Serba Dinamik Annual Report 2016

2016 Annual Report 175 NOTICE OF THE FIRST ANNUAL GENERAL MEETING (Cont’d) 2. Agenda Item No. 1 This item of the Agenda is meant for discussion only. The provisions of Section 340(1)(a) of the Companies Act 2016 require that the audited financial statements and the Reports of the Directors and Auditors thereon be laid before the Company at its Annual General Meeting. As such this Agenda item is not a business which requires a resolution to be put to vote by shareholders. EXPLANATORY NOTES ON SPECIAL BUSINESS:- 3. Recurrent Related Party Transactions of a Revenue or Trading Nature The proposed Resolution 5 is to seek of Shareholders’ Mandate to allow the Company and/or its subsidiaries to enter into Recurrent Related Party Transactions of a Revenue or Trading Nature and to enable the Company to comply with Paragraph 10.09, Part E of the Listing Requirement for the Main Market of Bursa Malaysia Securities Berhad. The mandate will take effect from the date of the passing of the Ordinary Resolution until the next Annual General Meeting of the Company. For further information, please refer to the Circular to Shareholders dated 28 April 2017 accompanying the Company’s Annual Report for the financial period ended 31 December 2016. 4. Authority to Allot and Issue Shares The proposed Resolution 6, if passed, will provide flexibility to the Directors to undertake fund raising activities, including but not limited to placement of shares for the funding of the Company’s future investment projects, working capital and / or acquisitions, by the issuance of shares in the Company to such persons at any time, as the Directors may deem fit, without having to convene a general meeting. 5. Proposed Amendments to the Company’s Constitution The proposed Resolution 7, if passed, will bring the Company’s Constitution in line with the enforcement of the Companies Act 2016 and to enhance administrative efficiency. The proposed new Constitution is set out in Part B of the Circular to Shareholders dated 28 April 2017.