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The Board of Directors of VSTECS Berhad ("VSTECS" or "the Company") wishes to announce that all resolutions set out in the Notice of the Twenty-Fourth Annual General Meeting ("24th AGM") dated 22 May 2020 were duly passed at the 24th AGM of the Company.
All of the resolutions were voted by poll and the results of the poll were validated by Commercial Quest Sdn. Bhd., the Independent Scrutineer appointed by the Company. The details of the poll results are set out below.
This announcement is dated 16 June 2020.
Voting Results
1. Resolution 1
Description
To re-elect Mr. Foo Sen Chin who retires in accordance with Clause 21.6 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
35
3
No. of Shares
91,307,413
2,003
% of Voted Shares
99.9980
0.0020
Result
Accepted
2. Resolution 2
Description
To re-elect Mr. Ong Wei Hiam who retires in accordance with Clause 21.6 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
36
3
No. of Shares
91,406,413
2,003
% of Voted Shares
99.9980
0.0020
Result
Accepted
3. Resolution 3
Description
To re-elect Dato' Khoo Sin Aik who retires in accordance with Clause 21.10 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
36
3
No. of Shares
91,406,413
2,003
% of Voted Shares
99.9980
0.0020
Result
Accepted
4. Resolution 4
Description
To re-elect Encik Abdul Aziz bin Zainal Abidin who retires in accordance with Clause 21.10 of the Constitution of the Company.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
36
3
No. of Shares
91,406,413
2,003
% of Voted Shares
99.9980
0.0020
Result
Accepted
5. Resolution 5
Description
To approve the payment of Directors fees of RM417,113 (Ringgit Malaysia: Four Hundred Seventeen Thousand One Hundred and Thirteen) only for the financial year ended 31 December 2019.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
30
10
No. of Shares
91,300,813
17,603
% of Voted Shares
99.9810
0.0190
Result
Accepted
6. Resolution 6
Description
To re-appoint KPMG PLT as Auditors of the Company until the conclusion of the next Annual General Meeting and to authorise the Directors to fix their remuneration.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
37
2
No. of Shares
91,407,413
1,003
% of Voted Shares
99.9990
0.0010
Result
Accepted
7. Resolution 7
Description
Payment of Benefits Payable to the Directors under Section 230 of the Companies Act 2016.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
31
9
No. of Shares
91,299,913
18,503
% of Voted Shares
99.9800
0.0200
Result
Accepted
8. Resolution 8
Description
Authority to Issue Shares pursuant to the Companies Act 2016.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
33
8
No. of Shares
91,391,913
25,503
% of Voted Shares
99.9720
0.0280
Result
Accepted
9. Resolution 9
Description
Proposed Renewal of Authority for the Company to purchase its own shares.
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
35
4
No. of Shares
91,404,413
4,003
% of Voted Shares
99.9960
0.0040
Result
Accepted
10. Resolution 10
Description
Proposed New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature