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GENERAL MEETINGS: Outcome of Meeting
| Type of Meeting |
General |
| Indicator |
Outcome of Meeting |
| Date of Meeting |
28 Aug 2023 |
| Time |
03:00 PM |
| Venue(s) |
No. 1, Jalan Sri Plentong,
Taman Perindustrian Sri Plentong,
81750 Masai, Johor.
Malaysia
|
| Outcome of Meeting |
The Board of Directors of Power Root Berhad ("Power Root" or "the Company") is pleased to announce that at the Seventeenth Annual General Meeting ("17th AGM") of the Company held on 28 August 2023, all the resolutions as set out in the Notice of AGM dated 28 July 2023 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 28 August 2023. |
Voting Results |
|
1. 1
|
| Description |
To sanction payment of Directors' fees for the financial year ending 31 March 2024, to be payable on quarterly basis in arrears.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
164 |
0 |
| No. of Shares |
298,147,956 |
0 |
| % of Voted Shares |
100.0000 |
0.0000 |
| 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 2024.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
128 |
9 |
| No. of Shares |
75,610,592 |
721,000 |
| % of Voted Shares |
99.0554 |
0.9446 |
| Result |
Accepted |
|
3. 3
|
| 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.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
160 |
8 |
| No. of Shares |
279,689,166 |
434,531 |
| % of Voted Shares |
99.8449 |
0.1551 |
| Result |
Accepted |
|
4. 4
|
| 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.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
156 |
18 |
| No. of Shares |
355,242,333 |
1,161,331 |
| % of Voted Shares |
99.6742 |
0.3258 |
| Result |
Accepted |
|
5. 5
|
| 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.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
157 |
18 |
| No. of Shares |
353,456,348 |
3,182,631 |
| % of Voted Shares |
99.1076 |
0.8924 |
| Result |
Accepted |
|
6. 6
|
| Description |
To re-elect Mr. Wong Tak Keong, 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 |
165 |
2 |
| No. of Shares |
308,113,679 |
194,000 |
| % of Voted Shares |
99.9371 |
0.0629 |
| Result |
Accepted |
|
7. 7
|
| Description |
To re-appoint Messrs KPMG PLT as Auditors of the Company for the financial year
ending 31 March 2024 and to authorise the Directors to fix their remuneration.
|
| Shareholder’s Action |
For Voting |
| Voted |
For |
Against |
| No. of Shareholders |
163 |
12 |
| No. of Shares |
355,797,848 |
841,131 |
| % of Voted Shares |
99.7642 |
0.2358 |
| Result |
Accepted |
|
8. 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 |
39 |
0 |
| No. of Shares |
255,984,639 |
0 |
| % of Voted Shares |
100.0000 |
0.0000 |
| Result |
Accepted |
|
9. 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 |
129 |
6 |
| No. of Shares |
54,059,454 |
46,594,880 |
| % of Voted Shares |
53.7080 |
46.2920 |
| 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 |
172 |
3 |
| No. of Shares |
337,700,179 |
18,938,800 |
| % of Voted Shares |
94.6896 |
5.3104 |
| 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 ("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 |
174 |
0 |
| No. of Shares |
356,635,979 |
0 |
| % of Voted Shares |
100.0000 |
0.0000 |
| 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 |
173 |
0 |
| No. of Shares |
356,572,679 |
0 |
| % of Voted Shares |
100.0000 |
0.0000 |
| Result |
Accepted |
|
13. 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 |
168 |
0 |
| No. of Shares |
308,345,079 |
0 |
| % of Voted Shares |
100.0000 |
0.0000 |
| Result |
Accepted |
|
Please refer attachment below.
Announcement Info
| Company Name |
POWER ROOT BERHAD
|
| Stock Name |
PWROOT |
| Date Announced |
28 Aug 2023 |
| Category |
General Meeting |
| Reference Number |
GMA-28082023-00005 |
| Corporate Action ID |
MY230828MEET0005 |
|
|