My EG Services Berhad Annual Report 2020

MY E.G. SERVICES BERHAD Regisration No. 200001003034 (505639-K) 242 9. PROPOSED RENEWAL OF AUTHORITY FOR PURCHASE OF OWN SHARES BY THE COMPANY Ordinary Resolution 9 “THAT, subject to the Companies Act 2016 (“ Act ”), rules, regulations and orders made pursuant to the Act, provisions of the Company’s Constitution, the requirements of Bursa Malaysia Securities Berhad (“ Bursa Securities ”) and any other relevant authorities, the Directors of the Company be and are hereby authorised to make purchases of ordinary shares of MYEG (“ MYEG Shares ”) comprised in the Company’s total number of issued shares, such purchases to be made through the Bursa Securities subject further to the following: (i) the aggregate number of MYEG Shares which may be purchased and/or held by the Company shall be up to ten percent (10%) of the total number of issued MYEG Shares for the time being; (ii) the maximum funds to be allocated by the Company for the purpose of purchasing the MYEG Shares shall not exceed the total retained profits of the Company. As at 31 December 2020, the audited retained profits of the Company were approximately RM537.84 million; (iii) the authority conferred by this resolution will commence immediately upon passing of this ordinary resolution and will continue to be in force until: (a) the conclusion of the 21st AGM, following the 20th AGM at which the proposed renewal of authority for purchase of own shares by the Company was passed, at which time it will lapse unless an ordinary resolution is passed at the 21st AGM, the authority is renewed, either unconditionally or subject to conditions; (b) the expiration of the period within which the 21st AGM after that date is required by law to be held; or (c) revoked or varied by ordinary resolution passed by the shareholders in general meeting, whichever occurs first, but not so as to prejudice the completion of purchase(s) by the Company before the aforesaid expiry date and, made in any event, in accordance with the provisions of the guidelines issued by the Bursa Securities and any prevailing laws, rules, regulations, orders, guidelines and requirements issued by any relevant authority; and NOTICE OF THE TWENTIETH ANNUAL GENERAL MEETING (CONT’D)