MEGACHEM LIMITED Registration No.198803293M
RESULTS OF THE ANNUAL GENERAL MEETING
Pursuant to Rule 704(15) of the Listing Manual of the Singapore Exchange Securities Trading Limited Section B: Rules of Catalist (the "Catalist Rules"), the Board of Directors of Megachem Limited (the "Company") wishes to announce that at the Annual General Meeting ("AGM") of the Company held via electronic means on 18 April 2022, all the resolutions as set out in the Notice of Annual General Meeting dated 1 April 2022 put to vote at the AGM were duly passed.
(a)The results of the poll on each the resolutions put to vote at the AGM are set out below:-
Resolution number and details | Total number of shares represented by votes for and against the relevant resolution | For | Against | ||
Number of shares | As a percentage of total number of votes for and against the resolution (%) | Number of shares | As a percentage of total number of votes for and against the resolution (%) | ||
Ordinary Business | |||||
(Resolution 1) To receive and adopt the Statement by Directors and Audited Financial Statements of the Company for the financial year ended 31 December 2021 together with the Auditor's Report thereon. | 116,588,747 | 91,138,607 | 78.17 % | 25,450,140 | 21.83 % |
(Resolution 2) To declare a final tax exempt dividend of 1.2 cent per share for the financial year ended 31 December 2021. | 116,588,747 | 116,573,690 | 99.99 % | 15,057 | 0.01 % |
(Resolution 3) To approve Directors' fees of S$202,000 for the financial year ending 31 December 2022. | 116,588,747 | 116,573,690 | 99.99 % | 15,057 | 0.01 % |
(Resolution 4) To re-elect Mr Chew Choon Tee pursuant to Regulation 117 of the Company's Constitution. | 69,513,231 | 44,063,091 | 63.39 % | 25,450,140 | 36.61 % |
Results of the Annual General Meeting Page 2
Resolution number and details | Total number of shares represented by votes for and against the relevant resolution | For | Against | ||
Number of shares | As a percentage of total number of votes for and against the resolution (%) | Number of shares | As a percentage of total number of votes for and against the resolution (%) | ||
(Resolution 5) To re-elect Mr Chan Kam Loon pursuant to Regulation 117 of the Company's Constitution. | 91,153,664 | 91,138,607 | 99.98 % | 15,057 | 0.02 % |
(Resolution 6) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders. | 91,153,664 | 91,138,607 | 99.98 % | 15,057 | 0.02 % |
(Resolution 7) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates). | 44,078,148 | 44,063,091 | 99.97 % | 15,057 | 0.03 % |
(Resolution 8) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders. | 116,588,747 | 116,573,690 | 99.99 % | 15,057 | 0.01 % |
(Resolution 9) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates). | 44,078,148 | 44,063,091 | 99.97 % | 15,057 | 0.03 % |
Results of the Annual General Meeting Page 3
Resolution number and details | Total number of shares represented by votes for and against the relevant resolution | For | Against | ||
Number of shares | As a percentage of total number of votes for and against the resolution (%) | Number of shares | As a percentage of total number of votes for and against the resolution (%) | ||
(Resolution 10) To re-appoint Messrs RSM Chio Lim LLP as auditors of the Company and to authorise the Directors to fix their remuneration. | 116,588,747 | 116,588,747 | 100.00 % | 0 | 0.00 % |
(Resolution 11) To authorise Directors to issue shares pursuant to Section 161 of the Companies Act 1967. | 116,588,747 | 91,138,607 | 78.17 % | 25,450,140 | 21.83 % |
(Resolution 12) To approve the renewal of Interested Person Transactions Mandate. | 74,112,077 | 74,097,020 | 99.98 % | 15,057 | 0.02 % |
(b)
Details of parties who are required to abstain from voting on any resolution(s)
Resolution no. and details | Name | No. of shares held |
(Resolution 4) To re-elect Mr Chew Choon Tee pursuant to Regulation 117 of the Company's Constitution. | Chew Choon Tee | 47,075,716 ¹ |
(Resolution 7) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates). | Chew Choon Tee | 47,075,716 ¹ |
Tan Bock Chia | 25,435,083 ² |
Results of the Annual General Meeting Page 4
(Resolution 9) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates). | Chew Choon Tee | 47,075,716 ¹ |
Tan Bock Chia | 25,435,083 ² | |
(Resolution 12) To approve the renewal of Interested Person Transactions Mandate. | Chori Co., Ltd | 39,976,670 ³ |
¹ 9,000,000 ordinary shares of Chew Choon Tee are held through nominees.
² 25,435,083 ordinary shares of Tan Bock Chia are held through nominees.
³ The 39,976,670 ordinary shares are held under the custodian account of Chori Co., Ltd. maintained with Citibank Nominees Singapore Pte. Ltd.
(c) Name of firm appointed as Scrutineer
Entrust Advisory Pte. Ltd. was appointed as Scrutineer for the AGM.
Statement Pursuant to Rule 704(7) of the Catalist Rules
Mr Chan Kam Loon, having been re-elected as a Director of the Company, continues to serve as an Independent Director, Chairman of the Audit Committee and as member of the Nominating Committee and Remuneration Committee. Mr Chan Kam Loon is considered independent for the purpose of Rule 704(7) of the Catalist Rules.
Dr Tay Kin Bee, having been re-elected as an Independent Director of the Company, continues to serve as an Independent Director, Chairman of the Remuneration Committee and as member of the Audit Committee. Dr Tay Kin Bee is considered independent for the purpose of Rule 704(7) of the Catalist Rules.
By order of the Board
Chew Choon Tee Managing Director
18 April 2022
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.
The contact person for the Sponsor is Ms Tay Sim Yee (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
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Megachem Limited published this content on 18 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2022 09:53:05 UTC.