UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM N-PX

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1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number Mirae Asset Discovery Funds (Exact name of registrant as specified in charter) One Bryant Park New York, NY (Address of principal executive offices) (Zip code) Citi Fund Services Ohio, Inc Stelzer Road Columbus, OH ( and address of agent for service) Registrant's telephone number, including area code: of fiscal year end: April 30 of reporting period: July 1, 2011 June 30, 2012 Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 ( and of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C

2 GLOBAL EMERGING MARKETS SECTOR Investment Company Report TATA CONSULTANCY SERVICES LTD Security Y Meeting Type Annual General Meeting Ticker Symbol Meeting 01-Jul-2011 ISIN INE467B01029 Agenda To receive, consider and adopt the Audited Profit and Loss for the year ended March 31, 2011 and the Balance Sheet as at that date together with the Reports of the Board of Directors and the Auditors thereon 2 To confirm the payment of Interim Dividends on Equity for the year and to declare Final Dividend for the year on Equity 3 To declare Dividend for the year on Redeemable Preference 4 To appoint a Director in place of Mr. Aman Mehta, who retires by rotation, and being eligible offers himself for re-appointment 5 To appoint a Director in place of Mr. V. Thyagarajan, who retires by rotation, and being eligible offers himself for re-appointment 6 To appoint a Director in place of Mr. S. Mahalingam, who retires by rotation, and being eligible offers himself for re-appointment 7 To appoint Auditors and fix their remuneration 8 Appointment of Mr. Phiroz Vandrevala as a Director of the Company 9 Revision in terms of remuneration of Mr. N. Chandrasekaran, Chief Executive Officer and Managing Director 10 Appointment of Branch Auditors Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 8,344 Page 1 of 92

3 GLOBAL EMERGING MARKETS SECTOR Investment Company Report GCL-POLY ENERGY HOLDINGS LTD Security G3774X108 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 12-Jul-2011 ISIN KYG3774X1088 Agenda PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf PLEASE NOTE THAT SHAREHOLDERS ARE ALLOWED TO VOTE 'IN FAVOR' OR 'AGAINST'-ONLY FOR RESOLUTION "1". THANK YOU. 1 That (a) the renewed coal supply framework agreement (''Renewed Nanjing Agreement'') dated 10 June 2011 entered into between as specified (GCL-Poly Power Fuel Co., Ltd., ''GCL- Poly Fuel Company'') as supplier and as specified (Nanjing Xiexin Life Sludge Power Co., Ltd.) as customer in relation to the supply of coal, a copy of which marked ''A'' has been tabled before the Meeting and initialed by the chairman of the Meeting for identification purpose, and the transactions contemplated thereunder and the execution of which be and are hereby approved, ratified and confirmed; (b) the renewed coal supply framework agreement (''Renewed Lanxi Agreement'') dated 10 June 2011 entered into between GCL-Poly Fuel Company as supplier and as specified (Lanxi Golden Concord Environmental Protection Cogen-Power Co., Ltd.) as CONTD CONT CONTD customer in relation to the supply of coal, a copy of which marked-''b'' has been tabled before the Meeting and initialed by the chairman of the-meeting for identification purpose, and the transactions contemplated- thereunder and the execution of which be and are hereby approved, ratified-and confirmed; (c) the coal supply framework agreement (''Jinshanqiao-Agreement'') dated 10 June 2011 entered into between GCL-Poly Fuel Company as-supplier and as specified (Xuzhou Jinshanqiao Cogeneration Company Limited)-as customer in relation to the supply of coal, a copy of which marked ''C''-has been tabled before the Meeting and initialed by the chairman of the- Meeting for identification purpose, and the transactions contemplated-thereunder and the execution of which be and are hereby approved, ratified-and confirmed; CONTD CONT CONTD (d) the aggregated annual caps for the supply of coal as stated in thecircular of the Company dated 21 June 2011 under the Renewed Nanjing- Agreement, the Renewed Lanxi Agreement and the Jinshanqiao Agreement for the-period from 1 July 2011 to 31 December 2011, the years ending 31 December and 2013 and the period from 1 January 2014 to 30 June 2014 be and arehereby approved, ratified and confirmed; and (e) the directors of the Company-and GCL-Poly Fuel Company be and are hereby generally and unconditionallyauthorised to do all such further acts and things and execute such furtherdocuments and take all such steps which CONTD CONT CONTD in their opinion as may be necessary, desirable or expedient to-implement and/or give effect to the Renewed Nanjing Agreement, the Renewed-Lanxi Agreement and the Jinshanqiao Agreement, and the transactions-contemplated thereunder PLEASE NOTE THAT THIS IS A REVISION DUE TO CONFIRMATION ON RECORD DATE. IF YOU-HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY FORM UNLESS-YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 148, Aug-2011 Page 2 of 92

