[PWROOT] General Meeting on 27-Aug-2024

Stock
[PWROOT]: POWER ROOT BERHAD
Announcement Date
25-Jul-2024
Reference No.
GMA-23072024-00012
Corporate Action ID
MY240723MEET0012
Type
General Meeting
Date & Time
27-Aug-2024 15:00
Depositor Date
21-Aug-2024
Venue
No. 1, Jalan Sri Plentong, Taman Perindustrian Sri Plentong, 81750 Masai, Johor Darul Takzim
Description
Notice of the Eighteenth ("18th") Annual General Meeting ("AGM") of Power Root Berhad ("Power Root" or "the Company")
Power Root Berhad - Notice of the 18th AGM.pdf
Outcome

The Board of Directors of Power Root Berhad ("Power Root" or "the Company") is pleased to announce that at the Eighteenth Annual General Meeting ("18th AGM") of the Company held on 27 August 2024, all the Resolutions as set out in the Notice of AGM dated 26 July 2024 were duly passed by the shareholders by way of poll save for Resolution 8 which has been rejected by the shareholders.

The results of the poll were duly certified by Scrutineer, Needsbridge Advisory Sdn. Bhd., the Independent Scrutineer appointed by the Company.

There is no amendmentto the results or attachment announced earlier except for the bold text above.

Details of the results of the poll are listed in the table below.

This announcement is dated 27 August 2024.

Voting Results

1. Resolution 1

Description 
To sanction payment of Directors' fees for the financial year ending 31 March 2025, to be payable on quarterly basis in arrears.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 115 3
No. of Shares 309,653,773 21,500
% of Voted Shares 99.9931 0.0069
Result Accepted

2. Resolution 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 2025.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 84 2
No. of Shares 74,672,149 103,200
% of Voted Shares 99.8620 0.1380
Result Accepted

3. Resolution 3

Description 
To re-elect Y.A.D. Tengku Dato Setia Putra Al-Haj Bin Tengku Azman Shah Al-Haj, 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 102 23
No. of Shares 302,838,274 62,129,369
% of Voted Shares 82.9767 17.0233
Result Accepted

4. Resolution 4

Description 
To re-elect Mr. Low Jun Lee, 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 119 3
No. of Shares 309,907,868 170,200
% of Voted Shares 99.9451 0.0549
Result Accepted

5. Resolution 5

Description 
To re-elect Ms. Tan Lay Beng, who retires pursuant to Clause 100 of the Company's Constitution and being eligible, offers herself for re-election.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 118 8
No. of Shares 360,912,543 4,075,100
% of Voted Shares 98.8835 1.1165
Result Accepted

6. Resolution 6

Description 
To re-elect Dato' Tea Choo Keng, 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 122 4
No. of Shares 358,416,543 6,571,100
% of Voted Shares 98.1996 1.8004
Result Accepted

7. Resolution 7

Description 
To re-appoint Messrs KPMG PLT as Auditors of the Company for the financial year
ending 31 March 2025 and to authorise the Directors to fix their remuneration.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 123 2
No. of Shares 364,611,043 356,600
% of Voted Shares 99.9023 0.0977
Result Accepted

8. Resolution 8 - Tier 1

Description 
Continuation in Office as Independent Non-Executive Director - Encik Azahar Bin Baharudin.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 40 0
No. of Shares 290,336,294 0
% of Voted Shares 100.0000 0.0000
Result Accepted

9. Resolution 8 - Tier 2

Description 
Continuation in Office as Independent Non-Executive Director-Encik Azahar Bin Baharudin.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 63 22
No. of Shares 12,928,380 61,722,669
% of Voted Shares 17.3184 82.6816
Result Rejected

10. Resolution 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 115 11
No. of Shares 332,811,743 32,175,900
% of Voted Shares 91.1844 8.8156
Result Accepted

11. Resolution 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 ("Shareholder") 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 120 6
No. of Shares 364,580,543 407,100
% of Voted Shares 99.8885 0.1115
Result Accepted

12. Resolution 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 122 3
No. of Shares 364,580,543 253,700
% of Voted Shares 99.9305 0.0695
Result Accepted

13. Resolution 12

Description 
Proposed 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 116 1
No. of Shares 314,208,043 253,300
% of Voted Shares 99.9194 0.0806
Result Accepted

Remark
-
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment