[VELESTO] General on 29-Jun-2020

Stock
[VELESTO]: VELESTO ENERGY BERHAD
Announcement Date
18-May-2020
Type
General
Date & Time
29-Jun-2020 14:00
Depositor Date
22-Jun-2020
Venue
Broadcast Venue: Tricor Leadership Room Unit 32-01, Level 32, Tower A, Vertical Business Suite,Avenue 3, Bangsar South No. 8, Jalan Kerinchi, 59200 Kuala Lumpur
Description
VELESTO ENERGY BERHAD - NOTICE & AGENDA OF 10TH ANNUAL GENERAL MEETING
Velesto Energy Berhad Notice of 10th Annual General Meeting.pdf
Outcome

The Board of Directors of Velesto EnergyBerhad (the "Company") wishes to announce that all the resolutions set out in the Notice of the 10th Annual General Meeting ("AGM") of the Company dated 19 May2020were duly passed by the shareholders of the Company at the 10th AGMheld on 29June2020.

The Audited Financial Statements of the Company for the financial year ended 31 December 2019 and the Reports of the Directors and Auditors thereon were received and duly tabled at the 10thAGM under Agenda 1.

All the resolutions were voted by pollin accordance with Paragraph 8.29A of the Main Market Listing Requirements ofBursa Malaysia Securities Berhadand the results of the poll were validated by Asia Securities Sdn. Bhd., the independent scrutineers appointed by the Company.

Please refer to the attachment for the detailed poll results.

This announcement is dated 29June 2020.

Voting Results

1. Ordinary Resolution 1

Description 
To re-elect Mohd Rashid Mohd Yusof in accordance with Article 96 of the Company's Constitution.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 303 65
No. of Shares 5,545,106,417 16,943,403
% of Voted Shares 99.6954 0.3046
Result Accepted

2. Ordinary Resolution 2

Description 
To re-elect Rowina Ghazali Seth in accordance to the Article 96 of the Company's Constitution.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 314 57
No. of Shares 5,623,764,973 410,747
% of Voted Shares 99.9927 0.0073
Result Accepted

3. Ordinary Resolution 3

Description 
To re-elect Haida Shenny Hazri in accordance to the Article 96 of the Company's Constitution.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 311 59
No. of Shares 5,623,346,472 824,248
% of Voted Shares 99.9853 0.0147
Result Accepted

4. Ordinary Resolution 4

Description 
To re-elect Datuk Tong Poh Keow in accordance to the Article 103 of the Company's Constitution.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 322 49
No. of Shares 5,623,804,860 370,860
% of Voted Shares 99.9934 0.0066
Result Accepted

5. Ordinary Resolution 5

Description 
To approve the payment of the Directors' and Board Committees Members' Fees in accordance with the Remuneration Policy and Procedures for Non-Executive Directors for period from 10th AGM until the next AGM.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 289 74
No. of Shares 5,623,184,744 439,379
% of Voted Shares 99.9922 0.0078
Result Accepted

6. Ordinary Resolution 6

Description 
To approve the payment of Meeting Allowances and other benefits in accordance with the Remuneration Policy and Procedures for Non-Executive Directors, for the period from the 10th AGM until the next AGM.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 283 78
No. of Shares 5,623,193,024 425,979
% of Voted Shares 99.9924 0.0076
Result Accepted

7. Ordinary Resolution 7

Description 
To re-appoint Messrs. Ernst & Young PLT as the Company's Auditors for the year ending 31 December 2020 and to authorise the Board of Directors to determine their remuneration.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 323 47
No. of Shares 5,623,826,412 273,308
% of Voted Shares 99.9951 0.0049
Result Accepted

8. Special Resolution

Description 
To approve the Proposed Share Capital Reduction for the Company to reduce the issued share capital of the Company, via the cancellation of the share capital which is lost or unrepresented by available assets of RM2,210,000,000.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 289 73
No. of Shares 5,623,662,979 365,931
% of Voted Shares 99.9935 0.0065
Result Accepted

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