[PWROOT] General on 27-Aug-2021

Stock
[PWROOT]: POWER ROOT BERHAD
Announcement Date
29-Jul-2021
Type
General
Date & Time
27-Aug-2021 15:00
Depositor Date
19-Aug-2021
Venue
Fully virtual meeting provided by Vote2U at https://web.vote2u.my (Domain registration number with MYNIC D6A471702)
Description
Notice of Fifteenth Annual General Meeting ("AGM") of Power Root Berhad ("Power Root" of "the Company")
Power Root - Notice of 15th AGM and Administrative Guide.pdf
Outcome

The Board of Directors of Power Root Berhad ("Power Root" or "the Company") is pleased to announce that at the Fifteenth Annual General Meeting ("AGM") of the Company held on 27 August 2021, all the resolutions as set out in the Notice of AGM dated 30 July 2021 were duly passed by the shareholders by way of poll.

The results of the poll were duly certified by Scrutineer, Aegis Communication 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 27August 2021.

Voting Results

1. 1

Description 
To sanction payment of Directors fees for the financial year ending 31 March 2022, to be payable on quarterly basis in arrears.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 141 21
No. of Shares 263,083,700 232,964
% of Voted Shares 99.9115 0.0885
Result Accepted

2. 2

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 2022.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 102 24
No. of Shares 50,458,379 444,093
% of Voted Shares 99.1276 0.8724
Result Accepted

3. 3

Description 
To re-elect Mr. Azahar Bin Baharudin, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 151 12
No. of Shares 263,461,095 34,264
% of Voted Shares 99.9870 0.0130
Result Accepted

4. 4

Description 
To re-elect Mr. Wong Tak Keong, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 148 7
No. of Shares 226,221,060 17,244
% of Voted Shares 99.9924 0.0076
Result Accepted

5. 5

Description 
To re-elect Y.A.D. Tengku Dato Setia Putra Alhaj Bin Tengku Azman Shah Alhaj, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers himself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 152 11
No. of Shares 263,441,355 31,764
% of Voted Shares 99.9879 0.0121
Result Accepted

6. 6

Description 
To re-elect Mr. Low Jun Lee, who retires pursuant to Clause 107 of the Company's Constitution and being eligible, offers himself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 154 8
No. of Shares 256,021,675 168,444
% of Voted Shares 99.9343 0.0658
Result Accepted

7. 7

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.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 161 7
No. of Shares 263,707,875 5,844
% of Voted Shares 99.9978 0.0022
Result Accepted

8. 8 - Tier 1

Description 
Continuation in Office as Independent Non-Executive Director - Mr. Ong Kheng Swee.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 20 0
No. of Shares 164,163,292 0
% of Voted Shares 100.0000 0.0000
Result Accepted

9. 8 - Tier 2

Description 
Continuation in Office as Independent Non-Executive Director - Mr. Ong Kheng Swee.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 128 15
No. of Shares 62,232,588 36,778,024
% of Voted Shares 62.8545 37.1455
Result Accepted

10. 9

Description 
Authority to Issue Shares Pursuant To Sections 75(1) and 76(1) of the Companies Act 2016 ("Authority to Allot Shares").
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 146 19
No. of Shares 252,432,925 11,127,534
% of Voted Shares 95.7780 4.2220
Result Accepted

11. 10

Description 
Proposed Renewal of the Authority to allot and issue new ordinary shares in Power Root ("Power Root Shares"), in relation to 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.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 155 12
No. of Shares 263,656,125 57,544
% of Voted Shares 99.9782 0.0218
Result Accepted

12. 11

Description 
Proposed Renewal of the Authority to Buy-Back Its Own Shares by the Company ("Proposed Renewal of Share Buy-Back").
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 161 6
No. of Shares 263,712,875 344
% of Voted Shares 99.9999 0.0001
Result Accepted

13. 12

Description 
Proposed New and Renewal of Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature ("Proposed Shareholders' Mandate").
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 147 9
No. of Shares 226,456,495 164,364
% of Voted Shares 99.9275 0.0725
Result Accepted

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