Result of AGM

Global Invacom

25/06/2020 10:22

RNS Number : 9979Q

Global Invacom Group Limited

25 June 2020

 

25 June 2020

 

Global Invacom Group Limited

("Global Invacom", the "Company" or the "Group")

 

Results of Annual General Meeting 

 

Global Invacom (SGX: QS9) (AIM: GINV), the global provider of satellite communications equipment and electronics, announces that at the Annual General Meeting ("AGM") of the Company held by electronic means today, all resolutions set out in the Notice of AGM dated 3 June 2020 were duly passed by way of a poll.

 

a)   The results of the poll on each of the resolutions at the AGM are set out below for information:

 

Resolutionnumberand details
Total
numberof
shares
represented
byvotesfor
andagainst
therelevant
resolution
For
Against
Number of
shares
Asa
percentage
oftotal
numberof
votesfor
and
againstthe
resolution
(%)
Number of
shares
Asa
percentage
oftotal
numberof
votesfor
and
againstthe
resolution
(%)
Ordinary Resolution1
Directors'Statementand AuditedFinancial Statementsfortheyear ended31December2019
118,775,841
118,775,841
100
0
0
Ordinary Resolution2
Re-electionofMrJohn Lim Yew KongasaDirector
118,760,841
109,870,141
92.51
8,890,700
7.49
Ordinary Resolution3
Re-electionofMrMatthew Jonathan GarnerasaDirector
118,775,841
118,775,841
100
0
0
Ordinary Resolution 4
Approval of payment of Directors' fees for the financial year ending 31 December 2020 amounting to S$346,500, payable quarterly in arrears
118,595,841
96,416,437
81.30
22,179,404
18.70
Ordinary Resolution 5
Re-appointment of Moore Stephens LLP as Auditors
118,775,841
118,775,841
100
0
0
Ordinary Resolution 6
Authority to allot and issue Shares
118,775,841
109,885,141
92.51
8,890,700
7.49
Ordinary Resolution 7
Authority to allot and issue Shares under the Global Invacom Share Option Scheme 2013
51,857,379
42,966,679
82.86
8,890,700
17.14
Ordinary Resolution 8
Authority to offer and grant Shares under the Global Invacom Performance Share Plan 2013
51,857,379
42,966,679
82.86
8,890,700
17.14
Ordinary Resolution 9
Renewal of Share Buyback Mandate
118,775,841
118,775,841
100
0
0

 

 

b)   The details of parties who abstained from voting on the resolution(s), including the number of shares held and the individual resolution on which they abstained from voting are set out below:

 

NameofShareholder
Number ofshares
Resolution(s) Abstained
Anthony Brian Taylor
11,139,702
7,8
Malcolm John Burrell
11,139,702
7,8
Basil Chan
165,000
4,7,8
John Lim Yew Kong
15,000
2,4,7,8
Shareholders of the Company who are eligible to participate in the Global Invacom Share Option Scheme 2013
22,279,654
7
Shareholders of the Company who are eligible to participate in the Global Invacom Performance Share Plan 2013
22,279,654
8

 

c)       Agile 8 Advisory Pte. Ltd. was appointed as scrutineer for the polls conducted at the AGM.

 

Following the conclusion of the AGM, Mr Basil Chan ("Mr Chan") has retired as an Independent Director of the Company. He also ceased to be Chairman of the Remuneration Committee and a member of Audit and Risk Committee and Nominating Committee respectively.

 

The announcement on his retirement pursuant to Rule 704(7)(a) of the Listing Manual of the SGX-ST has been released on 3 June 2020.

 

The Board would like to record its appreciation to Mr Chan for his invaluable contribution and guidance during his tenure as an Independent Director of the Company.

 

The Board shall appoint a suitable candidate to fill up the vacancy in the Board and Board Committees in due course and will make the necessary announcement(s) on the SGXNet as and when appropriate.

 

The full minutes of the AGM, including questions from shareholders, can be read on the Company's website:www.globalinvacom.com/investor-relations/sgx-news.

 

For further information, please contact:

 

Global Invacom Group Limited
www.globalinvacom.com
Matthew Garner, Chief Financial Officer
Tel: +65 6431 0782
Tel: +44 203 053 3523
finnCap Ltd (Nominated Adviser and Joint Broker)
www.finncap.com
Christopher Raggett / Matthew Radley (Corporate Finance)
Tel: +44 207 220 0500
Mirabaud Securities LLP (Joint Broker)
www.mirabaud.com
Peter Krens (Equity Capital Markets)
Tel: +44 207 878 3362
Vigo Communications (Media & Investor Relations)
www.vigocomms.com
Jeremy Garcia / Charlie Neish
Tel: +44 207 390 0238
ginv@vigocomms.com


 

About Global Invacom Group Limited

 

Global Invacom is a fully integrated satellite equipment provider with six manufacturing plants across China, Israel, Malaysia, UK and the US. Its customers include satellite broadcasters such as BSkyB of the UK and Dish Network of the USA and Data over Satellite providers including Hughes Network Systems, Viasat and Gilat Satellite Networks.

 

Global Invacom provides a full range of antennas, LNB receivers, transceivers, fibre distribution equipment, transmitters, switches and video distribution components and electronics manufacturing services in satellite communications as well as manufacturing services in military, medical, and consumer electronics industries. Following the acquisition in 2015 of Global Skyware, a leading US‐based designer and supplier of satellite antennas products and services, the Company became the world's only full‐service outdoor unit supplier.

 

Global Invacom is listed on the Mainboard of the Singapore Exchange Securities Trading Limited and its shares are admitted to trading on the AIM Market of the London Stock Exchange.

 

For more information, please refer to www.globalinvacom.com

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

 
  END

 

 
RAGSEAFWLESSESM