The Board of Directors of Power Root Berhad ("Power Root" or "the Company") is pleased to announce that at the Fourteenth Annual General Meeting ("AGM") of the Company held on 26 August 2020, all the resolutions as set out in the Notice of AGM dated 28 July 2020 were duly passed by the shareholders by way of poll.
The results of the poll were duly certified by Scrutineer, Needsbridge Advisory Sdn Bhd, the Independent Scrutineer appointed by the Company.
Details of the results of the poll are listed in the table below.
This announcement is dated 26August 2020.
Voting Results |
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1. Resolution 1 |
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Description |
To sanction payment of Directors' fees for the financial year ending 31 March 2021, to be payable on quarterly basis in arrears. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 86 | 2 |
No. of Shares | 65,480,516 | 11,100 |
% of Voted Shares | 99.9831 | 0.0169 |
Result | Accepted | |
2. Resolution 2 |
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Description |
To approve the benefit payable to the Directors an aggregate amount of not more than RM600,000 for the financial year ending 31 March 2021. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 84 | 4 |
No. of Shares | 64,985,816 | 505,800 |
% of Voted Shares | 99.2277 | 0.7723 |
Result | Accepted | |
3. Resolution 3 |
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Description |
To re-elect Dato' How Say Swee, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 115 | 2 |
No. of Shares | 217,429,380 | 123,700 |
% of Voted Shares | 99.9431 | 0.0569 |
Result | Accepted | |
4. Resolution 4 |
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Description |
To re-elect Mr. Ong Kheng Swee, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 111 | 12 |
No. of Shares | 272,756,461 | 20,590,840 |
% of Voted Shares | 92.9807 | 7.0193 |
Result | Accepted | |
5. Resolution 5 |
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Description |
To re-elect Dato' Afifuddin Bin Abdul Kadir, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 117 | 7 |
No. of Shares | 292,255,016 | 1,317,600 |
% of Voted Shares | 99.5512 | 0.4488 |
Result | Accepted | |
6. Resolution 6 |
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Description |
To re-elect Dato' Tea Choo Keng, who retires pursuant to Clause 107 of the Company's Constitution and being eligible, offers himself for re-election. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 123 | 1 |
No. of Shares | 293,572,516 | 100 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
7. Resolution 7 |
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Description |
To re-appoint Messrs KPMG PLT as Auditors of the Company for the ensuing year and to authorise the Directors to fix their remuneration. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 122 | 2 |
No. of Shares | 293,448,916 | 123,700 |
% of Voted Shares | 99.9579 | 0.0421 |
Result | Accepted | |
8. Resolution 8 |
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Description |
Retention of Independent Director, Mr. Ong Kheng Swee. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 20 | 0 |
No. of Shares | 191,100,685 | 0 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
9. Resolution 9 |
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Description |
Authority for Directors to Issue Shares Pursuant To Sections 75(1) and 76(1) of the Companies Act 2016. ("Authority to Allot Shares") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 116 | 8 |
No. of Shares | 273,611,076 | 19,961,540 |
% of Voted Shares | 93.2005 | 6.7995 |
Result | Accepted | |
10. Resolution 10 |
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Description |
Proposed Renewal of the Authority to allot and issue new ordinary shares in Power Root ("Power Root Shares"), for the purpose of the Company's Dividend Reinvestment Plan ("DRP") that provides the shareholders of Power Root ("Shareholders") the option to elect to reinvest their cash dividend in new Power Root Shares. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 124 | 0 |
No. of Shares | 293,572,616 | 0 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
11. Resolution 11 |
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Description |
Proposed Renewal of the Authority to Buy-Back Its Own Shares by the Company. ("Proposed Renewal of Share Buy-Back") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 123 | 0 |
No. of Shares | 293,449,016 | 0 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
12. Resolution 12 |
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Description |
Proposed Renewal of Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature. ("Proposed Shareholders' Mandate") |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 113 | 1 |
No. of Shares | 264,571,116 | 100 |
% of Voted Shares | 100.0000 | 0.0000 |
Result | Accepted | |
13. Resolution 8 - Tier 2 |
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Description |
Retention of Independent Director, Mr. Ong Kheng Swee. |
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Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 89 | 14 |
No. of Shares | 56,126,756 | 46,119,860 |
% of Voted Shares | 54.8935 | 45.1065 |
Result | Accepted | |