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The Board of Directors of Lotus KFM Berhad ("the Company") wishes to announce that all the resolutions as prescribed in the Notice of Extraordinary General Meeting (“EGM”) of the Company dated 24 February 2022, were duly passed by the shareholders of the Company by way of poll at the EGM.
The result of the poll was validated by Commercial Quest Sdn. Bhd., the independent scrutineer appointed by the Company.
Please refer to the attachment for the details of the outcome.
This announcement is dated 21 March 2022.
Voting Results
1. Ordinary Resolution 1
Description
PROPOSED DIVERSIFICATION OF THE BUSINESS OF LOTUS AND ITS SUBSIDIARIES ("LOTUS GROUP") TO INCLUDE THE BUSINESS OF PLANTING, HARVESTING AND PROCESSING OF FAST-GROWING PLANTS, INCLUDING BUT NOT LIMITED TO ACACIA SPECIES, GMELINA SPECIES, ALBIZIA SPECIES, EUCALYPTUS SPECIES AND BAMBOO INTO WOOD CHIPS AND BAMBOO CHIPS ("PLANTATION BUSINESS") ("PROPOSED DIVERSIFICATION")
Shareholder’s Action
For Voting
Voted
For
Against
No. of Shareholders
16
0
No. of Shares
735,080,740
0
% of Voted Shares
100.0000
0.0000
Result
Accepted
2. Ordinary Resolution 2
Description
PROPOSED SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE AND/OR TRADING NATURE ("PROPOSED SHAREHOLDERS' MANDATE")