4 GLOBAL EMERGING MARKETS SECTOR Investment Company Report GODREJ CONSUMER PRODUCTS LTD Security Y2732X135 Meeting Type Annual General Meeting Ticker Symbol Meeting 23-Jul-2011 ISIN INE102D01028 Agenda DELETION OF COMMENT 1 To receive, consider and adopt the Audited Profit and Loss for the year ended March 31, 2011, the Balance Sheet as at that date, the Auditors' Report thereon and the Directors' Report 2 To declare a dividend on equity shares 3 To appoint a Director in place of Dr. Omkar Goswami, who retires by rotation and being eligible, offers himself for reappointment 4 To appoint a Director in place of Mr. Jamshyd Godrej who retires by rotation and being eligible, offers himself for reappointment 5 To appoint Auditors to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting, and to authorise the Board of Directors of the Company to fix their remuneration. M/s. Kalyaniwalla & Mistry, Chartered ants ( Firm Registration No W), the retiring Auditors are eligible for reappointment 6 Resolved that subject to the provisions of Section 257 and other applicable provisions of the Companies Act 1956, if any, Ms. Tanya Dubash, who was appointed as an Additional Director of the Company with effect from May 2, 2011 by the Board of Directors and whose term expires at this Annual General Meeting and in respect of whom the Company has received a notice under Section 257 of the Companies Act, 1956 along with a deposit of INR 500/- from a member proposing her candidature for the office of a Director, be and is hereby appointed as a Director of the Company 7 Resolved that subject to the provisions of Section 257 and other applicable provisions of the Companies Act, 1956, if any, Ms. Nisaba Godrej, who was appointed as an Additional Director of the Company with effect from May 2, 2011 by the Board of Directors and whose term expires at this Annual General Meeting and in respect of whom the Company has received a notice on May 2, 2011 under Section 257 of the Companies Act, 1956 along with a deposit of INR 500/- from a member proposing her candidature for the office of a Director, be and is hereby appointed as a Director of the Company 8 Resolved that subject to the provisions of Section 257 and other applicable provisions of the Companies Act 1956, if any, Mr. Narendra Ambwani, who was appointed as an Additional Director of the Company with effect from May 2, 2011 by the Board of Directors and whose term expires at this Annual General Meeting and in respect of whom the Company has received a notice on May 2, 2011 under Section 257 of the Companies Act, 1956 along with a deposit of INR 500/- from a member proposing his candidature for the office of a Director, be and is hereby appointed as a Director of the Company 9 Resolved that subject to the provisions of Section 257 and other applicable provisions of the Companies Act 1956, if any, Mr. Shyamsunder Jaipuria, in respect of whom the Company has received a notice on May 9, 2011 under Section 257 of the Companies Act, 1956 along with a deposit of INR 500/- and proposing his candidature for the office of a Director, be and is hereby appointed as a Director of the Company PLEASE NOTE THAT THIS IS A REVISION DUE TO MODIFICATION IN THE TEXT OF THE RES-OLUTIONS 8 TO 11 AND REMOVAL OF COMMENT. IF YOU HAVE ALREADY SENT IN YOUR VOTE-S, PLEASE DO NOT RETURN THIS PROXY FORM UNLESS YOU DECIDE TO AMEND YOUR ORIGIN-AL INSTRUCTIONS. THANK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 16, Aug-2011 Page 3 of 92

5 GLOBAL EMERGING MARKETS SECTOR Investment Company Report DURATEX SA Security P3593G146 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 29-Jul-2011 ISIN BRDTEXACNOR3 Agenda A B C IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF-ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING-INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO-BE REJECTED. IF YOU HAVE ANY QUESTIONS, PLEASE ACT YOUR CLIENT SERVICE- REPRESENTATIVE PLEASE NOTE THAT VOTES IN FAVOR AND AGAINST IN THE SAME AGENDA ITEM ARE NOT-ALLOWED. ONLY VOTES IN FAVOR AND/OR ABSTAIN OR AGAINST AND/ OR ABSTAIN ARE-ALLOWED. THANK YOU Approval of the protocol and justification of merger, entered into by the officers of the company and by the management of Deca Nordeste, in regard to the merger of the equity of Deca Nordeste into the company Ratification of the appointment of the specialized company Moore Stephens Lima Lucchesi auditors independents, from here onwards Moore Stephens, to value the equity of Deca Nordeste to be merged into the company, as well as the approval of the valuation report of the equity of Deca Nordeste prepared by Moore Stephens Approval of the merger of Deca Nordeste into the company, in accordance with the terms of the protocol and justification of merger Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 30, Aug-2011 Page 4 of 92

6 GLOBAL EMERGING MARKETS SECTOR Investment Company Report MILLS ESTRUTURAS E SERVICOS DE ENGENHARIA SA, RIO Security P6799C108 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 01-Aug-2011 ISIN BRMILSACNOR2 Agenda IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF-ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTI-ONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECT-ED. IF YOU HAVE ANY QUESTIONS, PLEASE ACT YOUR CLIENT SERVICE REPRESENT- ATIVE 1 To ratify the appointment of the specialized company Deloitte Touche Tohamatsu Auditores Independentes, with corporate taxpayer id number and with Sao Paulo state accounting registration number o.8 F RJ, from here onwards the valuation company, appointed in the protocol and justification of merger, as defined below, as the company responsible for the preparation of the valuation report for the equity at book value of GP Andaimes Sul Locadora Ltda. a limited company, with corporate taxpayer id number , from here onwards GP Sul, for the purpose of its merger into the company, from here onwards the valuation report 2 Approve Agreement to Absorb GP Andaimes Sul Locadora Ltda 3 Approve Independent Firm's Appraisal 4 Approve Absorption of GP Andaimes Sul Locadora Ltda 5 Election of Jorge Marques de Toledo Camargo as Independent Director PLEASE NOTE THAT THIS IS A REVISION DUE TO MODIFICATION OF TEXT IN RESOLUTIONS-1 AND 5 AND CHANGE IN MEETING TYPE FROM SGM TO EGM. IF YOU HAVE ALREADY SENT-IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY FORM UNLESS YOU DECIDE TO AMEND- YOUR ORIGINAL INSTRUCTIONS. THANK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 18, Aug-2011 Page 5 of 92

