 Elect Rustam Khalimov as Director

None

Against

Votes to favour our preferred candidates

4.12 Elect Azat Khamaev as Director

None

Against

Votes to favour our preferred candidates

4.13 Elect Rais Khisamov as Director

None

Against

Votes to favour our preferred candidates

4.14 Elect Rene Steiner as Director

None

For

Votes to favour our preferred candidates

For

For

Elect Members of Audit Commission 5.1 Elect Kseniya Borzunova as Member of Audit Commission

335

5.2 Elect Ranilya Gizatova as Member of Audit Commission

For

For

5.3 Elect Gusel Gilfanova as Member of Audit Commission

For

For

5.4 Elect Venera Kuzmina as Member of Audit Commission

For

For

5.5 Elect Taskirya Nurakhmetova as Member of Audit Commission

For

For

5.6 Elect Liliya Rakhimzyanova as Member of Audit Commission

For

For

5.7 Elect Nazilya Farkhutdinova as Member of Audit Commission

For

For

5.8 Elect Ravil Sharifullin as Member of Audit Commission

For

For

6 Ratify AO PricewaterhouseCoopers as Auditor

For

For

7 Approve New Edition of Charter

For

Against

Concerns to protect shareholder interests aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

TBC Bank Group plc

TDK Corp.

Meeting Date Country

05/06/2017 United Kingdom

29/06/2017 Japan

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8 Approve New Edition of Regulations on General Meetings

For

For

9 Approve New Edition of Regulations on Board of Directors

For

For

10 Approve New Edition of Regulations on General Director

For

For

11 Approve New Edition of Regulations on Management

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Approve Final Dividend

For

For

5 Elect Mamuka Khazaradze as Director

For

For

6 Elect Badri Japaridze as Director

For

For

7 Elect Nikoloz Enukidze as Director

For

For

8 Elect Stefano Marsaglia as Director

For

For

9 Elect Nicholas Haag as Director

For

For

10 Elect Eric Rajendra as Director

For

For

11 Elect Stephan Wilcke as Director

For

For

12 Elect Vakhtang Butskhrikidze as Director

For

For

13 Elect Giorgi Shagidze as Director

For

For

14 Appoint PricewaterhouseCoopers LLP as Auditors

For

For

15 Authorise Board to Fix Remuneration of Auditors

For

For

16 Approve Scrip Dividend Scheme

For

For

17 Authorise Issue of Equity with Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights

For

For

19 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

20 Authorise Market Purchase of Ordinary Shares

For

For

21 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 60 2.1 Elect Director Kamigama, Takehiro

336

For

For

For

For

2.2 Elect Director Ishiguro, Shigenao

For

For

2.3 Elect Director Yamanishi, Tetsuji

For

For

2.4 Elect Director Osaka, Seiji

For

For

2.5 Elect Director Sumita, Makoto

For

For

2.6 Elect Director Yoshida, Kazumasa

For

For aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Tech Data Corporation

Ted Baker PLC

Teijin Ltd.

337

Meeting Date Country 07/06/2017 USA

13/06/2017 United Kingdom

22/06/2017 Japan

Meeting Type Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.7 Elect Director Ishimura, Kazuhiko

For

For

1a Elect Director Charles E. Adair

For

Against

1b Elect Director Karen M. Dahut

For

For

1c Elect Director Robert M. Dutkowsky

For

For

1d Elect Director Harry J. Harczak, Jr.

For

For

1e Elect Director Bridgette P. Heller

For

For

1f Elect Director Kathleen Misunas

For

Against

1g Elect Director Thomas I. Morgan

For

For

1h Elect Director Patrick G. Sayer

For

For

1i Elect Director Savio W. Tung

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Amend Executive Incentive Bonus Plan

For

For

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect Raymond Kelvin as Director

For

For

6 Re-elect Lindsay Page as Director

For

For

7 Re-elect David Bernstein as Director

For

For

8 Re-elect Ronald Stewart as Director

For

For

9 Re-elect Anne Sheinfield as Director

For

For

10 Re-elect Andrew Jennings as Director

For

For

11 Reappoint KPMG LLP as Auditors

For

Abstain

12 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

16 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1.1 Elect Director Oyagi, Shigeo

For

For

Concerns about overall board structure

Concerns about overall board structure

Concerns about linkage between pay and performance

Concerns about auditor independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.2 Elect Director Suzuki, Jun

08/06/2017 Spain

Annual

338

29/06/2017 Hong Kong

Annual

For

For

1.3 Elect Director Yamamoto, Kazuhiro

For

For

For

For

1.5 Elect Director Takesue, Yasumichi

For

For

1.6 Elect Director Sonobe, Yoshihisa

For

For

1.7 Elect Director Iimura, Yutaka

For

For

1.8 Elect Director Seki, Nobuo

For

For

1.9 Elect Director Seno, Kenichiro

For

For

1.10 Elect Director Otsubo, Fumio

For

For

For

For

1.1 Approve Consolidated and Standalone Financial Statements

For

For

1.2 Approve Discharge of Board

For

For

2 Approve Allocation of Income

Television Broadcasts Ltd.

Vote Instruction Voter Rationale

1.4 Elect Director Uno, Hiroshi

2 Appoint Statutory Auditor Nakayama, Hitomi Telefonica S.A.

Mgmt Rec

For

For

3.1 Reelect Jose Maria Alvarez-Pallete Lopez as Director

For

For

3.2 Reelect Ignacio Moreno Martinez as Director

For

Against

3.3 Ratify Appointment of and Elect Francisco Jose Riberas Mera as Director

For

For

3.4 Ratify Appointment of and Elect Carmen Garcia de Andres as Director

For

For

4 Fix Number of Directors at 17

For

For

5 Approve Dividends Charged to Unrestricted Reserves

For

For

6 Authorize Issuance of Non-Convertible and/or Convertible For Bonds, Debentures, Warrants, and Other Debt Securities up to EUR 25 Billion with Exclusion of Preemptive Rights up to 20 Percent of Capital

Against

7 Authorize Board to Ratify and Execute Approved Resolutions

For

For

8 Advisory Vote on Remuneration Report

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Elect Li Ruigang as Director

For

For

3 Elect Charles Chan Kwok Keung as Director

For

For

4 Approve Vice Chairman's Fee

For

For

5 Approve Increase in Director's Fee

For

For

6 Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration

For

For

Concerns about overall board structure

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

8 Approve Extension of Book Close Period from 30 Days to 60 Days

For

For

9 Adopt Share Option Scheme and Related Transactions

For

Against

Concerns about linkage between pay and performance

For

Against

Concerns about linkage between pay and performance

10 Adopt Subsidiary Share Option Scheme of TVB Pay Vision Holdings Limited and Related Transactions Terumo Corp.

27/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 22 2.1 Elect Director Mimura, Takayoshi

Tesco PLC

339

16/06/2017 United Kingdom

Annual

For

For

For

For

2.2 Elect Director Sato, Shinjiro

For

For

2.3 Elect Director Takagi, Toshiaki

For

For

2.4 Elect Director Hatano, Shoji

For

For

2.5 Elect Director Arase, Hideo

For

For

2.6 Elect Director David Perez

For

For

2.7 Elect Director Mori, Ikuo

For

For

2.8 Elect Director Ueda, Ryuzo

For

For

3.1 Elect Director and Audit Committee Member Kimura, Yoshihiro

For

For

3.2 Elect Director and Audit Committee Member Matsumiya, Toshihiko For

For

3.3 Elect Director and Audit Committee Member Yone, Masatake

For

For

4 Elect Alternate Director and Audit Committee Member Sakaguchi, Koichi

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Elect Steve Golsby as Director

For

For

4 Re-elect John Allan as Director

For

For

5 Re-elect Dave Lewis as Director

For

For

6 Re-elect Mark Armour as Director

For

For

7 Re-elect Byron Grote as Director

For

For

8 Re-elect Mikael Olsson as Director

For

For

9 Re-elect Deanna Oppenheimer as Director

For

For

10 Re-elect Simon Patterson as Director

For

For

11 Re-elect Alison Platt as Director

For

For

12 Re-elect Lindsey Pownall as Director

For

For

13 Re-elect Alan Stewart as Director

For

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

The Gym Group plc

The Hong Kong and China Gas Co. Ltd.

Meeting Date Country

06/06/2017 United Kingdom

07/06/2017 Hong Kong

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

14 Reappoint Deloitte LLP as Auditors

For

For

15 Authorise Board to Fix Remuneration of Auditors

For

For

16 Authorise Issue of Equity with Pre-emptive Rights

For

For

17 Authorise Issue of Equity without Pre-emptive Rights

For

For

18 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

19 Authorise Market Purchase of Ordinary Shares

For

For

20 Authorise EU Political Donations and Expenditure

For

For

21 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Final Dividend

For

For

4 Re-elect Penny Hughes as Director

For

For

5 Re-elect Paul Gilbert as Director

For

For

6 Re-elect John Treharne as Director

For

For

7 Re-elect Richard Darwin as Director

For

For

8 Elect David Kelly as Director

For

For

9 Elect Emma Woods as Director

For

For

10 Reappoint Ernst & Young LLP as Auditors

For

For

11 Authorise the Audit and Risk Committee to Fix Remuneration of Auditors

For

For

12 Authorise EU Political Donations and Expenditure

For

For

13 Authorise Issue of Equity with Pre-emptive Rights

For

For

14 Authorise Issue of Equity without Pre-emptive Rights

For

For

15 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

16 Authorise Market Purchase of Ordinary Shares

For

For

17 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

For

For

1 Accept Financial Statements and Statutory Reports 2 Approve Final Dividend 3.1 Elect Peter Wong Wai Yee as Director

340

For

For

For

For

3.2 Elect Lee Ka Kit as Director

For

For

3.3 Elect David Li Kwok Po as Director

For

Against

Concerns about candidate

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve Remuneration of Directors and Additional Fee for the Chairman of the Board

For

For

5 Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration

For

For

For

For

6.1 Approve the Issuance of Bonus Shares

The Kroger Co.

The Macerich Company

341

22/06/2017 USA

01/06/2017 USA

Annual

Annual

6.2 Authorize Repurchase of Issued Share Capital

For

For

6.3 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

6.4 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

1a Elect Director Nora A. Aufreiter

For

For

1b Elect Director Robert D. Beyer

For

Against

1c Elect Director Anne Gates

For

For

1d Elect Director Susan J. Kropf

For

For

1e Elect Director W. Rodney McMullen

For

For

1f Elect Director Jorge P. Montoya

For

For

1g Elect Director Clyde R. Moore

For

Against

1h Elect Director James A. Runde

For

For

1i Elect Director Ronald L. Sargent

For

For

1j Elect Director Bobby S. Shackouls

For

Against

1k Elect Director Mark S. Sutton

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

Concerns about overall board structure

Concerns about overall board structure

Concerns about overall board structure Concerns about linkage between pay and performance

4 Ratify PricewaterhouseCoopers LLP as Auditors

For

Against

Concerns about auditor independence

5 Assess Environmental Impact of Non-Recyclable Packaging

Against

For

Proposal encourages enhanced environmental approach

6 Assess Benefits of Adopting Renewable Energy Goals

Against

For

Proposal encourages enhanced environmental approach

7 Adopt Policy and Plan to Eliminate Deforestation in Supply Chain

Against

For

Proposal encourages enhanced environmental approach

8 Require Independent Board Chairman

Proposal enhances board structure

Against

For

1a Elect Director John H. Alschuler

For

For

1b Elect Director Arthur M. Coppola

For

For

1c Elect Director Edward C. Coppola

For

For

1d Elect Director Steven R. Hash

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

The North American Income Trust plc

The People's Insurance Company (Group) Of China Ltd.

