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GENERAL MEETINGS: Outcome of Meeting

POWER ROOT BERHAD

Type of Meeting General
Indicator Outcome of Meeting
Date of Meeting 26 Aug 2020
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 Fourteenth Annual General Meeting ("AGM") of the Company held on 26 August 2020, all the resolutions as set out in the Notice of AGM dated 28 July 2020 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 26 August 2020.


Voting Results


1. Resolution 1

Description
To sanction payment of Directors' fees for the financial year ending 31 March 2021, to be payable on quarterly basis in arrears.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 86 2
No. of Shares 65,480,516 11,100
% of Voted Shares 99.9831 0.0169
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 2021.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 84 4
No. of Shares 64,985,816 505,800
% of Voted Shares 99.2277 0.7723
Result Accepted

3. Resolution 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 115 2
No. of Shares 217,429,380 123,700
% of Voted Shares 99.9431 0.0569
Result Accepted

4. Resolution 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 111 12
No. of Shares 272,756,461 20,590,840
% of Voted Shares 92.9807 7.0193
Result Accepted

5. Resolution 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 117 7
No. of Shares 292,255,016 1,317,600
% of Voted Shares 99.5512 0.4488
Result Accepted

6. Resolution 6

Description
To re-elect Dato' Tea Choo Keng, 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 123 1
No. of Shares 293,572,516 100
% of Voted Shares 100.0000 0.0000
Result Accepted

7. Resolution 7

Description
To re-appoint Messrs KPMG PLT as Auditors of the Company for the ensuing year and to authorise the Directors to fix their remuneration.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 122 2
No. of Shares 293,448,916 123,700
% of Voted Shares 99.9579 0.0421
Result Accepted

8. Resolution 8

Description
Retention of Independent Director, Mr. Ong Kheng Swee.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 20 0
No. of Shares 191,100,685 0
% of Voted Shares 100.0000 0.0000
Result Accepted

9. Resolution 9

Description
Authority for Directors 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 116 8
No. of Shares 273,611,076 19,961,540
% of Voted Shares 93.2005 6.7995
Result Accepted

10. Resolution 10

Description
Proposed Renewal of the Authority to allot and issue new ordinary shares in Power Root ("Power Root Shares"), for the purpose of the Company's Dividend Reinvestment Plan ("DRP") that provides the shareholders of Power Root ("Shareholders") 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 124 0
No. of Shares 293,572,616 0
% of Voted Shares 100.0000 0.0000
Result Accepted

11. 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 123 0
No. of Shares 293,449,016 0
% of Voted Shares 100.0000 0.0000
Result Accepted

12. 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 113 1
No. of Shares 264,571,116 100
% of Voted Shares 100.0000 0.0000
Result Accepted

13. Resolution 8 - Tier 2

Description
Retention of Independent Director, Mr. Ong Kheng Swee.
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 89 14
No. of Shares 56,126,756 46,119,860
% of Voted Shares 54.8935 45.1065
Result Accepted






Announcement Info

Company Name POWER ROOT BERHAD
Stock Name PWROOT
Date Announced 26 Aug 2020
Category General Meeting
Reference Number GMA-26082020-00035
Corporate Action ID MY200826MEET0035




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