7 GLOBAL EMERGING MARKETS SECTOR Investment Company Report MILLS ESTRUTURAS E SERVICOS DE ENGENHARIA SA, RIO Security P6799C108 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 01-Aug-2011 ISIN BRMILSACNOR2 Agenda IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF-ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING-INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO-BE REJECTED. IF YOU HAVE ANY QUESTIONS, PLEASE ACT YOUR CLIENT SERVICE- REPRESENTATIVE PLEASE NOTE THAT VOTES 'IN FAVOR' AND 'AGAINST' IN THE SAME AGENDA ITEM ARE- NOT ALLOWED. ONLY VOTES IN FAVOR AND/OR ABSTAIN OR AGAINST AND/ OR ABSTAIN-ARE ALLOWED. THANK YOU 1 To vote regarding the amendment of the corporate bylaws of the company in accordance with the proposal of bylaws amendment approved by the board of directors on July 14, 2011, and their consolidation Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 18, Aug-2011 Page 6 of 92

8 GLOBAL EMERGING MARKETS SECTOR Investment Company Report NASPERS LTD Security S Meeting Type Annual General Meeting Ticker Symbol Meeting 26-Aug-2011 ISIN ZAE Agenda O.1 Approval of annual financial statements O.2 Confirmation and approval of payment of dividends O.3 Reappointment of PricewaterhouseCoopers Inc. as auditor O.4.1 To elect Adv F-A du Plessis as a director O.4.2 To elect Prof G J Gerwel as a director O.4.3 To elect Mr T M F Phaswana as a director O.4.4 To elect Mr B J van der Ross as a director O.4.5 To elect Mr J J M van Zyl as a director O.5.1 Appointment of Adv F-A du Plessis as a audit committee member O.5.2 Appointment of Prof R C C Jafta as a audit committee member O.5.3 Appointment of Mr B J van der Ross as a audit committee member O.5.4 Appointment of Mr J J M van Zyl as a audit committee member O.6 To endorse the company's remuneration policy O.7 Approval of general authority placing unissued shares under the control of the directors O.8 Approval of issue of shares for cash O.9 Approval of amendments to the trust deed of the Naspers Share Incentive Scheme O.10 Authorisation to implement all resolutions adopted at annual general meeting PLEASE NOTE THAT THE BELOW RESOLUTIONS ARE PROPOSED FOR 31 MAR THANK YOU-. S.111 Approval of the remuneration of the non- executive director: Naspers representatives on Media24 safety, health and environmental committee S.112 Approval of the remuneration of the non- executive director: Trustees of group share schemes/other personnel Fund S.113 Approval of the remuneration of the non- executive director: Chair of Media24 pension fund S.114 Approval of the remuneration of the non- executive director: Trustees of Media24 pension fund PLEASE NOTE THAT THE BELOW RESOLUTIONS ARE PROPOSED FOR 31 MAR 2012 S.1.1 Approval of the remuneration of the non- executive director: Board - chair S.1.2 Approval of the remuneration of the non- executive director: Board - member S.1.3 Approval of the remuneration of the non- executive director: Audit committee - chair S.1.4 Approval of the remuneration of the non- executive director: Audit committee - member S.1.5 Approval of the remuneration of the non- executive director: Risk committee - chair S.1.6 Approval of the remuneration of the non- executive director: Risk committee - member S.1.7 Approval of the remuneration of the non- executive director: Human resources committee - chair S.1.8 Approval of the remuneration of the non- executive director: Human resources committee - member S.1.9 Approval of the remuneration of the non- executive director: Nomination committee - chair S.110 Approval of the remuneration of the non- executive director: Nomination committee - member S.111 Approval of the remuneration of the non- executive director: Naspers representatives on the Media24 safety, health and environmental committee S.112 Approval of the remuneration of the non- executive director: Trustees of group share schemes/other personnel Funds S.113 Approval of the remuneration of the non- executive director: Chair of Media24 pension fund Page 7 of 92

9 GLOBAL EMERGING MARKETS SECTOR Investment Company Report S.114 Approval of the remuneration of the non- executive director: Trustees of Media24 pension fund PLEASE NOTE THAT THE BELOW RESOLUTIONS ARE PROPOSED FOR 31 MAR THANK YOU-. S.1.1 Approval of the remuneration of the non- executive director: Board - chair S.1.2 Approval of the remuneration of the non- executive director: Board - member S.1.3 Approval of the remuneration of the non- executive director: Audit committee - chair S.1.4 Approval of the remuneration of the non- executive director: Audit committee - member S.1.5 Approval of the remuneration of the non- executive director: Risk committee - chair S.1.6 Approval of the remuneration of the non- executive director: Risk committee - member S.1.7 Approval of the remuneration of the non- executive director: Human resources committee - chair S.1.8 Approval of the remuneration of the non- executive director: Human resources committee - member S.1.9 Approval of the remuneration of the non- executive director: Nomination committee - chair S.110 Approval of the remuneration of the non- executive director: Nomination committee - member S.111 Approval of the remuneration of the non- executive director: Naspers representatives on the Media24 safety, health and environmental committee S.112 Approval of the remuneration of the non- executive director: Trustees of group share schemes/other personnel Funds S.113 Approval of the remuneration of the non- executive director: Chair of Media24 pension fund S.114 Approval of the remuneration of the non- executive director: Trustees of Media24 pension fund S.2 Approve generally the provision of financial assistance S.3 General authority for the company or its subsidiaries to acquire N ordinary shares in the company S.4 General authority for the company or its subsidiaries to acquire A ordinary shares in the company S.5 Approval of issue of shares, options and rights to Naspers share-based incentive schemes and participants PLEASE NOTE THAT THIS IS A REVISION DUE TO MODIFICATION OF TEXT IN RESOLUTION-5.1. IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY F-ORM UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 6, Aug Aug-2011 Page 8 of 92