342

Meeting Date Country

12/06/2017 United Kingdom

23/06/2017 China

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1e Elect Director Fred S. Hubbell

For

Against

1f Elect Director Diana M. Laing

For

For

1g Elect Director Mason G. Ross

For

Against

1h Elect Director Steven L. Soboroff

For

For

1i Elect Director Andrea M. Stephen

For

For

1j Elect Director John M. Sullivan

For

For

2 Ratify KPMG LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

5 Re-elect James Ferguson as Director

For

For

6 Re-elect Guy Crawford as Director

For

For

7 Re-elect Archie Hunter as Director

For

For

8 Re-elect Susan Rice as Director

For

For

9 Reappoint KPMG LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Final Financial Accounts

For

For

4 Approve 2016 Profit Distribution Plan

For

For

5 Approve 2017 Fixed Assets Investment Budget

For

For

6 Approve Deloitte Touche Tohmatsu Certified Public Accountants LLP/Deloitte Touche Tohmatsu as Domestic and International Auditor

For

For

7 Elect Miao Jianmin as Director

For

For

8 Elect Wang Qingjian as Director

For

For

Concerns about overall board structure Concerns about overall board structure

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 9 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

The Priceline Group Inc.

The TJX Companies, Inc.

343

08/06/2017 USA

06/06/2017 USA

Annual

Annual

1.1 Elect Director Timothy M. Armstrong

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

For

For

1.2 Elect Director Jeffery H. Boyd

For

For

1.3 Elect Director Jan L. Docter

For

For

1.4 Elect Director Jeffrey E. Epstein

For

For

1.5 Elect Director Glenn D. Fogel

For

For

1.6 Elect Director James M. Guyette

For

For

1.7 Elect Director Robert J. Mylod, Jr.

For

For

1.8 Elect Director Charles H. Noski

For

For

1.9 Elect Director Nancy B. Peretsman

For

For

1.10 Elect Director Thomas E. Rothman

For

For

1.11 Elect Director Craig W. Rydin

For

For

1.12 Elect Director Lynn M. Vojvodich

For

For

2 Ratify Deloitte & Touche LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Reduce Ownership Threshold for Shareholders to Call Special Meeting

Against

For

1.1 Elect Director Zein Abdalla

For

For

1.2 Elect Director Jose B. Alvarez

For

For

1.3 Elect Director Alan M. Bennett

For

For

1.4 Elect Director David T. Ching

For

For

1.5 Elect Director Ernie Herrman

For

For

1.6 Elect Director Michael F. Hines

For

For

1.7 Elect Director Amy B. Lane

For

For

1.8 Elect Director Carol Meyrowitz

For

For

1.9 Elect Director Jackwyn L. Nemerov

For

For

Concerns to protect shareholder interests

Concerns about linkage between pay and performance Proposal enhances board accountability

1.10 Elect Director John F. O'Brien

For

Against

Concerns about overall board structure

1.11 Elect Director Willow B. Shire

For

Against

Concerns about overall board structure

2 Ratify PricewaterhouseCoopers as Auditors

For

For

3 Amend Omnibus Stock Plan

For

For

4 Amend Executive Incentive Bonus Plan

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

THK Co. Ltd.

Time Warner Inc.

Tingyi (Cayman Islands) Holding Corp.

344

Meeting Date Country

17/06/2017 Japan

15/06/2017 USA

28/06/2017 Cayman Islands

Meeting Type

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Advisory Vote to Ratify Named Executive Officers' Compensation

For

For

6 Advisory Vote on Say on Pay Frequency

One Year

One Year

7 Include Diversity as a Performance Metric

Against

Against

8 Report on Pay Disparity

Against

Against

9 Report on Gender, Race, or Ethnicity Pay Gap

Against

Against

10 Report on Net-Zero Greenhouse Gas Emissions

Against

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 25

For

For

2 Amend Articles to Change Location of Head Office - Change Fiscal Year End

For

For

3.1 Elect Director Teramachi, Akihiro

For

For

3.2 Elect Director Teramachi, Toshihiro

For

For

3.3 Elect Director Imano, Hiroshi

For

For

3.4 Elect Director Maki, Nobuyuki

For

For

3.5 Elect Director Teramachi, Takashi

For

For

3.6 Elect Director Shimomaki, Junji

For

For

3.7 Elect Director Sakai, Junichi

For

For

3.8 Elect Director Kainosho, Masaaki

For

For

1a Elect Director William P. Barr

For

For

1b Elect Director Jeffrey L. Bewkes

For

For

1c Elect Director Robert C. Clark

For

For

1d Elect Director Mathias Dopfner

For

For

1e Elect Director Jessica P. Einhorn

For

For

1f Elect Director Carlos M. Gutierrez

For

For

1g Elect Director Fred Hassan

For

For

1h Elect Director Paul D. Wachter

For

For

1i Elect Director Deborah C. Wright

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Elect Junichiro Ida as Director and Authorize Board to Fix His Remuneration

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

TIS Inc.

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Elect Wu Chung-Yi as Director and Authorize Board to Fix His Remuneration

For

For

5 Elect Hiromu Fukada as Director and Authorize Board to Fix His Remuneration

For

For

6 Approve Mazars CPA Limited as Auditors and Authorize Board to Fix For Their Remuneration

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

8 Authorize Repurchase of Issued Share Capital

For

For

9 Authorize Reissuance of Repurchased Shares

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 24

For

For

For

For

2.1 Elect Director Maenishi, Norio 2.2 Elect Director Kuwano, Toru

For

For

2.3 Elect Director Nishida, Mitsushi

For

For

2.4 Elect Director Yanai, Josaku

For

For

2.5 Elect Director Kanaoka, Katsuki

For

For

2.6 Elect Director Kusaka, Shigeki

For

For

2.7 Elect Director Suzuki, Yoshiyuki

For

For

2.8 Elect Director Ishigaki, Yoshinobu

For

For

2.9 Elect Director Sano, Koichi

For

For

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

2.10 Elect Director Tsuchiya, Fumio Tobu Railway Co. Ltd.

345

23/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 3.5

3.1 Elect Director Nezu, Yoshizumi

For

For

3.2 Elect Director Tsunoda, Kenichi

For

For

3.3 Elect Director Makino, Osamu

For

For

3.4 Elect Director Inomori, Shinji

For

For

3.5 Elect Director Miwa, Hiroaki

For

For

3.6 Elect Director Ojiro, Akihiro

For

For

3.7 Elect Director Okuma, Yasuyoshi

For

For

3.8 Elect Director Tsuzuki, Yutaka

For

For

3.9 Elect Director Yokota, Yoshimi

For

For

3.10 Elect Director Sekiguchi, Koichi

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Toho Gas Co. Ltd.

Meeting Date Country

27/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.11 Elect Director Onodera, Toshiaki

For

For

3.12 Elect Director Otsuka, Hiroya

For

For

3.13 Elect Director Yagasaki, Noriko

For

For

3.14 Elect Director Nomoto, Hirofumi

For

For

3.15 Elect Director Kobiyama, Takashi

For

For

3.16 Elect Director Yamamoto, Tsutomu

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Connection with Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5

3.1 Elect Director Yasui, Koichi

Tohoku Electric Power Co. Inc.

28/06/2017 Japan

Annual

For

3.2 Elect Director Tominari, Yoshiro

For

For

3.3 Elect Director Nakamura, Osamu

For

For

3.4 Elect Director Niwa, Shinji

For

For

3.5 Elect Director Hayashi, Takayasu

For

For

3.6 Elect Director Ito, Katsuhiko

For

For

3.7 Elect Director Kodama, Mitsuhiro

For

For

3.8 Elect Director Saeki, Takashi

For

For

3.9 Elect Director Miyahara, Koji

For

For

3.10 Elect Director Hattori, Tetsuo

For

For

4 Appoint Statutory Auditor Koyama, Norikazu

For

For

5 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 20

For

For

2.1 Elect Director Kaiwa, Makoto

For

For

2.2 Elect Director Harada, Hiroya

For

For

2.3 Elect Director Sakamoto, Mitsuhiro

For

For

2.4 Elect Director Watanabe, Takao

For

For

2.5 Elect Director Okanobu, Shinichi

For

For

2.6 Elect Director Tanae, Hiroshi

For

For

2.7 Elect Director Hasegawa, Noboru

For

For

2.8 Elect Director Yamamoto, Shunji

For

For

2.9 Elect Director Miura, Naoto

For

For

For

For

2.10 Elect Director Nakano, Haruyuki

346

For

2.11 Elect Director Masuko, Jiro

For

For

2.12 Elect Director Higuchi, Kojiro

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Tokio Marine Holdings, Inc.

Meeting Date Country

26/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

2.13 Elect Director Abe, Toshinori

For

For

2.14 Elect Director Seino, Satoshi

For

For

2.15 Elect Director Kondo, Shiro

For

For

3 Amend Articles to Withdraw from Nuclear Power Generation and Promote Renewable Energy

Against

Against

4 Amend Articles to Decommission Onagawa Nuclear Power Station

Against

Against

5 Amend Articles to Withdraw from Nuclear Fuel Recycling Business

Against

Against

6 Amend Articles to Add Provisions on Responsible Management of Spent Nuclear Fuels

Against

Against

7 Amend Articles to Add Provisions on Priority Grid Access for Renewable Energy

Against

Against

1 Approve Allocation of Income, With a Final Dividend of JPY 72.5 2.1 Elect Director Sumi, Shuzo

Tokyo Electric Power Co Holdings Inc.

