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GENERAL MEETINGS: Outcome of Meeting

HIBISCUS PETROLEUM BERHAD

Type of Meeting General
Indicator Outcome of Meeting
Date of Meeting 05 Dec 2023
Time 09:30 AM

Venue(s)
Broadcast Venue

Tricor Business Centre, Gemilang Room

Unit 29-01, Level 29, Tower A, Vertical Business Suite

Avenue 3, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur

Malaysia

Outcome of Meeting

The Board of Directors of Hibiscus Petroleum Berhad ("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 13th Annual General Meeting ("13th AGM") dated 31 October 2023 at the 13th AGM held on Tuesday, 5 December 2023. 

 

All the resolutions put to the 13th AGM were voted by way of a poll via Remote Participation and Voting facilities. The results of the poll were validated by Deloitte Business Advisory Sdn. Bhd., the Independent Scruitineer appointed by the Company. 

 

Please refer to the attachment for the details of the poll results. 

 

This announcement is dated 5 December 2023. 


Voting Results


1. Ordinary Resolution 1

Description
To approve the payment of a final single-tier dividend of 1.25 sen per ordinary share in respect of the financial year ended 30 June 2023 based on the total number of issued ordinary shares of up to 804,967,497.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 413 39
No. of Shares 398,464,681 20,206
% of Voted Shares 99.9949 0.0051
Result Accepted

2. Ordinary Resolution 2

Description
To approve the payment of Non-Executive Directors (NED's) fees amounting to RM330,000 per annum to the Chair of the Board of Directors (Board) and RM180,000 per annum to each NED (save for the Chair of the Board) for the period from 6 December 2023 until the date of the next AGM in year 2024, to be paid quarterly in arrears.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 370 67
No. of Shares 294,561,264 11,986,437
% of Voted Shares 96.0899 3.9101
Result Accepted

3. Ordinary Resolution 3

Description
To approve the payment of NED's meeting allowances for the period from 6 December 2023 until the date of the next AGM in year 2024 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 372 73
No. of Shares 397,761,089 199,877
% of Voted Shares 99.9498 0.0502
Result Accepted

4. Ordinary Resolution 4

Description
To approve payments for additional attendances and time expended by any NED for the Company's purposes (or on behalf of the Company) at meetings and/or third-party events involving external party(ies) other than those referred to under Item 4 above, in the NED's capacity as a Director of the Company, for the period from 6 December 2023 until the date of the next AGM in year 2024, 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 371 74
No. of Shares 396,123,049 203,517
% of Voted Shares 99.9486 0.0514
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 6 December 2023 until the date of the next AGM in year 2024.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 360 88
No. of Shares 360,007,530 36,322,597
% of Voted Shares 90.8353 9.1647
Result Accepted

6. Ordinary Resolution 6

Description
To re-elect Dr Kenneth Gerard Pereira who is retiring pursuant to Clause 125 of the Constitution of the Company.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 402 49
No. of Shares 392,725,601 4,123,286
% of Voted Shares 98.9610 1.0390
Result Accepted

7. Ordinary Resolution 7

Description
To re-elect YBhg Dato' Sri Roushan Arumugam who is retiring pursuant to Clause 134 of the Constitution of the Company.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 364 92
No. of Shares 380,452,155 15,898,732
% of Voted Shares 95.9887 4.0113
Result Accepted

8. Ordinary Resolution 8

Description
To re-elect YBhg Dato' Dr Zaha Rina Zahari who is retiring pursuant to Clause 134 of the
Constitution of the Company.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 370 84
No. of Shares 352,060,978 42,987,889
% of Voted Shares 89.1183 10.8817
Result Accepted

9. Ordinary Resolution 9

Description
To re-elect Puan Zaidah binti Ibrahim who is retiring pursuant to Clause 110 of the Constitution of the Company.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 402 48
No. of Shares 396,800,725 48,142
% of Voted Shares 99.9879 0.0121
Result Accepted

10. Ordinary Resolution 10

Description
To re-appoint Messrs PricewaterhouseCoopers PLT as Auditors of the Company for the financial year ending 30 June 2024 and to authorise the Directors to fix their remuneration.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 394 54
No. of Shares 395,155,741 1,687,946
% of Voted Shares 99.5747 0.4253
Result Accepted

11. Ordinary Resolution 11

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 374 76
No. of Shares 359,901,897 36,945,790
% of Voted Shares 90.6902 9.3098
Result Accepted

12. Ordinary Resolution 12

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 406 44
No. of Shares 396,811,629 37,257
% of Voted Shares 99.9906 0.0094
Result Accepted



Please refer attachment below.

Attachments

HPB 13th AGM_Poll Results.pdf
403.4 kB




Announcement Info

Company Name HIBISCUS PETROLEUM BERHAD
Stock Name HIBISCS
Date Announced 05 Dec 2023
Category General Meeting
Reference Number GMA-20112023-00009
Corporate Action ID MY231120MEET0009



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