10 GLOBAL EMERGING MARKETS SECTOR Investment Company Report CHINA OVERSEAS GRAND OCEANS GROUP LTD Security Y1505S117 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 26-Aug-2011 ISIN HK Agenda PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf PLEASE NOTE IN THE HONG KONG MARKET THAT A VOTE OF "ABSTAIN" WILL BE TREATED T-HE SAME AS A "TAKE NO ACTION" VOTE. 1 To consider and approve the issue of the Bonus (as defined in the circular of the Company dated 10 August 2011 relating to, inter alia, the proposed bonus shares issue) 2 To re-elect Mr. Wang Man Kwan, Paul as director of the Company Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 100, Aug-2011 Page 9 of 92

11 GLOBAL EMERGING MARKETS SECTOR Investment Company Report DISH TV INDIA LTD Security Y2076S114 Meeting Type Annual General Meeting Ticker Symbol Meeting 30-Aug-2011 ISIN INE836F01026 Agenda To receive, consider and adopt the Audited Balance Sheet of the Company as at March 31, 2011, the Profit & Loss for the Financial Year ended on that date on a stand-alone and consolidated basis and the Reports of the Auditors' and Board of Directors' thereon 2 To appoint a Director in place of Mr. Ashok Mathai Kurien, who retires by rotation and being eligible, offers himself for re-appointment 3 To appoint a Director in place of Mr. Bhagwan Dass Narang, who retires by rotation and being eligible, offers himself for re-appointment 4 To appoint M/s B S R & Co., Chartered ants, Gurgaon, having Firm Registration No W, as the Statutory Auditors of the Company to hold such office from the conclusion of this meeting until the conclusion of next Annual General Meeting at a remuneration to be determined by the Board of Directors of the Company 5 Resolved that pursuant to the approval of the Selection Committee and the Board of Directors of the Company, provisions of Section 314(1B) and other applicable provisions, if any, of the Companies Act, 1956 (including any statutory modification or re-enactment thereof) read with Director's Relatives (Office or Place of Profit) Rules, 2011 and subject to the approval of the Central Government, Mr. Gaurav Goel, relative of Mr. Subhash Chandra, Chairman and Mr. Jawahar Lal Goel, Managing Director, of the Company, be and is hereby appointed in the Company to hold an Office or Place of Profit as 'Zonal Head - Delhi Zone' with effect from October 1, 2011 (or any other designation and roles which the 'Board' - the term which shall include any committee thereof, as may decide from time to time) at a remuneration of INR 32,40,000 CONTD CONT CONTD (Rupees Thirty Two Lacs and Forty Thousand) per annum and such otherterms (including any increase or modification in remuneration during the-period of appointment as may be approved by the Board from time to time), as-detailed in the Explanatory statement attached to this Notice. resolved-further that upon commencement of employment of Mr. Gaurav Goel with the-company, which shall be upto his retirement age as per the policy of the-company, Mr. Gaurav Goel will also be eligible for all other perquisites and-benefits including medical benefits, group medical insurance, gratuity, leave-encashment and other benefits as per the policy of the Company, applicable to-other employees of the Company under similar cadre/grade, but such benefits-shall exclude Stock Options under the ESOP Scheme of the Company. resolved- CONTD CONT CONTD further that subject to the approval by the Board of Directors, Mr.-Gaurav Goel shall also be entitled to merit based annual increment not-exceeding 25% of remuneration per annum, promotion, incentive/performance-linked bonus from time to time as per the policy of the Company. resolved-further that the appointment of Mr. Gaurav Goel and terms thereof will be- subject to such modification as the Central Government may suggest or require-which the Board of Directors are hereby authorized to accept on behalf of the-company. resolved further that the Board be and is hereby authorized to do-all such acts, deeds and things and execute and file all such applications,- documents, instruments and writings as may be required and to delegate all or-any of its powers herein conferred to any Committee of CONTD CONT CONTD Directors or any Director or Officer to give effect to the aforesaid-resolution Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 70, Aug Aug-2011 Page 10 of 92

