SHAREHOLDER RIGHTS AND ENGAGEMENT Shareholder Rights and Conduct of General Meetings Principle 11: The company treats all shareholders fairly and equitably in order to enable them to exercise shareholders’ rights and have the opportunity to communicate their views on matters affecting the company. The company gives shareholders a balanced and understandable assessment of its performance, position and prospects. Provision 11.1 of the Code: Company provides shareholders with the opportunity to participate effectively and vote at general meetings The Company supports the Code’s principle to encourage communication with and participation by shareholders. Shareholders are informed of general meetings through notices published in the newspapers, through reports or circulars sent to all shareholders and via SGXNet. Shareholders are encouraged to attend the annual general meetings to ensure a greater level of shareholder participation. Provision 11.2 of the Code: Separate resolution on each substantially separate issue All resolutions are put to vote by poll and shareholders are entitled to vote in accordance with established voting rules and procedures. An announcement of the detailed results is made after the conclusion of the annual general meeting. The Board notes that there should be separate resolutions at general meetings on each substantially separate issue and supports the Code’s principles as regards “bundling” of resolutions. In the event that there are resolutions which are interlinked, the Board will provide reasons and material implications. Provision 11.3 of the Code: All Directors attend general meetings All Directors attend the general meetings of shareholders, and the external auditor will also be present to assist in addressing queries from shareholders relating to the conduct of the audit and the preparation and content of the auditor’s report. Provision 11.4 of the Code: Company’s Constitution allow for absentia voting of shareholders The Constitution allows a shareholder of the Company to appoint up to two proxies to attend the annual general meeting and vote in place of the shareholder, unless the shareholder is a relevant intermediary (as defined in Section 181 of the Companies Act). A relevant intermediary is entitled to appoint more than two proxies, but each proxy must be appointed to exercise the rights attached to a different share or shares held by such shareholder. The Company’s Constitution allows a shareholder who is unable to vote in person at general meetings to vote in absentia, such as via mail, electronic mail or facsimile. Provision 11.5 of the Code: Minutes of general meeting are published on the Company’s corporate website Minutes of general meetings, including relevant substantial comments or queries from shareholders relating to the agenda of the meeting and responses from the Board or the Management, are available to shareholders at the Company’s website. Provision 11.6 of the Code: Dividend policy The Company does not have a formal dividend policy. The form, frequency and amount of dividends will depend on the Group’s earnings, financial position, results of operations, capital needs, plans for expansion, and other factors as the Board may deem appropriate. The Company paid an interim dividend in FY 2024 and are seeking approval from shareholders for the payment of a final dividend for FY 2024 at the upcoming annual general meeting. Engagement with Shareholders Principle 12: The company communicates regularly with its shareholders and facilitates the participation of shareholders during general meetings and other dialogues to allow shareholders to communicate their views on various matters affecting the company. 62 ANNUAL REPORT 2024 Corporate Governance Report
RkJQdWJsaXNoZXIy NTkwNzg=