347

23/06/2017 Japan

Annual

For

For

For

For

2.2 Elect Director Nagano, Tsuyoshi

For

For

2.3 Elect Director Fujii, Kunihiko

For

For

2.4 Elect Director Ishii, Ichiro

For

For

2.5 Elect Director Fujita, Hirokazu

For

For

2.6 Elect Director Yuasa, Takayuki

For

For

2.7 Elect Director Kitazawa, Toshifumi

For

For

2.8 Elect Director Mimura, Akio

For

For

2.9 Elect Director Sasaki, Mikio

For

For

2.10 Elect Director Egawa, Masako

For

For

2.11 Elect Director Iwasaki, Kenji

For

For

2.12 Elect Director Mitachi, Takashi

For

For

2.13 Elect Director Nakazato, Katsumi

For

For

1.1 Elect Director Annen, Junji

For

For

1.2 Elect Director Utsuda, Shoei

For

For

1.3 Elect Director Kaneko, Yoshinori

For

For

1.4 Elect Director Kawasaki, Toshihiro

For

For

1.5 Elect Director Kawamura, Takashi

For

For

1.6 Elect Director Kunii, Hideko

For

For

1.7 Elect Director Kobayakawa, Tomoaki

For

For

1.8 Elect Director Takaura, Hideo

For

For

1.9 Elect Director Taketani, Noriaki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.10 Elect Director Toyama, Kazuhiko

20/06/2017 Japan

Annual

For

For

1.11 Elect Director Nishiyama, Keita

For

For

For

For

1.13 Elect Director Moriya, Seiji

For

For

Against

For

3.1 Appoint Shareholder Director Nominee Murata, Haruki

Against

Against

3.2 Appoint Shareholder Director Nominee Higashikawa, Tadashi

Against

Against

4 Amend Articles to Dispose of TEPCO Power Grid, Inc

Against

Against

5 Amend Articles to Apply Impairment Accounting to KashiwazakiKariwa Nuclear Power Station

Against

Against

6 Amend Articles to Add Provisions on Reactor-Decommissioning Research Facilities

Against

Against

7 Amend Articles to Require Audit Committee to Be Composed Entirely of Outside Directors

Against

For

8 Amend Articles to Conclude Safety Agreements with Local Public Authorities Concerning Nuclear Accident Evacuation

Against

Against

9 Amend Articles to Add Provisions on Evacuation Drills with Nuclear Accident Scenario

Against

Against

10 Amend Articles to Establish Nuclear Disaster Recuperation Fund

Against

Against

11 Amend Articles to Provide Recuperation for Workers at Fukushima Nuclear Power Station

Against

Against

12 Amend Articles to Verify Soundness of Reactor Pressure Vessels at Kashiwazaki-Kariwa Nuclear Power Station

Against

Against

1.1 Elect Director Tsuneishi, Tetsuo

For

For

1.2 Elect Director Kawai, Toshiki

For

For

1.3 Elect Director Hori, Tetsuro

For

For

1.4 Elect Director Sasaki, Sadao

For

For

1.5 Elect Director Kitayama, Hirofumi

For

For

1.6 Elect Director Akimoto, Masami

For

For

1.7 Elect Director Chon, Gishi

For

For

1.8 Elect Director Nagakubo, Tatsuya

For

For

1.9 Elect Director Sunohara, Kiyoshi

348

Vote Instruction Voter Rationale

1.12 Elect Director Makino, Shigenori 2 Amend Articles to Resume Nuclear Power Generation Early to Reduce Carbon Dioxide Emission, while Maintaining Profitability

Tokyo Electron Ltd.

Mgmt Rec

For

For

1.10 Elect Director Higashi, Tetsuro

For

For

1.11 Elect Director Inoue, Hiroshi

For

For

Proposal encourages enhanced climate change approach

Proposal encourages enhanced committee structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 1.12 Elect Director Charles D Lake II

Tokyo Gas Co. Ltd.

29/06/2017 Japan

Annual

For

For For

2.3 Appoint Statutory Auditor Wagai, Kyosuke

For

For

3 Approve Annual Bonus

For

For

4 Approve Deep Discount Stock Option Plan

For

For

5 Approve Deep Discount Stock Option Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 5.5

For

For

2 Amend Articles to Indemnify Directors - Indemnify Statutory Auditors

For

For

3 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

For

For

4.2 Elect Director Hirose, Michiaki

For

For

4.3 Elect Director Uchida, Takashi

For

For

4.4 Elect Director Yasuoka, Satoru

For

For

4.5 Elect Director Murazeki, Fumio

For

For

4.6 Elect Director Takamatsu, Masaru

For

For

4.7 Elect Director Nohata, Kunio

For

For

4.8 Elect Director Anamizu, Takashi

For

For

4.11 Elect Director Igarashi, Chika

349

For

For

4.9 Elect Director Ide, Akihiko

Annual

For

2.1 Appoint Statutory Auditor Nunokawa, Yoshikazu

4.10 Elect Director Katori, Yoshinori

29/06/2017 Japan

Vote Instruction Voter Rationale

2.2 Appoint Statutory Auditor Yamamoto, Takatoshi

4.1 Elect Director Okamoto, Tsuyoshi

Tokyu Corp.

Mgmt Rec

For

For

For

For

For

For

5.1 Appoint Statutory Auditor Arai, Hideaki

For

For

5.2 Appoint Statutory Auditor Nobutoki, Masato

For

For

For

For

2 Approve Reverse Stock Split to Comply with Exchange Mandate and For Decrease Authorized Capital in Proportion to Reverse Stock Split

For

1 Approve Allocation of Income, with a Final Dividend of JPY 4.5

3.1 Elect Director Nomoto, Hirofumi

For

For

3.2 Elect Director Imamura, Toshio

For

For

3.3 Elect Director Tomoe, Masao

For

For

3.4 Elect Director Watanabe, Isao

For

For

3.5 Elect Director Takahashi, Kazuo

For

For

3.6 Elect Director Hoshino, Toshiyuki

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.7 Elect Director Ichiki, Toshiyuki

For

For

3.8 Elect Director Koshimura, Toshiaki

For

For

3.9 Elect Director Shiroishi, Fumiaki 3.10 Elect Director Kihara, Tsuneo

Tokyu Fudosan Holdings Corporation

28/06/2017 Japan

Annual

For For

3.11 Elect Director Fujiwara, Hirohisa

For

For

3.12 Elect Director Horie, Masahiro

For

For

3.13 Elect Director Hamana, Setsu

For

For

3.14 Elect Director Takahashi, Toshiyuki

For

For

3.15 Elect Director Nezu, Yoshizumi

For

For

3.16 Elect Director Konaga, Keiichi

For

For

3.17 Elect Director Kanazashi, Kiyoshi

For

For

3.18 Elect Director Kanise, Reiko

For

For

4 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 6.5

For

For

2.1 Elect Director Kanazashi, Kiyoshi

For

For

2.2 Elect Director Okuma, Yuji

For

For

2.3 Elect Director Sakaki, Shinji

For

For

2.4 Elect Director Uemura, Hitoshi

For

For

2.5 Elect Director Saiga, Katsuhide

For

For

2.6 Elect Director Kitagawa, Toshihiko

For

For

2.7 Elect Director Nishikawa, Hironori

For

For

2.8 Elect Director Ueki, Masatake

For

For

2.9 Elect Director Nomoto, Hirofumi

For

For

2.10 Elect Director Nakajima, Yoshihiro

For

For

2.11 Elect Director Iki, Koichi

For

For

2.12 Elect Director Tsuda, Noboru

For

For

2.13 Elect Director Enomoto, Takashi

For

For

3.1 Appoint Statutory Auditor Sumida, Ken

For

For

3.2 Appoint Statutory Auditor Hashizume, Masahiko

For

For

3.3 Appoint Statutory Auditor Asano, Tomoyasu

For

Against

3.4 Appoint Statutory Auditor Takechi, Katsunori

For

For

For

For

4 Appoint Alternate Statutory Auditor Kaiami, Makoto

350

For For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Tong Ren Tang Technologies Co., Ltd.

Toppan Forms Co Ltd. Toppan Printing Co. Ltd.

351

Meeting Date Country 12/06/2017 China

29/06/2017 Japan 29/06/2017 Japan

Meeting Type Annual

Annual Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Audited Consolidated Financial Statements

For

For

2 Approve Report of the Board of Directors

For

For

3 Approve Report of the Supervisory Committee

For

For

4 Approve Final Dividend

For

For

5 Approve PricewaterhouseCoopers as Overseas Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Approve PricewaterhouseCoopers Zhong Tian LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 12.5

For

For

2 Elect Director Soeda, Hideki

For

For

1.1 Elect Director Adachi, Naoki

For

Against

Holding executives accountable for ongoing poor returns

1.2 Elect Director Kaneko, Shingo

For

Against

Holding executives accountable for ongoing poor returns

1.3 Elect Director Nagayama, Yoshiyuki

For

For

1.4 Elect Director Maeda, Yukio

For

For

1.5 Elect Director Okubo, Shinichi

For

For

1.6 Elect Director Kakiya, Hidetaka

For

For

1.7 Elect Director Ito, Atsushi

For

For

1.8 Elect Director Arai, Makoto

For

For

1.9 Elect Director Maro, Hideharu

For

For

1.10 Elect Director Matsuda, Naoyuki

For

For

1.11 Elect Director Sato, Nobuaki

For

For

1.12 Elect Director Izawa, Taro

For

For

1.13 Elect Director Sakuma, Kunio

For

For

1.14 Elect Director Noma, Yoshinobu

For

For

1.15 Elect Director Toyama, Ryoko

For

For

1.16 Elect Director Ezaki, Sumio

For

For

1.17 Elect Director Yamano, Yasuhiko

For

For

1.18 Elect Director Ueki, Tetsuro

For

For

1.19 Elect Director Yamanaka, Norio

For

For

1.20 Elect Director Nakao, Mitsuhiro

For

For

Concerns to protect shareholder interests

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Toray Industries Inc.

Toshiba Corp.

Meeting Date Country 27/06/2017 Japan

28/06/2017 Japan

Meeting Type Annual

Annual

Proposal Number Proposal Text 1 Approve Allocation of Income, with a Final Dividend of JPY 7

27/06/2017 Japan

Annual

352

Annual

For

For

For

For

For

2.3 Elect Director Hirabayashi, Hideki

For

For

3 Appoint Statutory Auditor Masuda, Shogo

For

For

4 Appoint Alternate Statutory Auditor Kobayashi, Koichi

For

For

5 Approve Annual Bonus

For

For

1.1 Elect Director Tsunakawa, Satoshi

For

For

1.2 Elect Director Naruke, Yasuo

For

For

1.3 Elect Director Hirata, Masayoshi

For

For

1.4 Elect Director Noda, Teruko

For

For

1.5 Elect Director Ikeda, Koichi

For

For

1.6 Elect Director Furuta, Yuki

For

For

1.7 Elect Director Kobayashi, Yoshimitsu

For

For

1.8 Elect Director Sato, Ryoji

For

For

1.9 Elect Director Maeda, Shinzo

For

For

For

For

For

For

1.1 Elect Director Harimoto, Kunio 1.2 Elect Director Kitamura, Madoka

For

For

1.3 Elect Director Kiyota, Noriaki

For

For

1.4 Elect Director Morimura, Nozomu

For

For

1.5 Elect Director Abe, Soichi

For

For

1.6 Elect Director Narukiyo, Yuichi

For

For

1.7 Elect Director Hayashi, Ryosuke

For

For

1.8 Elect Director Sako, Kazuo

For

For

1.9 Elect Director Aso, Taiichi

01/06/2017 Cayman Islands

For

2.1 Elect Director Morimoto, Kazuo

1.10 Elect Director Shirakawa, Satoshi

Towngas China Co., Ltd.

Vote Instruction Voter Rationale

2.2 Elect Director Inoue, Osamu

2 Approve Transfer of Operations to Wholly Owned Subsidiary Toto Ltd.

Mgmt Rec

For

For

For

For

1.11 Elect Director Ogawa, Hiroki

For

For

1.12 Elect Director Masuda, Kazuhiko

For

For

1.13 Elect Director Shimono, Masatsugu

For

For

2.1 Appoint Statutory Auditor Naka, Hirotoshi

For

For

2.2 Appoint Statutory Auditor Katayanagi, Akira

For

Against

For

For

1 Accept Financial Statements and Statutory Reports

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2a Elect Ho Hon Ming, John as Director

Toyo Seikan Group Holdings Ltd.

