Integrated Annual Report 2024 SECTION 7 • ADDITIONAL INFORMATION 351 (d) Ordinary Resolution 6 – Re-election of Mr. Chong Kin Leong as Independent Non-Executive Director Mr. Chong Kin Leong has more than 40 years of experience in all aspects of financial and business management in the corporate sector, financial institutions and auditing. As an Independent Director, he has been contributing valuable insights to the Board and actively making independent assessment of the information, reports or statements, having regard to his knowledge, experience and competence, to provide independent view and demonstrate objectivity in reviewing, as well as constructively challenge Management’s proposals at meetings. He exercised his due care and carried out his professional duties proficiently during his tenure as Independent Non-Executive Director of the Company. 4. Ordinary Resolution 8 – Proposed Renewal of Authority under Sections 75 and 76 of the Act and the Constitution of the Company for the Directors to Allot and Issue Shares The Company had, during its Eighth AGM held on 27 June 2024, obtained its shareholders’ approval for the general mandate for issuance of shares pursuant to Sections 75 and 76 of the Act. As of the date of this notice, the Company did not issue any shares pursuant to this mandate obtained. Ordinary Resolution 8 proposed under item 6 of the Agenda is a renewal of the general mandate for issuance of shares by the Company under Sections 75 and 76 of the Act and empowering the Directors of the Company to issue and allot shares in the Company from time to time, provided that the aggregate number of such shares to be issued pursuant to this resolution does not exceed ten per centum (10%) of the total number of issued shares (excluding treasury shares) of the Company for the time being (“Proposed General Mandate”). The Proposed General Mandate, if passed, serves as a measure to meet the Company’s immediate working capital needs in the short term without relying on conventional debt financing (which will result in higher finance costs to be incurred) for the purpose of funding investment project(s), working capital and/or acquisition(s), without the need to convene separate general meeting to obtain its shareholders’ approval so as to avoid incurring additional cost and time. This authority, unless revoked or varied by the Company at a general meeting, will expire at the conclusion of the next AGM or the expiration of the period within which the next AGM is required by law to be held, whichever is earlier. By approving the issuance and allotment of shares pursuant to Sections 75 and 76 of the Act and the Constitution of the Company, the shareholders, having agreed to irrevocably waive their statutory pre-emptive rights pursuant to Section 85 of the Act read together with Clause 59 of the Constitution of the Company which will result in a dilution to their shareholding percentage in the Company, allow the Directors of the Company to issue new shares of the Company which 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 Proposed General Mandate. If there should be a decision to issue new shares after the Proposed General Mandate is obtained, the Company will make an announcement in respect thereof. Notice of Annual General Meeting
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