GENERAL MEETINGS: Outcome of Meeting
| VELESTO ENERGY BERHAD |
| Type of Meeting | General |
| Indicator | Outcome of Meeting |
| Date of Meeting | 29 Jun 2020 |
| Time | 02:00 PM |
| Venue(s) |
Broadcast Venue: Tricor Leadership Room Unit 32-01, Level 32, Tower A, Vertical Business Suite,Avenue 3, Bangsar South No. 8, Jalan Kerinchi, 59200 Kuala Lumpur Malaysia |
| Outcome of Meeting | The Board of Directors of Velesto Energy Berhad (the "Company") wishes to announce that all the resolutions set out in the Notice of the 10th Annual General Meeting ("AGM") of the Company dated 19 May 2020 were duly passed by the shareholders of the Company at the 10th AGM held on 29 June 2020.
The Audited Financial Statements of the Company for the financial year ended 31 December 2019 and the Reports of the Directors and Auditors thereon were received and duly tabled at the 10th AGM under Agenda 1.
All the resolutions were voted by poll in accordance with Paragraph 8.29A of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and the results of the poll were validated by Asia Securities Sdn. Bhd., the independent scrutineers appointed by the Company.
Please refer to the attachment for the detailed poll results.
This announcement is dated 29 June 2020. |
Voting Results |
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1. Ordinary Resolution 1 |
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| Description |
To re-elect Mohd Rashid Mohd Yusof in accordance with Article 96 of the Company's Constitution. |
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| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 303 | 65 |
| No. of Shares | 5,545,106,417 | 16,943,403 |
| % of Voted Shares | 99.6954 | 0.3046 |
| Result | Accepted | |
2. Ordinary Resolution 2 |
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| Description |
To re-elect Rowina Ghazali Seth in accordance to the Article 96 of the Company's Constitution. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 314 | 57 |
| No. of Shares | 5,623,764,973 | 410,747 |
| % of Voted Shares | 99.9927 | 0.0073 |
| Result | Accepted | |
3. Ordinary Resolution 3 |
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| Description |
To re-elect Haida Shenny Hazri in accordance to the Article 96 of the Company's Constitution. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 311 | 59 |
| No. of Shares | 5,623,346,472 | 824,248 |
| % of Voted Shares | 99.9853 | 0.0147 |
| Result | Accepted | |
4. Ordinary Resolution 4 |
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| Description |
To re-elect Datuk Tong Poh Keow in accordance to the Article 103 of the Company's Constitution. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 322 | 49 |
| No. of Shares | 5,623,804,860 | 370,860 |
| % of Voted Shares | 99.9934 | 0.0066 |
| Result | Accepted | |
5. Ordinary Resolution 5 |
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| Description |
To approve the payment of the Directors' and Board Committees Members' Fees in accordance with the Remuneration Policy and Procedures for Non-Executive Directors for period from 10th AGM until the next AGM. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 289 | 74 |
| No. of Shares | 5,623,184,744 | 439,379 |
| % of Voted Shares | 99.9922 | 0.0078 |
| Result | Accepted | |
6. Ordinary Resolution 6 |
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| Description |
To approve the payment of Meeting Allowances and other benefits in accordance with the Remuneration Policy and Procedures for Non-Executive Directors, for the period from the 10th AGM until the next AGM. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 283 | 78 |
| No. of Shares | 5,623,193,024 | 425,979 |
| % of Voted Shares | 99.9924 | 0.0076 |
| Result | Accepted | |
7. Ordinary Resolution 7 |
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| Description |
To re-appoint Messrs. Ernst & Young PLT as the Company's Auditors for the year ending 31 December 2020 and to authorise the Board of Directors to determine their remuneration. |
|
| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 323 | 47 |
| No. of Shares | 5,623,826,412 | 273,308 |
| % of Voted Shares | 99.9951 | 0.0049 |
| Result | Accepted | |
8. Special Resolution |
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| Description |
To approve the Proposed Share Capital Reduction for the Company to reduce the issued share capital of the Company, via the cancellation of the share capital which is lost or unrepresented by available assets of RM2,210,000,000. |
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| Shareholder’s Action | For Voting | |
| Voted | For | Against |
| No. of Shareholders | 289 | 73 |
| No. of Shares | 5,623,662,979 | 365,931 |
| % of Voted Shares | 99.9935 | 0.0065 |
| Result | Accepted | |
Please refer attachment below.
Announcement Info
| Company Name | VELESTO ENERGY BERHAD |
| Stock Name | VELESTO |
| Date Announced | 29 Jun 2020 |
| Category | General Meeting |
| Reference Number | GMA-29062020-00061 |
| Corporate Action ID | MY200629MEET0059 |