27/06/2017 Japan

Annual

353

29/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

2b Elect Cheng Mo Chi, Moses as Director

For

Abstain

2c Elect Li Man Bun, Brian David as Director

For

For

2d Authorize Board to Fix Remuneration of Directors

For

For

3 Approve Deloitte Touche Tohmatsu as Auditors and Authorize Board For to Fix Their Remuneration

For

4 Authorize Repurchase of Issued Share Capital

For

For

5 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Concerns to protect shareholder interests

6 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

7 Approve Final Dividend

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 12

For

For

2.1 Elect Director Nakai, Takao

For

Against

2.2 Elect Director Fujii, Atsuo

For

For

2.3 Elect Director Maida, Norimasa

For

For

2.4 Elect Director Gomi, Toshiyasu

For

For

2.5 Elect Director Gobun, Masashi

For

For

2.6 Elect Director Arai, Mitsuo

For

For

2.7 Elect Director Kobayashi, Hideaki

For

For

2.8 Elect Director Katayama, Tsutao

For

For

2.9 Elect Director Asatsuma, Kei

Toyo Suisan Kaisha Ltd.

Mgmt Rec

For

For

2.10 Elect Director Soejima, Masakazu

For

For

2.11 Elect Director Murohashi, Kazuo

For

For

3 Appoint Statutory Auditor Suzuki, Hiroshi

For

For

4 Approve Compensation Ceiling for Statutory Auditors

For

For

For

For

2.1 Elect Director Tsutsumi, Tadasu

1 Approve Allocation of Income, With a Final Dividend of JPY 30

For

For

2.2 Elect Director Imamura, Masanari

For

For

2.3 Elect Director Yamamoto, Kazuo

For

For

2.4 Elect Director Sumimoto, Noritaka

For

For

2.5 Elect Director Oki, Hitoshi

For

For

2.6 Elect Director Takahashi, Kiyoshi

For

For

2.7 Elect Director Makiya, Rieko

For

For

Concerns about overall board structure

Holding executives accountable for ongoing poor returns

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2.8 Elect Director Tsubaki, Hiroshige

Toyoda Gosei Co. Ltd.

15/06/2017 Japan

Annual

13/06/2017 Japan

Annual

For

For

2.9 Elect Director Togawa, Kikuo

For

For

For

For

2.11 Elect Director Mochizuki, Masahisa

For

For

2.12 Elect Director Murakami, Yoshiji

For

For

2.13 Elect Director Murakami, Osamu

For

For

2.14 Elect Director Hamada, Tomoko

For

For

2.15 Elect Director Fujita, Hisashi

For

For

2.16 Elect Director Ogawa, Susumu

For

For

3 Appoint Alternate Statutory Auditor Ushijima, Tsutomu

For

For

4 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 28

For

For

For

For

2.2 Elect Director Miyazaki, Naoki

For

For

2.3 Elect Director Sumida, Atsushi

For

For

2.4 Elect Director Hashimoto, Masakazu

For

For

2.5 Elect Director Yamada, Tomonobu

For

For

2.6 Elect Director Koyama, Toru

For

For

2.7 Elect Director Yasuda, Hiroshi

For

For

2.8 Elect Director Yokoi, Toshihiro

For

For

2.9 Elect Director Tsuchiya, Sojiro

For

For

2.10 Elect Director Yamaka, Kimio

For

For

3 Appoint Statutory Auditor Tanabe, Katsumi

For

Against

4 Approve Annual Bonus

For

For

5 Amend Articles to Add Provisions on No-Confidence Motions

Against

Against

1 Approve Allocation of Income, with a Final Dividend of JPY 29

For

For

2 Amend Articles to Amend Business Lines 3.1 Elect Director Toyoda, Shuhei

354

Vote Instruction Voter Rationale

2.10 Elect Director Kusunoki, Satoru

2.1 Elect Director Arashima, Tadashi

Toyota Boshoku Corp.

Mgmt Rec

For

For

For

For

3.2 Elect Director Ishii, Yoshimasa

For

For

3.3 Elect Director Taki, Takamichi

For

For

3.4 Elect Director Numa, Takeshi

For

For

3.5 Elect Director Hori, Kohei

For

For

3.6 Elect Director Fueta, Yasuhiro

For

For

Concerns about independence

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Toyota Industries Corp.

Meeting Date Country

09/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

3.7 Elect Director Morikawa, Masahiro

For

For

3.8 Elect Director Ogasawara, Takeshi

For

For

3.9 Elect Director Sasaki, Kazue

For

For

3.10 Elect Director Kato, Nobuaki

For

For

4 Appoint Statutory Auditor Yamauchi, Tokuji

For

For

5 Appoint Alternate Statutory Auditor Kawamura, Kazuo

For

For

6 Approve Annual Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 65

For

For

2.1 Elect Director Toyoda, Tetsuro

For

For

2.2 Elect Director Onishi, Akira

For

For

2.3 Elect Director Sasaki, Kazue

For

For

2.4 Elect Director Furukawa, Shinya

For

For

2.5 Elect Director Suzuki, Masaharu

For

For

2.6 Elect Director Sasaki, Takuo

For

For

2.7 Elect Director Otsuka, Kan

For

For

2.8 Elect Director Yamamoto, Taku

For

For

For

For

2.10 Elect Director Yamanishi, Kenichiro

2.9 Elect Director Sumi, Shuzo

For

For

2.11 Elect Director Kato, Mitsuhisa

For

For

For

For

3 Approve Annual Bonus Toyota Motor Corp.

Toyota Tsusho Corp.

355

14/06/2017 Japan

23/06/2017 Japan

Annual

Annual

1.1 Elect Director Uchiyamada, Takeshi

For

For

1.2 Elect Director Hayakawa, Shigeru

For

For

1.3 Elect Director Toyoda, Akio

For

For

1.4 Elect Director Didier Leroy

For

For

1.5 Elect Director Terashi, Shigeki

For

For

1.6 Elect Director Nagata, Osamu

For

For

1.7 Elect Director Uno, Ikuo

For

For

1.8 Elect Director Kato, Haruhiko

For

For

1.9 Elect Director Mark T. Hogan

For

For

2 Appoint Alternate Statutory Auditor Sakai, Ryuji

For

For

3 Approve Annual Bonus

For

For

4 Approve Compensation Ceiling for Directors

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 39

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 2 Amend Articles to Clarify Director Authority on Shareholder Meetings - Amend Provisions on Number of Directors - Amend Provisions on Director Titles - Clarify Director Authority on Board Meetings

Transcend Information Inc.

16/06/2017 Taiwan

Annual

Mgmt Rec

Vote Instruction Voter Rationale

For

For

3.1 Elect Director Ozawa, Satoshi

For

For

3.2 Elect Director Karube, Jun

For

For

3.3 Elect Director Yokoi, Yasuhiko

For

For

3.4 Elect Director Yamagiwa, Kuniaki

For

For

3.5 Elect Director Matsudaira, Soichiro

For

For

3.6 Elect Director Oi, Yuichi

For

For

3.7 Elect Director Nagai, Yasuhiro

For

For

3.8 Elect Director Tominaga, Hiroshi

For

For

3.9 Elect Director Iwamoto, Hideyuki

For

For

3.10 Elect Director Takahashi, Jiro

For

For

3.11 Elect Director Kawaguchi, Yoriko

For

For

3.12 Elect Director Fujisawa, Kumi

For

For

4 Approve Annual Bonus

For

For

5 Approve Compensation Ceiling for Directors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Cash Dividend Distribution from Capital Reserve

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

For

For

None

Against

Substance of resolution unclear at time of voting

Form of resolution limits director accountability

ELECT NON-INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING 5.1 Elect Lin Jin You with Shareholder No. 60220 as Non-Independent Director 6 Other Business Transmissora Alianca De Energia Eletrica SA

TravelSky Technology Limited

356

23/06/2017 Brazil

27/06/2017 China

Special

Annual

Meeting for Holders of Units - BRTAEECDAM10 1 Elect Directors

For

Against

2 Amend Article 4 to Reflect Changes in Capital

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

4 Approve 2016 Allocation of Profit and Distribution of Final Dividend For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

TravelSky Technology Limited Treligga plc - Ardevora UK Income

TripAdvisor, Inc.

Tripod Technology Corporation

Tsingtao Brewery Co., Ltd.

357

Meeting Date Country

27/06/2017 China 30/06/2017 Ireland

22/06/2017 USA

22/06/2017 Taiwan

30/06/2017 China

Meeting Type

Special Annual

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Approve Baker Tilly Hong Kong Limited as International Auditors and Baker Tilly China as PRC Auditors to Authorize Board to Fix Their Remuneration

For

For

6 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

7 Authorize Repurchase of Issued H Share Capital

For

For

1 Authorize Repurchase of Issued H Share Capital

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Ratify Grant Thornton as Auditors

For

For

3 Authorise Board to Fix Remuneration of Auditors

For

For

Concerns to protect shareholder interests

CLASS MEETING FOR HOLDERS OF H SHARES

1.1 Elect Director Gregory B. Maffei

For

For

1.2 Elect Director Stephen Kaufer

For

For

1.3 Elect Director Dipchand (Deep) Nishar

For

For

1.4 Elect Director Jeremy Philips

For

For

1.5 Elect Director Spencer M. Rascoff

For

For

1.6 Elect Director Albert E. Rosenthaler

For

For

1.7 Elect Director Sukhinder Singh Cassidy

For

For

1.8 Elect Director Robert S. Wiesenthal

For

For

2 Ratify KPMG LLP as Auditors

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Rules and Procedures for Election of Directors

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve 2016 Work Report of the Board of Directors

For

For

2 Approve 2016 Report of the Board of Supervisors

For

For

3 Approve 2016 Financial Report (Audited)

For

For

4 Approve 2016 Profit and Dividend Distribution Plan

For

For

5 Approve PricewaterhouseCoopers Zhong Tian LLP as Auditor and Authorize Board to Fix Their Remuneration

For

For

6 Approve PricewaterhouseCoopers Zhong Tian LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name TSRC Corp.

Turk Hava Yollari A.O.

Meeting Date Country 22/06/2017 Taiwan

09/06/2017 Turkey

Meeting Type Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Open Meeting and Elect Presiding Council of Meeting

For

For

2 Accept Board Report

For

For

3 Accept Audit Report

For

For

4 Accept Financial Statements

For

For

5 Approve Discharge of Board

For

For

6 Approve Allocation of Income

For

For

7 Approve Director Remuneration

For

For

8 Ratify Director Appointment

For

For

9 Elect Directors

For

For

For

For

For

Against

1 Open Meeting and Elect Presiding Council of Meeting

For

For

2 Authorize Presiding Council to Sign Minutes of Meeting

For

For

5 Accept Financial Statements

For

For

6 Approve Discharge of Board

For

For

7 Ratify Director Appointment

For

For

8 Approve Director Remuneration

For

For

9 Approve Internal Auditor Remuneration

For

For

10 Approve Allocation of Income

For

For

11 Ratify External Auditors

For

For

Postponed Meeting Agenda

10 Ratify External Auditors 11 Receive Information on the Guarantees, Pledges, and Mortgages Provided by the Company to Third Parties 12 Approve Upper Limit of Donations for 2017 and Receive Information on Donations Made in 2016

Concerns to protect shareholder interests

13 Wishes Turk Telekomunikasyon AS

21/06/2017 Turkey

Annual

Postponed Meeting Agenda

3 Read Board Report 4 Read Audit Report

12 Receive Information on Donations Made in 2016

358

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

17 Authorize Board to Acquire Businesses up to a EUR 500 Million Value

For

For

18 Authorize Board to Establish New Companies in Relation to Business Acquired

For

For

19 Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

For

For

13 Receive Information on the Guarantees, Pledges, and Mortgages Provided by the Company to Third Parties 14 Receive Information in Accordance to Article 1.3.1 of Capital Market Board Corporate Governance Principles 15 Receive Information in Accordance to Article 1.3.6 of Capital Market Board Corporate Governance Principles 16 Receive Information on Remuneration Policy

20 Wishes and Close Meeting Turkiye Halk Bankasi A.S.

08/06/2017 Turkey

Annual

Postponed Meeting Agenda 1 Open Meeting and Elect Presiding Council of Meeting

For

For

2 Accept Statutory Reports

For

For

3 Accept Financial Statements

For

For

4 Approve Allocation of Income

For

For

5 Approve Discharge of Board and Auditors

For

For

6 Elect Board of Directors and Internal Auditors

For

Against

7 Approve Remuneration of Directors and Internal Auditors

For

For

8 Ratify External Auditors

For

For

For

For

Form of resolution limits director accountability

9 Receive Information on Donations Made in 2016 10 Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose 11 Close Meeting Turkiye Vakiflar Bankasi TAO

359

09/06/2017 Turkey

Annual

Postponed Meeting Agenda 1 Open Meeting and Elect Presiding Council of Meeting

For

For

2 Accept Statutory Reports

For

For

3 Accept Audit Report

For

For

4 Accept Financial Statements

For

For

5 Approve Discharge of Board

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 6 Approve Allocation of Income

Mgmt Rec

Vote Instruction Voter Rationale

For

For

7 Elect Directors

For

Against

Form of resolution limits director accountability

8 Appoint Internal Statutory Auditors

For

Against

Form of resolution limits director accountability

9 Approve Remuneration of Directors and Internal Auditors

For

For

10 Grant Permission for Board Members to Engage in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose

For

For

11 Ratify External Auditors

For

For

12 Receive Information on Donations Made in Previous Fiscal Year 13 Wishes 14 Close Meeting UK Commercial Property Trust Ltd

Ulta Beauty, Inc.

Uniper SE

360

21/06/2017 Guernsey

01/06/2017 USA

08/06/2017 Germany

Annual

Annual

Annual

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Ratify Deloitte LLP as Auditors

For

For

4 Authorise Board to Fix Remuneration of Auditors

For

For

5 Re-elect Michael Ayre as Director

For

For

6 Re-elect Ken McCullagh as Director

For

For

7 Re-elect Sandra Platts as Director

For

For

8 Re-elect John Robertson as Director

For

For

9 Re-elect Andrew Wilson as Director

For

For

10 Authorise Issue of Equity without Pre-emptive Rights

For

For

11 Authorise Market Purchase of Ordinary Shares

For

For

1.1 Elect Director Michelle L. Collins

For

For

1.2 Elect Director Dennis K. Eck

For

For

1.3 Elect Director Charles J. Philippin

For

For

1.4 Elect Director Vanessa A. Wittman

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

2 Approve Allocation of Income and Dividends of EUR 0.55 per Share

For

For

3 Approve Discharge of Management Board for Fiscal 2016

For

For

4 Approve Discharge of Supervisory Board for Fiscal 2016

For

For

5 Ratify PricewaterhouseCoopers GmbH as Auditors for Fiscal 2017

For

For

Concerns about linkage between pay and performance

1 Receive Financial Statements and Statutory Reports for Fiscal 2016 (Non-Voting)

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

Concerns about independence

7 Approve Remuneration of Supervisory Board in Accordance with the For Articles Amendments Proposed in Item 6

Against

Concerns about independence

6 Approve Remuneration of Supervisory Board and Amend Articles

Uni-President Enterprises Corp.

United Microelectronics Corp

21/06/2017 Taiwan

08/06/2017 Taiwan

Annual

Annual

8.1 Elect Bernhard Reutersberg to the Supervisory Board

For

Against

Concerns about director accountability

8.2 Elect Jean-Francois Cirelli to the Supervisory Board

For

Against

Concerns about director accountability

8.3 Elect David Charles Davies to the Supervisory Board

For

Against

Concerns about director accountability

8.4 Elect Marion Helmes to the Supervisory Board

For

Against

Concerns about director accountability

8.5 Elect Rebecca Ranich to the Supervisory Board

For

Against

Concerns about director accountability

8.6 Elect Marc Spieker to the Supervisory Board

For

Against

Concerns about director accountability

9 Approve Remuneration System for Management Board Members

For

Against

Concerns about linkage between pay and performance

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Rules and Procedures Regarding Shareholder's General Meeting

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Approve Release of Restrictions of Competitive Activities of Directors and Representatives

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

5 Amend Trading Procedures Governing Derivatives Products

For

For

6 Amend Procedures for Lending Funds to Other Parties

For

Against

Concerns to protect shareholder interests

7 Amend Procedures for Endorsement and Guarantees

For

Against

Concerns to protect shareholder interests

8 Approve Issuance of Ordinary Shares via Private Placement and For Participate in the Issuance of Global Depository Receipt or Issuance of Overseas or Domestic Convertible Bonds United Therapeutics Corporation

UnitedHealth Group Incorporated

361

28/06/2017 USA

05/06/2017 USA

Annual

Annual

For

1a Elect Director Raymond Dwek

For

Against

Concerns about overall board structure

1b Elect Director Christopher Patusky

For

Against

Concerns about overall board structure

1c Elect Director Tommy Thompson

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Ernst & Young LLP as Auditors

For

For

For

Against

1a Elect Director William C. Ballard, Jr.

Concerns about linkage between pay and performance

Concerns about overall board structure

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

USS Co., Ltd.

Meeting Date Country

13/06/2017 Japan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1b Elect Director Richard T. Burke

For

Against

1c Elect Director Timothy P. Flynn

For

For

1d Elect Director Stephen J. Hemsley

For

For

1e Elect Director Michele J. Hooper

For

For

1f Elect Director Rodger A. Lawson

For

For

1g Elect Director Glenn M. Renwick

For

For

1h Elect Director Kenneth I. Shine

For

For

1i Elect Director Gail R. Wilensky

For

Against

Concerns about overall board structure

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Ratify Deloitte & Touche LLP as Auditors

For

For

5 Report on Lobbying Payments and Policy

Against

For

1 Approve Allocation of Income, with a Final Dividend of JPY 23.2

For

For

2.1 Elect Director Ando, Yukihiro

For

For

2.2 Elect Director Seta, Dai

For

For

2.3 Elect Director Masuda, Motohiro

For

For

2.4 Elect Director Yamanaka, Masafumi

For

For

2.5 Elect Director Mishima, Toshio

For

For

2.6 Elect Director Akase, Masayuki

For

For

2.7 Elect Director Ikeda, Hiromitsu

For

For

2.8 Elect Director Tamura, Hitoshi

For

For

2.9 Elect Director Kato, Akihiko

For

For

2.10 Elect Director Aso, Mitsuhiro

For

For

For

For

3.1 Appoint Statutory Auditor Ozaki, Shinji

Vale S.A.

362

27/06/2017 Brazil

Special

Concerns about overall board structure

3.2 Appoint Statutory Auditor Niwa, Toru

For

For

3.3 Appoint Statutory Auditor Miyazaki, Ryoichi

For

For

1 Approve Conversion of Class A Preferred Shares into Common Shares

For

For

2 Amend Articles

For

For

3 Approve Agreement to Absorb Valepar S.A. (Valepar)

For

For

4 Ratify KPMG Auditores Independentes as the Independent Firm to Appraise Proposed Transaction

For

For

5 Approve Independent Firm's Appraisal

For

For

6 Approve Absorption of Valepar S.A. (Valepar)

For

For

Proposal encourages enhanced transparency

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

1 Approve Conversion of Class A Preferred Shares into Common Shares

For

For

2 Amend Articles

For

For

3 Approve Agreement to Absorb Valepar S.A. (Valepar)

For

For

4 Ratify KPMG Auditores Independentes as the Independent Firm to Appraise Proposed Transaction

For

For

5 Approve Independent Firm's Appraisal

For

For

6 Approve Absorption of Valepar S.A. (Valepar)

For

For

7 Amend Article 5 to Reflect Changes in Capital

For

For

1 Approve Conversion of Class A Preferred Shares into Common Shares

For

For

2 Amend Articles

For

For

3 Approve Agreement to Absorb Valepar S.A. (Valepar)

For

For

4 Ratify KPMG Auditores Independentes as the Independent Firm to Appraise Proposed Transaction

For

For

5 Approve Independent Firm's Appraisal

For

For

6 Approve Absorption of Valepar S.A. (Valepar)

For

For

7 Amend Article 5 to Reflect Changes in Capital

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4 Other Business

None

Against

For

For

7 Amend Article 5 to Reflect Changes in Capital Meeting for Preferred Shareholders

Meeting for ADR Holders

Vanguard International Semiconductor Corp.

Vertex Pharmaceuticals Incorporated

363

16/06/2017 Taiwan

08/06/2017 USA

Annual

Annual

1.1 Elect Director Alan Garber 1.2 Elect Director Margaret G. McGlynn

For

For

1.3 Elect Director William D. Young

For

For

2 Declassify the Board of Directors

For

For

3 Amend Omnibus Stock Plan

For

Against

4 Ratify Ernst & Young LLP as Auditors

For

For

5 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

6 Advisory Vote on Say on Pay Frequency

One Year

One Year

Substance of resolution unclear at time of voting

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 7 Eliminate Supermajority Vote Requirement

VMware, Inc.

VPC Specialty Lending Investments plc

Wal-Mart Stores, Inc.

364

08/06/2017 USA

13/06/2017 United Kingdom

02/06/2017 USA

Annual

Annual

Annual

Mgmt Rec

Vote Instruction Voter Rationale

Against

For

Proposal enhances accountability Proposal encourages enhanced transparency

8 Report on Lobbying Payments and Policy

Against

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Reappoint KPMG Ltd of Vietnam as Auditors and Authorise Their Remuneration

For

For

3 Re-elect Stanley Yu-Chung Chou as Director

For

For

4 Re-elect Marc Faber as Director

For

For

5 Re-elect Wolfgang Bertelsmeier as Director

For

For

6 Re-elect Derek Loh as Director

For

For

7 Re-elect Gordon Lawson as Director

For

For

8 Re-elect Dominic Scriven as Director

For

For

9 Authorise Market Purchase of Ordinary Shares

For

For

1 Elect Director Anthony Bates

For

For

2 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

3 Advisory Vote on Say on Pay Frequency

One Year

One Year

4 Amend Omnibus Stock Plan

For

Against

5 Amend Qualified Employee Stock Purchase Plan

For

For

6 Amend Certificate of Incorporation

For

For

7 Ratify PricewaterhouseCoopers LLP as Auditors

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Dividend Policy

For

For

4 Re-elect Andrew Adcock as Director

For

For

5 Re-elect Elizabeth Passey as Director

For

For

6 Elect Richard Levy as Director

For

For

7 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

8 Authorise Audit and Valuation Committee to Fix Remuneration of Auditors

For

For

9 Authorise Issue of Equity with Pre-emptive Rights

For

For

10 Authorise Issue of Equity without Pre-emptive Rights

For

For

11 Authorise Market Purchase of Ordinary Shares

For

For

12 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1a Elect Director James I. Cash, Jr.

