The Board of Directors ofHibiscus PetroleumBerhad ("Hibiscus Petroleum" or "the Company") wishes to announce that the shareholders of the Company have approved all the resolutions as set out in the Notice of the 14th Annual General Meeting ("14th AGM") dated 29 October 2024 at the 14th AGM held on Wednesday, 27 November 2024.
All the resolutions put to the 14th AGM were decided by way of a poll via Remote Participation and Voting facilities. The results of the poll were validated by Deloitte Business AdvisorySdn. Bhd., the Independent Scrutineer appointed by the Company.
Please refer to the attachment for the details of the poll results.
Details of the poll results for Resolution 11isas follows:
Resolution 11 |
Total Votes For |
Total Votes Against |
Results |
|||||
No. of Shareholders |
No. of Shares |
% |
No. of Shareholders |
No. of Shares |
% |
|||
Retention of Mr Thomas Michael Taylor as anIndependent Non-Executive Director |
Tier 1 |
7 | 93,445,166 | 100.0000 | 0 | 0 | 0.0000 | Accepted |
Tier 2 |
405 | 289,972,792 | 91.5871 | 73 | 26,635,920 | 8.4129 |
This announcement is dated27 November 2024.
Voting Results |
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1. Ordinary Resolution 1 |
||
Description |
To approve the payment of a final single-tier dividend of 1.0 sen per ordinary share in respect of the financial year ended 30 June 2024. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 454 | 28 |
No. of Shares | 410,035,575 | 24,003 |
% of Voted Shares | 99.9941 | 0.0059 |
Result | Accepted | |
2. Ordinary Resolution 2 |
||
Description |
To approve the payment of Non-Executive Directors (NEDs)' fees amounting to RM375,000 per annum to the Chair of the Board of Directors (Board) and RM200,000 per annum to each NED (save for the Chair of the Board) for the period from 28 November 2024 until the date of the next AGM in year 2025, to be paid quarterly in arrears. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 425 | 55 |
No. of Shares | 401,933,104 | 8,120,754 |
% of Voted Shares | 98.0196 | 1.9804 |
Result | Accepted | |
3. Ordinary Resolution 3 |
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Description |
To approve the payment of NED's meeting allowances for the period from 28 November 2024 until the date of the next AGM in year 2025 at the following rate (as applicable), to be paid quarterly in arrears: - RM4,500 for each meeting of the Board and of the Board Committees attended by a NED serving as the Chair of the meeting; or - RM3,500 for each meeting of the Board and of the Board Committees attended by a NED serving as a member of the Board or Board Committee. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 425 | 53 |
No. of Shares | 409,624,635 | 423,123 |
% of Voted Shares | 99.8968 | 0.1032 |
Result | Accepted | |
4. Ordinary Resolution 4 |
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Description |
To approve payments for additional attendances and time expended by any NED for the Company's purposes (or on behalf of the Company) such as meetings and/or third-party events involving external party(ies) or attendance at meetings with the Group's personnel at the specific request of the Chair of the Board, other than those referred to under Item 4 above, in the NED's capacity as a Director of the Company, for the period from 28 November 2024 until the date of the next AGM in year 2025, at the rate of RM3,500 per meeting or event, to be paid quarterly in arrears. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 422 | 58 |
No. of Shares | 409,824,268 | 228,010 |
% of Voted Shares | 99.9444 | 0.0556 |
Result | Accepted | |
5. Ordinary Resolution 5 |
||
Description |
To approve the payment of the medical coverage benefit, subject to a maximum limit of RM500,000 for the NEDs, for the period from 28 November 2024 until the date of the next AGM in year 2025. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 421 | 59 |
No. of Shares | 409,792,068 | 261,710 |
% of Voted Shares | 99.9362 | 0.0638 |
Result | Accepted | |
6. Ordinary Resolution 6 |
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Description |
To re-elect Encik Zainul Rahim bin Mohd Zain who is retiring pursuant to Clause 134 of the Constitution of the Company. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 428 | 56 |
No. of Shares | 408,272,479 | 1,780,999 |
% of Voted Shares | 99.5657 | 0.4343 |
Result | Accepted | |
7. Ordinary Resolution 7 |
||
Description |
To re-elect Puan Emeliana Dallan Rice-Oxley who is retiring pursuant to Clause 134 of the Constitution of the Company. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 433 | 46 |
No. of Shares | 409,005,835 | 1,043,143 |
% of Voted Shares | 99.7456 | 0.2544 |
Result | Accepted | |
8. Ordinary Resolution 8 |
||
Description |
To re-appoint Messrs PricewaterhouseCoopers PLT as Auditors of the Company for the financial year ending 30 June 2025 and to authorise the Directors to fix their remuneration. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 443 | 39 |
No. of Shares | 409,509,816 | 549,762 |
% of Voted Shares | 99.8659 | 0.1341 |
Result | Accepted | |
9. Ordinary Resolution 9 |
||
Description |
Authority for the Directors to allot and issue shares pursuant to Sections 75 and 76 of the Companies Act 2016. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 420 | 61 |
No. of Shares | 390,290,188 | 19,763,690 |
% of Voted Shares | 95.1802 | 4.8198 |
Result | Accepted | |
10. Ordinary Resolution 10 |
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Description |
Proposed renewal of the authority for the Company to purchase its own shares of up to 10% of the total number of issued shares of the Company (Proposed Renewal of Share Buy-back Authority). |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 438 | 43 |
No. of Shares | 409,997,828 | 56,050 |
% of Voted Shares | 99.9863 | 0.0137 |
Result | Accepted | |
11. Ordinary Resolution 11 |
||
Description |
Retention of Mr Thomas Michael Taylor as an Independent Non-Executive Director. |
|
Shareholder’s Action | For Voting | |
Voted | For | Against |
No. of Shareholders | 412 | 73 |
No. of Shares | 383,417,958 | 26,635,920 |
% of Voted Shares | 93.5043 | 6.4957 |
Result | Accepted | |
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