(E) Ordinary Resolution 7 - Proposed Authority to Allot and Issue Shares by Directors and Waiver of PreEmptive Rights pursuant to the Act The proposed Ordinary Resolution 7 is a renewal of the general mandate for issuance of shares by the Company under Sections 75 and 76 of the Act. The mandate, if passed, will give flexibility to the Directors of the Company to issue shares and allot up to a maximum of 10% of the total number of issued MYEG Shares (excluding treasury shares) at the time of such allotment and issuance of MYEG Shares and for such purposes as they consider would be in the best interest of the Company without having to convene separate general meetings. This authority, unless revoked or varied at a general meeting, will expire at the conclusion of the 24th AGM of the Company. The waiver of pre-emptive rights pursuant to Section 85 of the Act to be read together with Clause 58 of the Constitution of the Company will allow the Directors of the Company to issue new shares of the Company which will rank equally to existing issued shares of the Company, to any person without having to offer new shares to all the existing shareholders of the Company prior to issuance of new shares in the Company under the general mandate. The rationale for this resolution is to eliminate the need to convene general meeting(s) from time to time to seek shareholders’ approval as and when the Company issues new MYEG Shares for future business opportunities for the purpose of funding investment project(s), working capital and/or acquisitions and thereby reducing administrative time and cost associated with the convening of such meeting(s). The Company has not issued and allotted any MYEG Shares since obtaining the said authority from its shareholders at the 22nd AGM held on 22 June 2023, and therefore, no proceeds were raised from this authority. (F) Ordinary Resolution 8 – Proposed Renewal of Authority for Directors to Allot and Issue New MYEG Shares in relation to the DRP The proposed Ordinary Resolution 8, if passed, will give authority to the Directors of the Company to allot and issue new MYEG Shares pursuant to the DRP. This authority, unless revoked or varied at a general meeting, will expire at the conclusion of the 24th AGM of the Company. PARTICIPATION AND PROXY: 1. The 23rd AGM of the Company will be held as a virtual meeting through live streaming and online remote voting using RPV facilities via Vote2U at https://web.vote2u.my. Please refer to the Administrative Guide for Shareholders for the procedures to register, participate and vote remotely through the RPV facilities. 2. In compliance with Section 327(2) of the Act, the Chairman shall be present at the main venue of the meeting in Malaysia and in accordance with Clause 63 of the Company’s Constitution which allows a meeting of members to be held at more than one venue, using any technology or method that allows all Members of the Company to participate and exercise the members’ right to participate and vote at the meeting. Shareholders, proxy(ies) and corporate representatives will not be allowed to be physically present nor enter the Broadcast Venue. 3. Pursuant to Paragraph 8.29A of the MMLR of Bursa Securities, voting at the 23rd AGM will be conducted by poll rather than a show of hands. Poll Administrator and Independent Scrutineers will be appointed to conduct the polling process and verify the results of the poll respectively. 4. A member entitled to attend, participate and vote at the virtual meeting is entitled to appoint proxy(ies) to attend and vote in his/her stead. If the proxy(ies) is not a member of the Company, he/she need not be an advocate, an approved company auditor or a person approved by the Registrar of Companies and there shall be no restriction as to qualification of the proxy(ies). 5. A member shall be entitled to appoint up to two (2) proxies or attorneys or authorised representatives to vote at the same virtual meeting. Where a member appoints more than one (1) proxy, the appointment shall be invalid unless he/she specifies the proportion of his/her shareholdings to be represented by each proxy. NOTICE OF THE TWENTY-THIRD ANNUAL GENERAL MEETING (cont’d) ANNUAL REPORT 2023 271 ADDITIONAL INFORMATION
RkJQdWJsaXNoZXIy NDgzMzc=