For

For

Concerns about linkage between pay and performance Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Washington Real Estate Investment Trust

Meeting Date Country

01/06/2017 USA

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1b Elect Director Timothy P. Flynn

For

For

1c Elect Director Carla A. Harris

For

For

1d Elect Director Thomas W. Horton

For

For

1e Elect Director Marissa A. Mayer

For

For

1f Elect Director C. Douglas McMillon

For

For

1g Elect Director Gregory B. Penner

For

For

1h Elect Director Steven S Reinemund

For

For

1i Elect Director Kevin Y. Systrom

For

For

1j Elect Director S. Robson Walton

For

Against

1k Elect Director Steuart L. Walton

For

For

2 Advisory Vote on Say on Pay Frequency

One Year

One Year

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against For

4 Ratify Ernst & Young LLP as Auditors

For Against

For

Proposal enhances board structure

6 Provide Proxy Access Right

Against

For

Proposal enhances board accountability

7 Require Independent Director Nominee with Environmental Experience

Against

For

Proposal promotes enhanced approach to environmental matters

1 Declassify the Board of Directors

For

For

2 Amend Bylaws

365

08/06/2017 China

Annual

Concerns about linkage between pay and performance

5 Require Independent Board Chairman

3.1 Elect Director Benjamin S. Butcher

Weichai Power Co., Ltd.

Concerns about overall board structure

For

For

For

For

3.2 Elect Director Edward S. Civera

For

For

3.3 Elect Director Ellen M. Goitia

For

For

4 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

5 Advisory Vote on Say on Pay Frequency

One Year

One Year

6 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve 2016 Annual Report

For

For

2 Approve 2016 Report of the Board of Directors

For

For

3 Approve 2016 Report of the Supervisory Committee

For

For

4 Approve 2016 Audited Financial Statements and Auditors' Report

For

For

5 Approve 2016 Final Financial Report

For

For

6 Approve 2017 Financial Budget Report

For

For

Concerns about linkage between pay and performance

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Approve Ernst & Young Hua Ming LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

8 Approve Shangdong Hexin Accountants LLP as Internal Control Auditors

For

For

9 Approve Interim Dividend

For

For

10 Amend Rules of Procedure for General Meetings

For

For

11 Approve Payment of Cash Dividends and Bonus Shares Issue

For

For

12 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

13 Amend Articles of Association

For

For

14 Elect Li Hongwu as Director

For

For

15 Elect Yuan Hongming as Director

For

For

16 Elect Yan Jianbo as Director

For

For

1 Approve Payment of Cash Dividends and Bonus Shares Issue

For

For

Concerns to protect shareholder interests

ELECT 2 EXECUTIVE DIRECTORS VIA CUMULATIVE VOTING

Weichai Power Co., Ltd.

08/06/2017 China

Special

CLASS MEETING FOR HOLDERS OF H SHARES

West Japan Railway Co.

22/06/2017 Japan

Annual

1 Approve Allocation of Income, with a Final Dividend of JPY 70

For

For

Whitbread PLC

21/06/2017 United Kingdom

Annual

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Policy

For

For

3 Approve Remuneration Report

For

For

4 Approve Final Dividend

For

For

5 Elect David Atkins as Director

For

For

6 Elect Adam Crozier as Director

For

For

7 Elect Deanna Oppenheimer as Director

For

For

8 Re-elect Richard Baker as Director

For

For

9 Re-elect Alison Brittain as Director

For

For

10 Re-elect Nicholas Cadbury as Director

For

For

11 Re-elect Sir Ian Cheshire as Director

For

For

12 Re-elect Chris Kennedy as Director

For

For

13 Re-elect Louise Smalley as Director

For

For

14 Re-elect Susan Martin as Director

For

For

15 Reappoint Deloitte LLP as Auditors

For

For

16 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

17 Authorise EU Political Donations and Expenditure

For

For

18 Authorise Issue of Equity with Pre-emptive Rights

For

For

366

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

20 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

21 Authorise Market Purchase of Ordinary Shares

For

For

22 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1a Elect Director Anna C. Catalano

For

For

1b Elect Director Victor F. Ganzi

For

For

1c Elect Director John J. Haley

For

For

1d Elect Director Wendy E. Lane

For

Against

19 Authorise Issue of Equity without Pre-emptive Rights

Willis Towers Watson Public Limited Company

13/06/2017 Ireland

Annual

1e Elect Director James F. McCann

For

For

1f Elect Director Brendan R. O'Neill

For

For

1g Elect Director Jaymin Patel

For

For

1h Elect Director Linda D. Rabbitt

For

For

1i Elect Director Paul Thomas

For

For

1j Elect Director Jeffrey W. Ubben

For

For

1k Elect Director Wilhelm Zeller

For

For

2 Approve Deloitte & Touche LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

4 Advisory Vote on Say on Pay Frequency

One Year

One Year

5 Provide Proxy Access Right

For

For

6A Adopt Plurality Voting for Contested Election of Directors

For

For

6B Establish Range for Size of Board

For

For

7A Amend Advance Notice Provisions and Make Certain Administrative For Amendments

For

7B Amend Articles of Association

For

For

For

For

9 Renew the Board's Authority to Opt-Out of Statutory Pre-Emptions For Rights

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Approve Remuneration Policy

For

For

4 Approve Final Dividend

For

For

8 Renew the Board's Authority to Issue Shares Under Irish Law

Wincanton plc

367

29/06/2017 United Kingdom

Annual

Concerns about candidate

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Wipro Limited

WisdomTree Investments, Inc.

Wistron Corp.

Witan Pacific Investment Trust PLC

368

Meeting Date Country

03/06/2017 India

20/06/2017 USA

14/06/2017 Taiwan

14/06/2017 United Kingdom

Meeting Type

Special

Annual

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Re-elect Steve Marshall as Director

For

For

6 Re-elect Adrian Colman as Director

For

For

7 Re-elect Tim Lawlor as Director

For

For

8 Re-elect Paul Dean as Director

For

For

9 Re-elect Stewart Oades as Director

For

For

10 Re-elect David Radcliffe as Director

For

For

11 Re-elect Martin Sawkins as Director

For

For

12 Reappoint KPMG LLP as Auditors

For

For

13 Authorise Board to Fix Remuneration of Auditors

For

For

14 Authorise EU Political Donations and Expenditure

For

For

15 Authorise Issue of Equity with Pre-emptive Rights

For

For

16 Authorise Issue of Equity without Pre-emptive Rights

For

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Increase Authorized Share Capital and Amend Memorandum of Association

For

For

2 Approve Issuance of Bonus Shares

For

For

Postal Ballot

1.1 Elect Director Frank Salerno

For

For

1.2 Elect Director R. Jarrett Lilien

For

For

1.3 Elect Director Jonathan Steinberg

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Issuance of New Shares by Capitalization of Profit

For

For

4 Approve Issuance of Ordinary Shares to Participate in Issuance of GDR or Issuance of Ordinary Shares or Issuance of Ordinary Shares via Private Placement or Issuance of Ordinary Shares to Participate in Issuance of GDR via Private Placement

For

For

5 Approve Amendments to Articles of Association

For

For

6 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Approve Remuneration Report

For

For

4 Approve Remuneration Policy

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Wm Morrison Supermarkets PLC

Woodford Patient Capital Trust plc

369

Meeting Date Country

15/06/2017 United Kingdom

12/06/2017 United Kingdom

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

5 Re-elect Diane Seymour-Williams as Director

For

For

6 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

7 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

8 Authorise Issue of Equity with Pre-emptive Rights

For

For

9 Authorise Issue of Equity without Pre-emptive Rights

For

For

10 Authorise Market Purchase of Ordinary Shares

For

For

11 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

Against

3 Approve Remuneration Policy

For

For

4 Approve Long Term Incentive Plan

For

For

5 Approve Final Dividend

For

For

6 Re-elect Andrew Higginson as Director

For

For

7 Re-elect David Potts as Director

For

For

8 Re-elect Trevor Strain as Director

For

For

9 Re-elect Rooney Anand as Director

For

For

10 Re-elect Neil Davidson as Director

For

For

11 Re-elect Belinda Richards as Director

For

For

12 Re-elect Paula Vennells as Director

For

For

13 Reappoint PricewaterhouseCoopers LLP as Auditors

For

For

14 Authorise Board to Fix Remuneration of Auditors

For

For

15 Authorise EU Political Donations and Expenditure

For

For

16 Authorise Issue of Equity with Pre-emptive Rights

For

For

17 Authorise Market Purchase of Ordinary Shares

For

For

18 Authorise Issue of Equity without Pre-emptive Rights

For

For

19 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Remuneration Report

For

For

3 Re-elect Susan Searle as Director

For

For

4 Re-elect Scott Brown as Director

For

For

5 Elect Carolan Dobson as Director

For

For

6 Re-elect Steven Harris as Director

For

For

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

WPG Holdings Co., Ltd.

Meeting Date Country

19/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

7 Elect Alan Hodson as Director

For

For

8 Re-elect Dame Louise Makin as Director

For

For

9 Reappoint Grant Thornton UK LLP as Auditors

For

For

10 Authorise Board to Fix Remuneration of Auditors

For

For

11 Authorise Issue of Equity with Pre-emptive Rights

For

For

12 Authorise Issue of Equity without Pre-emptive Rights

For

For

13 Authorise Market Purchase of Ordinary Shares

For

For

14 Authorise the Company to Call General Meeting with Two Weeks' Notice

For

For

15 Amend the Company's Investment Policy

For

For

16 Authorise the Company to Use Electronic Communications

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

4.1 Elect Lin Tsay-Lin with Shareholder No.2 as Non-independent Director

For

For

4.2 Elect Chen Kou-Yuan with Shareholder No.3 as Non-independent Director

For

For

4.3 Elect Chang Jung-Kang with Shareholder No.5 as Non-independent For Director

For

4.4 Elect Huang Wei-Hsiang with Shareholder No.1 as Nonindependent Director

For

For

4.5 Elect Tsung Kuo-Tung with Shareholder No.134074 as Nonindependent Director

For

For

4.6 Elect Wu Chang-Ching, a Representative of Fullerton Technology Co., Ltd. with Shareholder No.4 as Non-independent Director

For

For

4.7 Elect Yeh Fu-Hai with Shareholder No.14 as Non-independent Director

For

For

4.8 Elect Shaw Shung-Ho with Shareholder No.11 as Non-independent For Director

For

4.9 Elect Yu Yung-Hong with ID No.F121292XXX as Independent Directors

For

Against

Concerns about overall board structure

4.10 Elect Duh Rong-Ruey with ID No.D101417XXX as Independent Directors

For

Against

Concerns about overall board structure

ELECT NON-INDEPENDENT DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING

370

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 4.11 Elect Huang Jin-Tsan with ID No.A100320XXX as Independent Directors

WPP plc

WS Atkins plc

371

07/06/2017 Jersey

26/06/2017 United Kingdom

Annual

Special

Mgmt Rec

Vote Instruction Voter Rationale

For

Against

5 Approve Release of Restrictions of Competitive Activities of Director For Lin Tsay-Lin

For

6 Approve Release of Restrictions of Competitive Activities of Director For Chen Kou-Yuan

For

7 Approve Release of Restrictions of Competitive Activities of Director For Huang Wei-Hsiang

For

8 Approve Release of Restrictions of Competitive Activities of Director For Tsung Kuo-Tung

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3 Approve Remuneration Report

For

For

4 Approve Remuneration Policy

For

For

5 Approve Sustainability Report

For

For

6 Re-elect Roberto Quarta as Director

For

For

7 Re-elect Dr Jacques Aigrain as Director

For

For

8 Re-elect Ruigang Li as Director

For

For

9 Re-elect Paul Richardson as Director

For

For

10 Re-elect Hugo Shong as Director

For

For

11 Re-elect Sir Martin Sorrell as Director

For

For

12 Re-elect Sally Susman as Director

For

For

13 Re-elect Solomon Trujillo as Director

For

For

14 Re-elect Sir John Hood as Director

For

Against

15 Re-elect Nicole Seligman as Director

For

For

16 Re-elect Daniela Riccardi as Director

For

For

17 Elect Tarek Farahat as Director

For

For

18 Reappoint Deloitte LLP as Auditors

For

For

19 Authorise the Audit Committee to Fix Remuneration of Auditors

For

For

20 Authorise Issue of Equity with Pre-emptive Rights

For

For

21 Authorise Market Purchase of Ordinary Shares

For

For

22 Authorise Issue of Equity without Pre-emptive Rights

For

For

23 Authorise Issue of Equity without Pre-emptive Rights in Connection For with an Acquisition or Other Capital Investment

For

1 Approve Matters Relating to the Acquisition of WS Atkins plc by SNC-Lavalin (GB) Holdings Limited

For

Concerns about overall board structure

Concerns about candidate

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

WS Atkins plc

26/06/2017 United Kingdom

Court

Wynn Macau Ltd.