12 GLOBAL EMERGING MARKETS SECTOR Investment Company Report MONGOLIAN MINING CORP, GRAND CAYMAN Security G6264V102 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 31-Aug-2011 ISIN KYG6264V1023 Agenda PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf PLEASE NOTE THAT SHAREHOLDERS ARE ALLOWED TO VOTE 'IN FAVOR' OR 'AGAINST'-ONLY FOR RESOLUTIONS 1 AND 2. THANK YOU. 1 That (a) the Service Agreement (as defined in the circular of the Company dated 12 August 2011 (the "Circular") of which this notice forms part) entered into between the Company and its subsidiaries (the "Group") and Uniservice Solution LLC ("Uniservice Solution") (a copy of the Service Agreement was tabled at the meeting marked "A" and signed by the Chairman for the purpose of identification) pursuant to which Uniservice Solution provides office and camp supporting services to the Group and the annual caps and the transactions contemplated thereunder be and is hereby approved, ratified and confirmed; (b) the Sale and Purchase Agreement (as defined in the Circular of which this notice forms part) entered into between Energy Resources LLC, Enrestechnology LLC, Transgobi LLC, Ukhaa Khudag Water Supply LLC and CONTD CONT CONTD Uniservice Solution (a copy of the Sale and Purchase Agreement wastabled at the meeting marked "B" and signed by the Chairman for the purpose-of identification) pursuant to which Energy Resources LLC, Enrestechnology- LLC, Transgobi LLC, Ukhaa Khudag Water Supply LLC sell and Uniservice-Solution purchase the Assets (as defined in the Circular) and the-transactions contemplated thereunder be and is hereby approved, ratified and-confirmed; and (c) any one director of the Company be and is hereby-authorised to execute all documents, do all acts and things and take all-steps which in his/her opinion he/she may consider necessary, desirable and-expedient for the implementation of and giving effect to the Service-Agreement and the Sale and Purchase Agreement and the transaction-contemplated thereunder 2 That (a) the Fuel Supply Agreement (as defined in the Circular of which this notice forms part) entered into between the Group and NIC LLC ("NIC") (a copy of the Fuel Supply Agreement was tabled at the meeting marked "C" and signed by the Chairman for the purpose of identification) pursuant to which NIC supply fuel products to the Group and the annual caps and the transactions contemplated thereunder be and is hereby approved, ratified and confirmed; and (b) any one director of the Company be and is hereby authorised to execute all documents, do all acts and things and take all steps which in his/her opinion he/she may consider necessary, desirable and expedient for the implementation of and giving effect to the Fuel Supply Agreement and the transaction contemplated thereunder Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 198, Aug Aug-2011 Page 11 of 92

13 GLOBAL EMERGING MARKETS SECTOR Investment Company Report FOSCHINI LTD Security S Meeting Type Annual General Meeting Ticker Symbol Meeting 05-Sep-2011 ISIN ZAE Agenda O.1 Presentation of annual financial statements O.2 That upon the recommendation of the board audit committee, KPMG Inc. be reappointed as auditors (and Mr. H du Plessis as the designated partner) of the company until the following annual general meeting O.3 Election of Prof. F Abrahams as a director O.4 Election of Mr. E Oblowitz as a director O.5 Election of Ms. N V Simamane as a director O.6 Election of Mr. R Stein as a director O.7 Election of Mr. S E Abrahams as a member of the audit committee O.8 Election of Mr. W V Cuba as a member of the audit committee O.9 Election of Mr. E Oblowitz as a member of the audit committee O.10 Election of Ms. N V Simamane as a member of the audit committee O.11 Non-binding advisory vote on remuneration policy S.1 Non-executive directors' remuneration S.2 Financial assistance S.3 General authority to acquire shares O.12 General authority of directors PLEASE NOTE THAT THIS IS A REVISION DUE TO MODIFICATION IN THE TEXT OF THE RES-OLUTIONS 2, 3 AND 4. IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RET-URN THIS PROXY FORM UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THA-NK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 26, Aug Aug-2011 Page 12 of 92

14 GLOBAL EMERGING MARKETS SECTOR Investment Company Report BANCO DO BRASIL SA BB BRASIL, BRASILIA Security P Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 06-Sep-2011 ISIN BRBBASACNOR3 Agenda IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF-ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING-INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO-BE REJECTED. IF YOU HAVE ANY QUESTIONS, PLEASEACT YOUR CLIENT SERVICE- REPRESENTATIVE 1 Ratification of the increase of the share capital of Banco Do Brasil S.A. in reference to the final exercise of the series C warrants 2 Amendment of article 7 of the corporate bylaws as a consequence of the capital increase provided for in item 1 3 Amendment of articles 21 and 51 of the corporate bylaws, as a result of the change to the novo mercado listing regulations of the BM and Fbovespa 4 Amendment of articles 18, 21 and 29 of the corporate bylaws, as a result of the inclusion of a representative of the employees on the board of directors, Law 12, , and of the possibility of the election of a nonshareholder to the board of directors, Law 12, Amendment of article 50 of the corporate bylaws to include liquidity risk within the scope of the outside auditing work provided for in that article PLEASE NOTE THAT THIS IS A REVISION DUE TO RECEIPT OF ADDITIONAL INFORMATION.-IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY FORM U-NLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU. PLEASE NOTE THAT VOTES 'IN FAVOR' AND 'AGAINST' IN THE SAME AGENDA ITEM ARE NO-T ALLOWED. ONLY VOTES IN FAVOR AND/OR ABSTAIN OR AGAINST AND/ OR ABSTAIN ARE A-LLOWED. THANK YOU Abstain Against Abstain Against Abstain Against Abstain Against Abstain Against Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 19, Aug Aug-2011 Page 13 of 92

15 GLOBAL EMERGING MARKETS SECTOR Investment Company Report CHINA OVERSEAS GRAND OCEANS GROUP LTD Security Y1505S117 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 07-Sep-2011 ISIN HK Agenda PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf PLEASE NOTE IN THE HONG KONG MARKET THAT A VOTE OF "ABSTAIN" WILL BE TREATED T-HE SAME AS A "TAKE NO ACTION" VOTE. 1 To consider and approve the refreshment of the share issue mandate 2 To consider and approve the refreshment of the share repurchase mandate 3 To consider and approve the extension of the refreshed share issue mandate Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 150, Sep Sep-2011 Page 14 of 92

