[VELESTO] General Meeting on 29-May-2023

Stock
[VELESTO]: VELESTO ENERGY BERHAD
Announcement Date
27-Apr-2023
Reference No.
GMA-27042023-00009
Corporate Action ID
MY230427MEET0009
Type
General Meeting
Date & Time
29-May-2023 14:00
Depositor Date
19-May-2023
Venue
Ballroom, Level 2, Aloft KL Sentral,5, Jalan Stesen Sentral,Kuala Lumpur Sentral,50470 Kuala Lumpur,MY
Description
Notice of 13th Annual General Meeting (AGM):- The AGM will be conducted virtually through Remote Participation and Voting facilities via Securities Services ePortal's platform at https://sshsb.net.my
Velesto Energy Berhad - Notice of 13th AGM.pdf
Outcome

The Board of Directors of Velesto Energy Berhad ("the Company") wishes to announce that all resolutions set out in the Notice of the 13th Annual General Meeting ("13th AGM") dated 28 April2023were duly passed by the shareholders of the Companyat the 13th AGM held on 29May2023.

The Audited Financial Statements of the Company for the financial year ended 31 December 2022and the Reports of the Directors and Auditors thereon were received and duly tabled at the 13thAGM 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 Commercial QuestSdn. Bhd., the independent scrutineers appointed by the Company.

This announcement is dated 29May2023.

Voting Results

1. Ordinary Resolution 1

Description 
To re-elect Mohd Rashid Mohd Yusof whom retires in accordance with Article 96 of the Company's Constitution and being eligible, offers himself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 628 140
No. of Shares 5,483,614,607 1,691,817
% of Voted Shares 99.9692 0.0308
Result Accepted

2. Ordinary Resolution 2

Description 
To re-elect Rowina Ghazali Seth whom retires in accordance with Article 96 of the Company's Constitution and being eligible, offers herself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 631 136
No. of Shares 5,483,867,152 1,431,272
% of Voted Shares 99.9739 0.0261
Result Accepted

3. Ordinary Resolution 3

Description 
To re-elect Haida Shenny Hazri whom retires in accordance with Article 96 of the Company's Constitution and being eligible, offers herself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 624 142
No. of Shares 5,474,704,274 10,587,456
% of Voted Shares 99.8070 0.1930
Result Accepted

4. Ordinary Resolution 4

Description 
To re-elect Ar. Ahila Ganesan, whom retires in accordance with Article 103 of the Company's Constitution and who being eligible, offers herself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 625 141
No. of Shares 5,475,712,850 9,553,903
% of Voted Shares 99.8258 0.1742
Result Accepted

5. Ordinary Resolution 5

Description 
To approve the payment of fees to the Non-Executive Chairman and Non-Executive Directors with effect from this 13th AGM until the next AGM of the Company to be held in year 2024.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 569 200
No. of Shares 5,483,076,341 2,223,488
% of Voted Shares 99.9595 0.0405
Result Accepted

6. Ordinary Resolution 6

Description 
To approve the benefits payable to the Non-Executive Chairman and Non-Executive Directors comprise of allowances, benefits-in-kind and other emoluments payable to them, from this 13th AGM to the next AGM of the Company in 2024.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 567 203
No. of Shares 5,483,232,330 2,077,199
% of Voted Shares 99.9621 0.0379
Result Accepted

7. Ordinary Resolution 7

Description 
To re-appoint Messrs. Ernst & Young PLT as Auditors of the Company for the financial year ending 31 December 2023 and to authorise the Board of Directors to determine their remuneration.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 600 167
No. of Shares 4,978,406,857 506,885,473
% of Voted Shares 90.7592 9.2408
Result Accepted

8. Ordinary Resolution 8

Description 
Proposed waiver of pre-emptive rights of shareholders over all options granted and/or to be offered/granted and all new shares to be issued in relation to the Employees Share Option Scheme (ESOS) of the Company.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 548 221
No. of Shares 5,005,199,463 480,069,067
% of Voted Shares 91.2480 8.7520
Result Accepted

9. Ordinary Resolution 9

Description 
Proposed Granting of ESOS Options to Megat Zariman Abdul Rahim.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 526 240
No. of Shares 4,997,238,699 487,995,053
% of Voted Shares 91.1035 8.8965
Result Accepted

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