01/06/2017 Cayman Islands

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

1 Approve Scheme of Arrangement

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Final Dividend

For

For

3a Elect Ian Michael Coughlan as Director

For

For

3b Elect Allan Zeman as Director

For

For

3c Elect Nicholas Sallnow-Smith as Director

For

For

3d Elect Kim Marie Sinatra as Director

For

For

For

For

5 Approve Ernst & Young as Auditors and Authorize Board to Fix Their For Remuneration

For

6 Authorize Repurchase of Issued Share Capital

For

For

7 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

Court Meeting

4 Authorize Board to Fix Remuneration of Directors

Yahoo Japan Corporation

Yahoo! Inc.

372

20/06/2017 Japan

08/06/2017 USA

Annual

Special

Concerns to protect shareholder interests

8 Authorize Reissuance of Repurchased Shares

For

Against

Concerns to protect shareholder interests

9 Approve Issuance of Shares Under the Employee Ownership Scheme

For

Against

Concerns about independence

1.1 Elect Director Miyasaka, Manabu

For

For

1.2 Elect Director Son, Masayoshi

For

For

1.3 Elect Director Miyauchi, Ken

For

For

1.4 Elect Director Jonathan Bullock

For

For

1.5 Elect Director Arthur Chong

For

For

1.6 Elect Director Alexi A. Wellman

For

For

2.1 Elect Director and Audit Committee Member Yoshii, Shingo

For

For

2.2 Elect Director and Audit Committee Member Onitsuka, Hiromi

For

For

2.3 Elect Director and Audit Committee Member Fujiwara, Kazuhiko

For

For

3.1 Elect Alternate Director and Audit Committee Member Uemura, Kyoko

For

Against

3.2 Elect Alternate Director and Audit Committee Member Kimiwada, Kazuko

For

For

4 Approve Equity Compensation Plan

For

For

1 Approve Sale of Yahoo Holdings, Inc., a wholly-owned subsidiary of Yahoo! Inc.

For

For

2 Advisory Vote on Golden Parachutes

For

Against

3 Adjourn Meeting

For

For

Concerns about independence

Concerns about linkage between pay and performance

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Yakult Honsha Co. Ltd.

Yamada Denki Co. Yamaguchi Financial Group, Inc.

Meeting Date Country 21/06/2017 Japan

29/06/2017 Japan 27/06/2017 Japan

Meeting Type Annual

Annual Annual

Proposal Number Proposal Text 1.1 Elect Director Negishi, Takashige

373

22/06/2017 Japan

Annual

Vote Instruction Voter Rationale

For

For

1.2 Elect Director Kawabata, Yoshihiro

For

For

1.3 Elect Director Narita, Hiroshi

For

For

1.4 Elect Director Wakabayashi, Hiroshi

For

For

1.5 Elect Director Ishikawa, Fumiyasu

For

For

1.6 Elect Director Tanaka, Masaki

For

For

1.7 Elect Director Ito, Masanori

For

For

1.8 Elect Director Richard Hall

For

For

1.9 Elect Director Yasuda, Ryuji

For

For

1.10 Elect Director Fukuoka, Masayuki

For

For

1.11 Elect Director Bertrand Austruy

For

Against

Concerns about candidate

1.12 Elect Director Filip Kegels

For

Against

Concerns about candidate

1.13 Elect Director Maeda, Norihito

For

For

1.14 Elect Director Doi, Akifumi

For

For

1.15 Elect Director Hayashida, Tetsuya

For

For

2 Approve Director Retirement Bonus

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 13

For

For

2 Appoint Shareholder Director Nominee Kazuo Hashimoto

Against

Against

1 Amend Articles to Reflect Changes in Law 2.1 Elect Director Yoshimura, Takeshi

Yamaha Corp.

Mgmt Rec

For

For

For

For

2.2 Elect Director Umemoto, Hirohide

For

For

2.3 Elect Director Koda, Ichinari

For

For

2.4 Elect Director Kato, Mitsuru

For

For

2.5 Elect Director Oda, Koji

For

For

2.6 Elect Director Fujita, Mitsuhiro

For

For

2.7 Elect Director Tamura, Hiroaki

For

For

3.1 Elect Director and Audit Committee Member Tsukuda, Kazuo

For

For

3.2 Elect Director and Audit Committee Member Kunimasa, Michiaki

For

For

4 Approve Performance-Based Cash Compensation Ceiling for Directors

For

For

5 Approve Trust-Type Equity Compensation Plan

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 26

For

For

2 Amend Articles to Abolish Board Structure with Statutory Auditors - Adopt Board Structure with Three Committees - Clarify Director Authority on Shareholder Meetings - Amend Provisions on Director Titles - Indemnify Directors

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text 3.1 Elect Director Nakata, Takuya

Yamato Holdings Co Ltd

23/06/2017 Japan

Annual

29/06/2017 Japan

Annual

374

29/06/2017 China

Annual

For

For

3.2 Elect Director Yamahata, Satoshi

For

For

For

For

3.4 Elect Director Yanagi, Hiroyuki

For

Against

3.5 Elect Director Nosaka, Shigeru

For

For

3.6 Elect Director Ito, Masatoshi

For

For

3.7 Elect Director Hakoda, Junya

For

For

3.8 Elect Director Nakajima, Yoshimi

For

Against

3.9 Elect Director Fukui, Taku

For

For

1.1 Elect Director Kigawa, Makoto

For

For

1.2 Elect Director Yamauchi, Masaki

For

For

1.3 Elect Director Kanda, Haruo

For

For

1.4 Elect Director Kanamori, Hitoshi

For

For

1.5 Elect Director Nagao, Yutaka

For

For

1.6 Elect Director Hagiwara, Toshitaka

For

For

1.7 Elect Director Mori, Masakatsu

For

For

1.8 Elect Director Tokuno, Mariko

For

For

For

For

1 Approve Allocation of Income, With a Final Dividend of JPY 25 2.1 Elect Director Inoue, Hiroyuki

Yanzhou Coal Mining Company Limited

Vote Instruction Voter Rationale

3.3 Elect Director Hosoi, Masahito

2 Appoint Statutory Auditor Yamashita, Takashi Yamato Kogyo Co. Ltd.

Mgmt Rec

For

For

For

Against

2.2 Elect Director Nakaya, Kengo

For

For

2.3 Elect Director Kohata, Katsumasa

For

For

2.4 Elect Director Damri Tunshevavong

For

For

2.5 Elect Director Yasufuku, Takenosuke

For

For

2.6 Elect Director Maruyama, Motoyoshi

For

For

2.7 Elect Director Tsukamoto, Kazuhiro

For

For

3 Approve Bonus Related to Retirement Bonus System Abolition

For

Against

4 Approve Compensation Ceilings for Directors and Statutory Auditors

For

For

1 Approve 2016 Working Report of the Board

For

For

2 Approve 2016 Working Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Financial Statements

For

For

Concerns about overall board structure

Concerns about overall board structure

Holding executives accountable for ongoing poor returns

Concerns about independence

AGM BALLOT FOR HOLDERS OF H SHARES

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Approve 2016 Profit Distribution Plan and Authorize Board to Distribute Dividend

For

For

5 Approve Remuneration of Directors and Supervisors

For

For

6 Approve Renewal of Liability Insurance of Directors, Supervisors and For Senior Officers

For

7 Approve External Auditing Firm and to Fix Their Remuneration

For

For

8 Approve Acquisition of 65% Equity Interest in Yankuang Group Finance Co., Ltd.

For

Against

Concerns to protect shareholder interests

9 Approve Finance Services Agreement, Annual Caps and and Related For Transactions

Against

Concerns to protect shareholder interests

10 Approve Acquisition of Share Capital of Coal & Allied Industries Limited by Yancoal Australia Co., Ltd.

For

For

11 Approve Company's Compliance with the Requirements of Non-Public Issuance of Shares

For

For

12 Approve Feasibility Analysis Report of Implementing the Use of Proceeds of the Non-Public Issuance of Ordinary Shares

For

For

13 Authorize Board to Deal with Matters Relating to the Non-Public Issuance of Shares at Its Full Discretion

For

For

14 Approve Dilution of Immediate Return and Return Recovery Measures Upon the Non-Public Issuance of Shares

For

For

15 Approve Certain Commitments by the Controlling Shareholders, Directors and Senior Management Relating to Recovery of Immediate Return

For

For

16.01 Approve Class and Nominal Value of Shares to be Issued in Relation For to the Non-Public Issuance of Shares to Specific Persons

For

16.02 Approve Method and Time of the Issue in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.03 Approve Issue Price and Pricing Principle in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.04 Approve Number of New Shares to be Issued in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.05 Approve Use of Proceeds in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.06 Approve Lock-up Period in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF SHARES TO SPECIFIC PERSONS

375

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

16.07 Approve Arrangement Relating to the Accumulated Undistributed Profits in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.08 Approve Validity of Resolution of the Issue in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.09 Approve Place of Listing in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

16.10 Approve Method of Subscription in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

17 Approve Proposal of Non-Public Issuance of A Shares

For

For

18 Approve Provision of Financial Guarantees to Subsidiaries and Related Transactions

For

Against

19 Authorize the Company to Carry Out Domestic and Overseas Financing Businesses

For

For

20 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

21 Authorize Repurchase of Issued H Share Capital

For

For

Concerns to protect shareholder interests

Concerns to protect shareholder interests

ELECT 6 NON-INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING 22.01 Elect Li Xiyong as Director

For

For

22.02 Elect Li Wei as Director

For

For

22.03 Elect Wu Xiangqian as Director

For

For

22.04 Elect Wu Yuxiang as Director

For

For

22.05 Elect Zhao Qingchun as Director

For

For

22.06 Elect Guo Dechun as Director

For

For

ELECT 4 INDEPENDENT DIRECTORS VIA CUMUATIVE VOTING 23.01 Elect Kong Xiangguo as Director

For

For

Votes to favour our preferred candidates

23.02 Elect Jia Shaohua as Director

For

For

Votes to favour our preferred candidates

23.03 Elect Pan Zhaoguo as Director

For

Against

Votes to favour our preferred candidates

23.04 Elect Qi Anbang as Director

For

For

Votes to favour our preferred candidates

ELECT 4 NON-EMPLOYEE REPRESENTATIVE SUPERVISORS VIA CUMULATIVE VOTING

376

24.01 Elect Gu Shisheng as Supervisor

For

For

24.02 Elect Zhou Hong as Supervisor

For

For

24.03 Elect Meng Qingjian as Supervisor

For

For

24.04 Elect Zhang Ning as Supervisor

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name Yanzhou Coal Mining Company Limited

Meeting Date Country 29/06/2017 China

Meeting Type Special

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

CLASS MEETING FOR HOLDERS OF H SHARES RESOLUTIONS RELATING TO THE NON-PUBLIC ISSUANCE OF SHARES TO SPECIFIC PERSONS

Yaskawa Electric Corp.

15/06/2017 Japan

Annual

1.01 Approve Class and Nominal Value of Shares to be Issued in Relation For to the Non-Public Issuance of Shares to Specific Persons

For

1.02 Approve Method and Time of the Issue in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.03 Approve Issue Price and Pricing Principle in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.04 Approve Number of New Shares to be Issued in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.05 Approve Use of Proceeds in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.06 Approve Lock-up Period in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.07 Approve Arrangement Relating to the Accumulated Undistributed Profits in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.08 Approve Validity of Resolution of the Issue in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.09 Approve Place of Listing in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

1.10 Approve Method of Subscription in Relation to the Non-Public Issuance of Shares to Specific Persons

For

For

2 Approve Proposal of Non-Public Issuance of A Shares

For

For

3 Authorize Repurchase of Issued H Share Capital

For

For

1 Amend Articles to Change Fiscal Year End 2.1 Elect Director Tsuda, Junji

377

For

For

For

For

2.2 Elect Director Ogasawara, Hiroshi

For

For

2.3 Elect Director Murakami, Shuji

For

For

2.4 Elect Director Minami, Yoshikatsu

For

For

2.5 Elect Director Takamiya, Koichi

For

For

2.6 Elect Director Nakayama, Yuji

For

For

3.1 Elect Director and Audit Committee Member Oda, Masahiko

For

For

3.2 Elect Director and Audit Committee Member Noda, Konosuke

For

For

3.3 Elect Director and Audit Committee Member Akita, Yoshiki

For

For

3.4 Elect Director and Audit Committee Member Tatsumi, Kazumasa

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

For

For

4 Elect Alternate Director and Audit Committee Member Honda, Masaya

For

For

5 Approve Trust-Type Equity Compensation Plan

For

For

6 Approve Trust-Type Equity Compensation Plan

For

For

1 Accept Financial Statements and Statutory Reports

For

For

2 Approve Dividend

For

For

3 Reelect Ajai Kumar as Director

For

For

4 Approve B S R & Co. LLP., Chartered Accountants as Auditors and Authorize Board to Fix Their Remuneration

For

For

5 Approve Appointment and Remuneration of Ashok Chawla as Non-Executive Part-Time Chairman

For

For

6 Approve Increase in Borrowing Powers

For

For

7 Approve Issuance of Debt Securities on Private Placement Basis

For

For

8 Elect Debjani Ghosh as Director

For

For

1 Approve Allocation of Income, with a Final Dividend of JPY 12.5

For

For

3.5 Elect Director and Audit Committee Member Sakane, Junichi

Yes Bank Limited

Yokogawa Electric Corp.

Yuanta Financial Holding Co Ltd.

Yulon Motor

378

06/06/2017 India

27/06/2017 Japan

08/06/2017 Taiwan

22/06/2017 Taiwan

Annual

Annual

Annual

Annual

2.1 Elect Director Kaihori, Shuzo

For

For

2.2 Elect Director Nishijima, Takashi

For

For

2.3 Elect Director Kurosu, Satoru

For

For

2.4 Elect Director Nara, Hitoshi

For

For

2.5 Elect Director Nakahara, Masatoshi

For

For

2.6 Elect Director Anabuki, Junichi

For

For

2.7 Elect Director Urano, Mitsudo

For

For

2.8 Elect Director Uji, Noritaka

For

For

2.9 Elect Director Seki, Nobuo

For

For

2.10 Elect Director Sugata, Shiro

For

For

3.1 Appoint Statutory Auditor Maemura, Koji

For

For

3.2 Appoint Statutory Auditor Takayama, Yasuko

For

For

1 Approve Business Operations Report and Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Approve Amendments to Articles of Association

For

For

4 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

1 Approve Financial Statements

For

For

2 Approve Plan on Profit Distribution

For

For

3 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Yulon Nissan Motor Co., Ltd.

Meeting Date Country

26/06/2017 Taiwan

Meeting Type

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

4 Amend Trading Procedures Governing Derivatives Products

For

Against

5 Amend Procedures for Endorsement and Guarantees

For

For

1 Approve Financial Statements

For

For

2 Approve Profit Distribution

For

For

3 Amend Articles of Association

For

For

4 Amend Rules and Procedures for Election of Directors and Supervisors

For

For

5 Amend Procedures Governing the Acquisition or Disposal of Assets

For

For

6 Elect Ikushima Takahiko with ID No.1967011XXX as Supervisor

For

For

7 Other Business

None

Against

Concerns to protect shareholder interests

ELECT SUPERVISOR VIA CUMULATIVE VOTING

Yushin Precision Equipment Co. Ltd.

Zhuzhou CRRC Times Electric Co., Ltd.

379

22/06/2017 Japan

13/06/2017 China

Annual

Annual

1.1 Elect Director Kotani, Mayumi

For

For

1.2 Elect Director Kimura, Satoshi

For

For

1.3 Elect Director Odachi, Yasuharu

For

For

1.4 Elect Director Kitagawa, Yasushi

For

For

1.5 Elect Director Inano, Tomohiro

For

For

1.6 Elect Director Nishiguchi, Yasuo

For

For

1.7 Elect Director Matsuhisa, Hiroshi

For

For

Substance of resolution unclear at time of voting

2.1 Appoint Statutory Auditor Nakanishi, Yoshihisa

For

For

2.2 Appoint Statutory Auditor Morimoto, Michitoshi

For

For

1 Approve 2016 Report of the Board of Directors

For

For

2 Approve 2016 Report of the Supervisory Committee

For

For

3 Approve 2016 Audited Consolidated Financial Statements and Auditor's Report

For

For

4 Approve 2016 Profit Distribution Plan and Final Dividend

For

For

5 Approve Ernst & Young Hua Ming LLP as Auditors and Authorize Board to Fix Their Remuneration

For

For

6 Elect Ding Rongjun as Director and Approve His Emolument

For

For

7 Elect Li Donglin as Director and Approve His Emolument

For

For

8 Elect Liu Ke'an as Director and Approve His Emolument

For

For

9 Elect Yan Wu as Director and Approve His Emolument

For

For

10 Elect Ma Yunkun as Director and Approve His Emolument

For

Against

Concerns about overall board structure

11 Elect Chan Kam Wing, Clement as Director and Approve His Emolument

For

Against

Concerns about overall board structure

12 Elect Pao Ping Wing as Director and Approve His Emolument

For

Against

Concerns about overall board structure

13 Elect Liu Chunru as Director and Approve His Emolument

For

Against

Concerns about overall board structure aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Zions Bancorporation

ZTE Corporation

Meeting Date Country

02/06/2017 USA

20/06/2017 China

Meeting Type

Annual

Annual

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

14 Elect Chen Xiaoming as Director and Approve His Emolument

For

For

15 Elect Xiong Ruihua as Supervisor and Approve His Emolument

For

For

16 Elect Geng Jianxin as Supervisor and Approve His Emolument

For

For

17 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

18 Approve Amendments to Articles of Association

For

For

1A Elect Director Jerry C. Atkin

For

Against

1B Elect Director Gary L. Crittenden

For

For

1C Elect Director Suren K. Gupta

For

For

1D Elect Director J. David Heaney

For

For

1E Elect Director Vivian S. Lee

For

For

Concerns to protect shareholder interests

Concerns about overall board structure

1F Elect Director Edward F. Murphy

For

For

1G Elect Director Roger B. Porter

For

Against

Concerns about overall board structure

1H Elect Director Stephen D. Quinn

For

Against

Concerns about overall board structure

1I Elect Director Harris H. Simmons

For

For

1J Elect Director Barbara A. Yastine

For

For

2 Ratify Ernst & Young LLP as Auditors

For

For

3 Advisory Vote to Ratify Named Executive Officers' Compensation

For

Against

Concerns about linkage between pay and performance

4 Require Independent Board Chairman

Against

For

Proposal enhances board structure

1 Approve 2016 Annual Report

For

For

2 Approve 2016 Report of the Board of Directors

For

For

3 Approve 2016 Report of the Supervisory Committee

For

For

4 Approve 2016 Report of the President

For

For

5 Approve 2016 Final Financial Accounts

For

For

6 Approve 2016 Profit Distribution

For

For

7.1 Approve Ernst & Young Hua Ming LLP as PRC Auditor and Authorize For Board to Fix Their Remuneration

For

7.2 Approve Ernst & Young as Hong Kong Auditor and Authorize Board to Fix Their Remuneration

For

For

7.3 Approve Ernst & Young Hua Ming LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration

For

For

AGM BALLOT FOR HOLDERS OF H SHARES

RESOLUTIONS ON THE APPOINTMENT OF THE PRC AUDITOR AND THE HONG KONG AUDITOR OF THE COMPANY FOR 2017

380

aberdeen-asset.co.uk

Full voting disclosure for June 2017 Issuer Name

Meeting Date Country

Meeting Type

Proposal Number Proposal Text

Mgmt Rec

Vote Instruction Voter Rationale

8.1 Approve Application of Composite Credit Facility to Bank of China Limited

For

For

8.2 Approve Application of Composite Credit Facility to China Development Bank Corporation, Shenzhen Branch

For

For

For

For

10 Elect Zhai Weidong as Director

For

For

11 Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights

For

Against

12 Approve Amendments to Articles of Association

For

For

13 Approve 2017 Share Option Incentive Scheme (Draft)

For

Against

Concerns about linkage between pay and performance

14 Approve 2017 Share Option Incentive Scheme Performance Appraisal System

For

Against

Concerns about linkage between pay and performance

15 Authorize Board to Ratify and Execute Approved Resolutions with Regards to the 2017 Share Option Incentive Scheme

For

Against

Concerns about linkage between pay and performance

1 Approve 2017 Share Option Incentive Scheme (Draft) of ZTE Corporation and Its Summary

For

Against

Concerns about linkage between pay and performance

2 Approve 2017 Share Option Incentive Scheme Performance Appraisal System of ZTE Corporation

For

Against

Concerns about linkage between pay and performance

3 Authorize Board to Handle All Matters in Relation to the 2017 Share Option Incentive Scheme

For

Against

Concerns about linkage between pay and performance

RESOLUTIONS REGARDING APPLICATION FOR COMPOSITE CREDIT FACILITIES

9 Approve Application for Investment Limits in Derivative Products

ZTE Corporation

121029678 09/17

20/06/2017 China

Special

Concerns to protect shareholder interests

CLASS MEETING FOR HOLDERS OF H SHARES