16 GLOBAL EMERGING MARKETS SECTOR Investment Company Report CHINA MERCHANTS BANK CO LTD, SHENZEN Security Y Meeting Type Class Meeting Ticker Symbol Meeting 09-Sep-2011 ISIN CNE M1 Agenda PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING ID DUE TO RECEIPT OF P-AST RECORD DATE. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDE-D AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU. PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf 1.1 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Class and Par Value of the to be issued 1.2 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Ratio and Number of the to be issued 1.3 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Subscription Price 1.4 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Target Subscribers 1.5 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Use of Proceeds 1.6 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Authorisation to the Board 1.7 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Validity of these Special Resolutions Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 138, Sep Sep-2011 Page 15 of 92

17 GLOBAL EMERGING MARKETS SECTOR Investment Company Report CHINA MERCHANTS BANK CO LTD, SHENZEN Security Y Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 09-Sep-2011 ISIN CNE M1 Agenda PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING ID DUE TO ADDITION OF-RESOLUTIONS. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDED AN-D YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU. PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf an-d /LTN pdf 1.1 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Class and Par Value of the to be issued 1.2 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Ratio and Number of the to be issued 1.3 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Subscription Price 1.4 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Target Subscribers 1.5 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Use of Proceeds 1.6 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Authorisation to the Board 1.7 To consider and approve the resolution regarding the Rights Issue of A and H by China Merchants Bank Co., Ltd.: Validity of these Special Resolutions 2 To consider and approve the "Proposal in relation to Undistributed Profits prior to the Completion of the Rights Issue of China Merchants Bank Co., Ltd" 3 To consider and approve the "Proposal regarding the Use of Proceeds to be raised from the Rights Issue of A and H by China Merchants Bank Co., Ltd" 4 To consider and approve the "Proposal regarding the report on the Use of Proceeds from the Previous Fund Raising by China Merchants Bank Co., Ltd" 5 To consider and approve the "Proposal on the Mid-term Capital Plan of China Merchants Bank Co., Ltd. (2011 Revised)" 6 To consider and approve the "Proposal in relation to the Addition of Independent Director of China Merchants Bank" 7 To consider and approve the "Proposal in relation to the Addition of External Supervisor of China Merchants Bank" Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 138, Aug Sep-2011 Page 16 of 92

18 GLOBAL EMERGING MARKETS SECTOR Investment Company Report ALLIANCE GLOBAL GROUP,INC Security Y Meeting Type Annual General Meeting Ticker Symbol Meeting 20-Sep-2011 ISIN PHY Agenda PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING ID DUE TO RECEIPT OF D-IRECTORS' NAMES. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDE-D AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU. 1 Call to order 2 Certification of notice and quorum 3 Approval of the minutes of the annual meeting of stockholders held on 05 October Report of management for year Appointment of independent auditors 6 Ratification of acts of the Board of Directors, Board Committees and Officers for the year Approval of stock option plan 8.1 Election of Andrew L. Tan as a Director 8.2 Election of Sergio R. Ortiz-Luis, Jr as an Independent Director 8.3 Election of Kingson U. Sian as a Director 8.4 Election of Katherine L. Tan as a Director 8.5 Election of Winston S. Co as a Director 8.6 Election of Renato M. Piezas as a Director 8.7 Election of Alejo L. Villanueva, Jr as an Independent Director 9 Other matters For Against 10 Adjournment Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 583, Sep Sep-2011 Page 17 of 92

19 GLOBAL EMERGING MARKETS SECTOR Investment Company Report L'OCCITANE INTERNATIONAL SA, LUXEMBOURG Security L6071D109 Meeting Type Annual General Meeting Ticker Symbol Meeting 30-Sep-2011 ISIN LU Agenda To receive and adopt the statutory accounts and audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended 31 March To declare a final dividend for the year ended 31 March i Re-elect Mr. Thomas Levilion as a retiring director of the Company for a term of 3 years 3.ii Re-elect Mr. Pierre Maurice Georges Milet as a retiring director of the Company for a term of 3 years 3.iii Re-elect Mr. Charles Mark Broadley as a retiring director of the Company for a term of 3 years 3.iv Re-electMrs. Susan Saltzbart Kilsby as a retiring director of the Company for a term of 3 years 3.v Re-elect Mr. Jackson Chik Sum Ng as a retiring director of the Company for a term of 3 years 4 To elect Mr. Domenico Trizio as a new executive director of the Company for a term of 3 years 5.A To give a general mandate to the directors to allot, issue and deal with additional shares not exceeding 20% of the issued share capital of the Company 5.B To give a general mandate to the directors to repurchase shares not exceeding 10% of the issued share capital of the Company 5.C To extend the authority given to the directors pursuant to ordinary resolution no. 5 (A) to issue shares by adding to the issued share capital of the Company the number of shares repurchased under ordinary resolution no. 5(B) 6 To authorise the board of directors to fix the remuneration of the directors 7 To re-appoint PricewaterhouseCoopers as auditors of the Company and authorise the board of directors to fix their remuneration 8 To grant discharge for the Directors for the exercise of their mandate during the financial year ended 31 March To grant discharge for the auditors for the exercise of their mandate during the financial year ended 31 March 2011 PLEASE NOTE THAT THIS IS A REVISION DUE TO CHANGE IN MARKET RULES AND ADDTION-OF RECORD DATE. IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN T-HIS PROXY FORM UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YO-U. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 31, Aug Sep-2011 Page 18 of 92

20 GLOBAL EMERGING MARKETS SECTOR Investment Company Report L'OCCITANE INTERNATIONAL SA, LUXEMBOURG Security L6071D109 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 30-Sep-2011 ISIN LU Agenda To approve the proposed amendments to the articles of association of the Company as detailed in the circular of the Company dated 25 August 2011 PLEASE NOTE THAT THIS IS A REVISION DUE TO CHANGE IN MARKET RULES AND ADDTION-OF RECORD DATE. IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN T-HIS PROXY FORM UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YO-U. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 31, Aug Sep-2011 Page 19 of 92

