The Company firmly believes in high standards of transparent corporate disclosure, pursuant to the
SGX-ST’s Listing Rules and the Singapore Companies Act, whereby shareholders are informed of all
major developments that affect the Group. Information is communicated to our shareholders on a
timely basis. Where there is inadvertent disclosure made to a selected group, the Company will make
the same disclosure publicly to all others as soon as practicable.
Communication is made through:
•
annual reports that are prepared and sent to all shareholders. The Board ensures that the
annual report includes all relevant information about the Company and the Group, including
future developments and other disclosures required by the Singapore Companies Act and
Singapore Financial Reporting Standards;
•
quarterly announcements containing a summary of the financial information and affairs of
the Group for that period;
•
notices of and explanatory memoranda for AGMs and Extraordinary General Meetings;
•
press releases on major developments of the Company and the Group;
•
disclosure to the SGX-ST; and
•
the Company’s website at
at which our shareholders can access
information on the Group.
Moreover, our shareholders are encouraged to attend the AGM to ensure a high level of accountability
and to be updated on the Company’s strategies and goals. The Company’s Constitution allows a
shareholder to appoint up to 2 proxies to attend a shareholder’s meeting on his behalf. In line with
the amendments to the Companies Act (Cap. 50), corporate shareholders of the Company which
provide nominee or custodial services to third parties to appoint more than two proxies to attend
and vote on their behalf at general meetings. The notice of the AGM is sent to our shareholders,
together with explanatory notes, appendices or a circular on items of special business, at least 14
days before the meeting. The Chairmen of the ARC, NC and RC are normally present and available
to address questions relating to the work of their respective committees at general meetings.
Furthermore, the external auditors are present to assist our Board in addressing any relevant queries
by our shareholders. During the general meetings, the shareholders will be informed of the rules
governing general meetings, including voting procedures.
Both Executive and Non-Executive Board members meet or speak with shareholders regularly, primarily
through general meetings of shareholders, to gather their views and address concerns.
Each item of special business included in the notice of the meeting is accompanied, where appropriate,
by an explanation for the proposed resolution. Separate resolutions are proposed for substantially
separate issues at the meeting. In line with the new Rule 730A of the SGX-ST Listing Manual, with
effect from 1 August 2015, all the resolutions will be voted by way of poll and the Company will
announce the detailed results showing the number of votes cast for and against each resolution and
the respective percentages to the public.
35
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2015
CORPORATE
GOVERNANCE
