(Company Registration No. 200004436E)
(Incorporated in Singapore)
RESULTS OF RESOLUTIONS TABLED AT EXTRAORDINARY GENERAL MEETING OF VIBROPOWER CORPORATION LIMITED HELD ON 9 NOVEMBER 2020
The Board of Directors of VibroPower Corporation Limited ("the Company") is pleased to announce the results of the resolutions as set out in the Notice of EGM dated 16 October 2020 tabled at the Extraordinary General Meeting ("EGM") of the Company held on 9 November 2020.
The voting results in respect of the resolutions passed at the EGM are as follows:
FOR | AGAINST | ||||||||||
Resolution number | Total number | Number of | As a | Number of | As a | ||||||
and details | of shares | shares | percentage | shares | percentage of | ||||||
represented by | of total | total number | |||||||||
votes for and | number of | of votes | |||||||||
against the | votes for the | against the | |||||||||
relevant | resolution | resolution (%) | |||||||||
resolution | (%) | ||||||||||
Resolution No. 1 | |||||||||||
Withdrawal of General | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | ||||||
Share Issue Mandate | |||||||||||
Resolution No. 2 | |||||||||||
Removal of Mr. | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | ||||||
Benedict Chen Onn | |||||||||||
Meng as Executive | |||||||||||
Chairman | |||||||||||
Resolution No. 3 | |||||||||||
Removal of Mr. Ernest | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | ||||||
Yogarajah s/o | |||||||||||
Balasubramaniam as | |||||||||||
Independent Director | |||||||||||
...2/-
(Company Registration No. 200004436E)
(Incorporated in Singapore)
- 2 -
FOR | AGAINST | |||||
Resolution number | Total number | Number of | As a | Number of | As a | |
and details | of shares | shares | percentage | shares | percentage of | |
represented by | of total | total number | ||||
votes for and | number of | of votes | ||||
against the | votes for the | against the | ||||
relevant | resolution | resolution (%) | ||||
resolution | (%) | |||||
Resolution No. 4 | ||||||
Removal of Ms. Toh | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | |
Shih Hua as | ||||||
Independent Director | ||||||
Resolution No. 5 | ||||||
Appointment of Mr. | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | |
Chng Beng Hock as | ||||||
Executive Director | ||||||
Resolution No. 6 | ||||||
Appointment of Mr. | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | |
Jonathan Zhang as | ||||||
Independent Director | ||||||
Resolution No. 7 | ||||||
Appointment of Mr. | 59,802,410 | 24,486,235 | 40.95 | 35,316,175 | 59.05 | |
Christopher Huang as | ||||||
Independent Director | ||||||
...3/-
(Company Registration No. 200004436E)
(Incorporated in Singapore)
- 2 -
FOR | AGAINST | |||||||||||
Resolution number | Total number | Number of | As a | Number of | As a | |||||||
and details | of shares | shares | percentage | shares | percentage of | |||||||
represented by | of total | total number | ||||||||||
votes for and | number of | of votes | ||||||||||
against the | votes for the | against the | ||||||||||
relevant | resolution | resolution (%) | ||||||||||
resolution | (%) | |||||||||||
Resolution No. 8 | ||||||||||||
Removal of any | ||||||||||||
directors who may | 59,572,410 | 24,486,235 | 41.10 | 35,086,175 | 58.90 | |||||||
have been appointed | ||||||||||||
between 8 October | ||||||||||||
2020 and the date of | ||||||||||||
the EGM | ||||||||||||
Resolution No. 9 | ||||||||||||
Proposed Share Issue | 59,802,410 | 35,086,175 | 58.67 | 24,716,235 | 41.33 | |||||||
Mandate | ||||||||||||
Abstention from Voting |
There were no parties who were required to abstain from voting on the resolutions.
Scrutineer
Grant Thornton Singapore Pte Ltd was appointed as the Scrutineer for the EGM.
On behalf of the Board of Directors
Mr Benedict Chen Onn Meng
Chief Executive Officer
Date: 9 November 2020
Media Statement - Conclusion of EGM(9 Nov 2020)
VibroPower concluded its EGM today and would like to thank all shareholders for their interest and support for the Group, especially given the continuing tough global and domestic conditions and the resulting impact on businesses.
As VibroPower navigates through these challenges, the Group is mindful of recent shareholder concerns which were raised and addressed through various platforms, including the Singapore Exchange. Through all communications, VibroPower's actions were fully compliant with the law and applicable SGX listing rules. VibroPower has acted and will continue to act in the best interests of all shareholders. The strong results of the EGM today vindicate the Board and underlines the confidence and support for the current Board to move on with its strategic plans for the benefit of all shareholders.
Looking ahead, VibroPower will continue to execute on-going projects on hand, while transforming itself into a more competitive Group within the power generation industry. The foray into Malaysia will be driven through the new strategic investors while the push into China through wholly owned Shanxi Weineng will help diversify revenue streams. Equally important is the strategic focus on developing sustainable energy solutions.
At VibroPower, we continue to believe that there is much to be pursued and achieved within the Group's core power generation business and we look forward to working with all shareholders to move forward with these initiatives.
- Attributable to Mr Benedict Chen, Chief Executive Officer
-----
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Tranz Communications
Casuarina Peck (casuarina@tranzcomm.com) Mob: 9363 5609
Joseph Rajendran (joseph@tranzcomm.com) Mob: 9228 7801
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VibroPower Corporation Limited published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 07:18:03 UTC