21 GLOBAL EMERGING MARKETS SECTOR Investment Company Report SHANDONG WEIGAO GROUP MEDICAL POLYMER CO LTD Security Y Meeting Type Special General Meeting Ticker Symbol Meeting 10-Oct-2011 ISIN CNE Agenda To consider and approve the appointment of Ms. Fu Mingzhong as an independent non-executive director of the Company 2 To consider and approve the distribution of interim dividend of RMB per share for the six months ended 30 June 2011 to be distributed to all shareholders whose names appear on the register of members of the Company on 14 October 2011 PLEASE NOTE THAT SHAREHOLDERS ARE ALLOWED TO VOTE 'IN FAVOR' OR 'AGAINST' ONLY-FOR RESOLUTIONS "1 AND 2". THANK YOU. PLEASE NOTE THAT THIS IS A REVISION DUE TO ADDITION OF VOTING OPTION COMMENT.-IF YOU HAVE ALREADY SENT IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY FORM U-NLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU. Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 192, Sep Oct-2011 Page 20 of 92

22 GLOBAL EMERGING MARKETS SECTOR Investment Company Report HYPERMARCAS SA, SAO PAULO Security P5230A101 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 10-Oct-2011 ISIN BRHYPEACNOR0 Agenda I II III IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF-ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING-INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO-BE REJECTED. IF YOU HAVE ANY QUESTIONS, PLEASEACT YOUR CLIENT SERVICE- REPRESENTATIVE PLEASE NOTE THAT VOTES 'IN FAVOR' AND 'AGAINST' IN THE SAME AGENDA ITEM ARE- NOT ALLOWED. ONLY VOTES IN FAVOR AND/OR ABSTAIN OR AGAINST AND/ OR ABSTAIN-ARE ALLOWED. THANK YOU Approval of the new stock option plan: Approval of a new stock option plan, in accordance with that which was resolved on at the meeting of the Board of Directors of the company that was held on September 21, 2011, from here onwards plan III Amendment to the corporate bylaws of the company: Amendment to the corporate bylaws of the company to adapt them to the rules provided for in the Novo Mercado Listing Regulations that went into effect on May 10, 2011 Authorization to the managers: Authorization for the Managers of the company to do all the acts necessary to carry out the resolutions proposed and approved by the shareholders of the company Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 30, Sep Oct-2011 Page 21 of 92

23 GLOBAL EMERGING MARKETS SECTOR Investment Company Report HYPERMARCAS SA, SAO PAULO Security P5230A101 Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 24-Oct-2011 ISIN BRHYPEACNOR0 Agenda I II PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING ID DUE TO CHANGE IN ME-ETING DATE AND DELETION OF RESOLUTION. ALL VOTES RECEIVED ON THE PREVIOUS MEET-ING WILL BE DISREGARDED AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE-. THANK YOU. IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF AT-TORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTION-S IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED-. IF YOU HAVE ANY QUESTIONS, PLEASEACT YOUR CLIENT SERVICE REPRESENTATIVE PLEASE NOTE THAT VOTES 'IN FAVOR' AND 'AGAINST' IN THE SAME AGENDA ITEM ARE NO-T ALLOWED. ONLY VOTES IN FAVOR AND/OR ABSTAIN OR AGAINST AND/ OR ABSTAIN ARE A-LLOWED. THANK YOU Amendment to the corporate bylaws of the company. Amendment to the corporate bylaws of the company to adapt them to the rules provided for in the Novo Mercado listing regulations that went into effect on May 10, 2011 Authorization to the managers. Authorization the managers of the company to do all the acts necessary to carry out the resolutions proposed and approved by the shareholders of the company Abstain Against Abstain Against Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 30, Oct Oct-2011 Page 22 of 92

24 GLOBAL EMERGING MARKETS SECTOR Investment Company Report CHINA STATE CONSTRUCTION INTERNATIONAL HOLDINGS LT Security G Meeting Type ExtraOrdinary General Meeting Ticker Symbol Meeting 26-Oct-2011 ISIN KYG Agenda PLEASE NOTE THAT THE COMPANY NOTICE IS AVAILABLE BY CLICKING ON THE URL LINK: /LTN pdf PLEASE NOTE THAT SHAREHOLDERS ARE ALLOWED TO VOTE 'IN FAVOR' OR 'AGAINST'-ONLY FOR ALL RESOLUTIONS. THANK YOU. 1 To approve, confirm and ratify the CSCECL Sub- construction Engagement Agreement (as defined in the circular of the Company dated 7 October 2011 (the "Circular")) and the transactions contemplated thereunder and the implementation thereof; to approve the CSCECL Sub- construction Engagement Cap (as defined in the Circular); to approve the CSC Sub-construction Engagement Cap (as defined in the Circular); and to authorise any one director of the Company (or any two directors of the Company if the affixing of the common seal is necessary) for and on behalf of the Company to execute all such other documents, instruments and agreements and to do all such acts or things deemed by him to be incidental to, ancillary to or in connection with the matters contemplated in the CSCECL Subconstruction Engagement Agreement and the transactions contemplated thereunder and the implementation thereof including the affixing of common seal thereon 2 To approve, confirm and ratify the COHL Construction Engagement Agreement (as defined in the Circular) and the transactions contemplated thereunder and the implementation thereof; to approve the COHL Construction Engagement Cap (as defined in the Circular); and to authorise any one director of the Company (or any two directors of the Company if the affixing of the common seal is necessary) for and on behalf of the Company to execute all such other documents, instruments and agreements and to do all such acts or things deemed by him to be incidental to, ancillary to or in connection with the matters contemplated in the COHL Construction Engagement Agreement and the transactions contemplated thereunder and the implementation thereof including the affixing of common seal thereon Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 190, Oct Oct-2011 Page 23 of 92

