280 (iii) Ordinary Resolution 5 - Re-election of Dato’ Othman bin Semail as Independent Non-Executive Director Dato’ Othman bin Semail fulfils the requirements of independence set out in the MMLR of Bursa Securities as well as the Malaysian Code on Corporate Governance. He has demonstrated his independence through his engagement in the meetings by proactively giving valuable insights to the Management in developing the Group’s business strategies. He also exercised his due care and carried out his professional duties proficiently during his tenure as an Independent Non-Executive Director of the Company. 4. Item 7 of the Agenda – Proposed Renewal of Authority for Purchase of Own Ordinary Shares by the Company The proposed Ordinary Resolution 7 if passed, will empower the Company to purchase and/or hold up to ten percent (10%) of the total number of issued MYEG Shares. This authority unless revoked or varied by the Company at a general meeting will expire at the 25th AGM of the Company. Please refer to the statement to shareholders in relation to the proposed renewal of authority for purchase of own ordinary shares by MYEG dated 30 April 2025 for further information. 5. Item 8 of the Agenda – Proposed Authority to Allot and Issue Shares by Directors and Waiver of Pre-Emptive Rights Pursuant to the Act The proposed Ordinary Resolution 8 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 ten percent (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 25th 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). As the date of the Notice of the 24th AGM, 206,217,600 ordinary shares were issued and the total proceeds raised amounted to RM190,751,280.00, pursuant to the mandate obtained from the shareholders at the 23rd AGM held on 25 June 2024. The details of the utilisation of proceeds are set out under the additional compliance information in the Integrated Annual Report 2024. 6. Item 9 of the Agenda – Proposed Renewal of Authority for Directors to Allot and Issue New MYEG Shares in relation to the DRP The proposed Ordinary Resolution 9, 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 25th AGM of the Company. NOTICE OF TWENTY-FOURTH ANNUAL GENERAL MEETING (cont’d)
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