25 GLOBAL EMERGING MARKETS SECTOR Investment Company Report SHOPRITE HOLDINGS LTD (SHP) Security S Meeting Type Annual General Meeting Ticker Symbol Meeting 31-Oct-2011 ISIN ZAE Agenda O.1 Adoption of the annual financial statements O.2 Re-appointment of PricewaterhouseCoopers as auditors O.3 Re-election of Dr CH Wiese O.4 Re-election of Mr JA Louw O.5 Re-election of Mr JF Malherbe O.6 Re-election of Mr BR Weyers O.7 Appointment of Mr JG Rademeyer as Chairperson and member of the Shoprite Holding Audit Committee O.8 Appointment of Mr JA Louw as member of the Shoprite Holdings Audit Committee O.9 Appointment of Mr JF Malherbe as member of the Shoprite Holdings Audit Committee O.10 Endorsement of the Remuneration Policy O.11 General authority over unissued shares O.12 General authority to issue shares for cash S.1 General approval of remuneration payable to non-executive directors S.2 General approval of financial assistance to subsidiaries related and inter-related entities S.3 General approval to repurchase shares O.13 General authority to directors Number GLOBAL EMERGING MARKETS SECTOR CITIBANK, N.A. 21, Oct Oct-2011 Page 24 of 92

26 GLOBAL EMERGING MARKETS SECTOR Investment Company Report IRSA INVERSIONES Y REPRESENTACIONES S.A. Security Meeting Type Special Ticker Symbol IRS Meeting 31-Oct-2011 ISIN US Agenda APPOINTMENT OF TWO SHAREHOLDERS TO SIGN THE MINUTES OF THE For SHAREHOLDERS' MEETING. 02 CONSIDERATION OF THE SET OF DOCUMENTS REFERRED TO IN SECTION For 234, SUBSECTION 1, LAW 19,550, CORRESPONDING TO FISCAL YEAR ENDED CONSIDERATION OF THE PERFORMANCE OF THE BOARD OF DIRECTORS. For 04 CONSIDERATION OF THE PERFORMANCE OF THE SUPERVISORY For COMMITTEE. 05 TREATMENT AND ALLOCATION OF THE PROFIT FOR THE FISCAL YEAR For ENDED ON , WHICH POSTED PROFITS IN THE AMOUNT OF $282,104,000. CONSIDERATION OF PAYMENT OF A DIVIDEND IN CASH UP TO AN AMOUNT EQUIVALENT TO $56,420,800. DELEGATION OF THE IMPLEMENTATION THEREOF. 06 CONSIDERATION OF THE COMPENSATION TO THE BOARD OF DIRECTORS For FOR THE FISCAL YEAR ENDED ON , IN THE AMOUNT OF $23,442,577. (TOTAL FOR COMPENSATIONS), $8,870,508 IN EXCESS OF THE LIMIT OF 5% (FIVE PER CENT) OF THE EARNINGS, INCREASED PURSUANT TO SECTION 261, LAW 19,550 AND THE REGULATIONS OF THE ARGENTINE SECURITIES EXCHANGE COMMISSION, IN THE FACE OF THE PROPOSED AMOUNT OF DIVIDEND DISTRIBUTION. DELEGATION OF THE APPROVAL OF THE AUDITING COMMITTEE'S BUDGET TO THE BOARD OF DIRECTORS. 07 CONSIDERATION OF THE COMPENSATION TO THE SUPERVISORY For COMMITTEE FOR THE FISCAL YEAR ENDED ON DETERMINATION OF THE NUMBER AND APPOINTMENT OF REGULAR For DIRECTORS AND ALTERNATE DIRECTORS, IF APPLICABLE. 09 APPOINTMENT OF REGULAR AND ALTERNATE MEMBERS OF THE For SUPERVISORY COMMITTEE. 10 APPOINTMENT OF CERTIFYING ACCOUNTANT FOR THE NEXT FISCAL YEAR For AND DETERMINATION OF HIS/ HER COMPENSATION. 11 UPDATING OF REPORT ON SHARED SERVICES AGREEMENT. For 12 TREATMENT OF AMOUNTS PAID AS SHAREHOLDERS' PERSONAL ASSETS For TAX. 13 CONSIDERATION OF CREATION OF A GLOBAL PROGRAM FOR ISSUANCE OF SIMPLE, NON-CONVERTIBLE NOTES, WITH OR WITHOUT SECURITY INTEREST OR SECURED BY THIRD PARTIES, & FOR A MAXIMUM OUTSTANDING AMOUNT, AT ANY TIME, OF UP TO USD 300,000,000 (OR EQUIVALENT THEREOF IN OTHER CURRENCY), PURSUANT TO PROVISIONS OF LAW 23,576 GOVERNING NOTES & OTHER PROVISIONS AMENDING AND REGULATING THEREOF (THE "PROGRAM"). DELEGATION TO BOARD OF DIRECTORS OF THE BROADEST POWERS TO ESTABLISH THE TIME AND CURRENCY OF ISSUANCE, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT. For Page 25 of 92