Company Announcement

Boustead Singapore Limited

(Co. Reg. No. 197501036K)

82 Ubi Avenue 4

#08-01 Edward Boustead Centre

Singapore 408832

RESOLUTIONS PASSED AT ANNUAL GENERAL

MEETING HELD ON 25 AUGUST 2020

Singapore, 25 August 2020

The Board of Directors of Boustead Singapore Limited (the "Company") is pleased to announce that, on a poll vote, all of the resolutions set out in the Notice of Annual General Meeting (the "AGM") dated 3 August 2020 were duly approved and passed at the AGM held today.

The information as required under Rule 704(16) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST") is as set out below:

  1. Results of the poll and breakdown of all valid votes cast on each of the resolutions put to vote at the AGM

Resolution number and details

Ordinary Business

Ordinary Resolution 1

Adoption of the Directors' Statement and Audited Financial Statements for the year ended 31 March 2020 and the Independent Auditors' Report

Ordinary Resolution 2Final tax-exempt (one-tier)dividend of 2.0 cents per ordinary share for the year ended 31 March 2020

Ordinary Resolution 3 Re-electionof Dr Tan Khee Giap as a director of the Company

Ordinary Resolution 4 Re-electionof Mr Godfrey Ernest Scotchbrook as a director of the Company

Total

For

Against

number of

shares

represented

Number of

Number of

by votes for

(%)*

(%)*

and against

shares

shares

the relevant

resolution

292,955,799

292,955,799 100.00

Nil

Nil

293,072,899 293,072,899 100.00

Nil

Nil

293,072,899 285,168,734 97.30 7,904,165 2.70

293,072,899

271,215,967

92.54

21,856,932

7.46

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Resolution number and detail

Ordinary Business

Ordinary Resolution 5 Re-electionof Mr Liak Teng Lit as a director of the Company

Ordinary Resolution 6Directors' fees of up to $272,000 for the year ending 31 March 2021, payable quarterly in arrears

Ordinary Resolution 7 Re-appointmentof Messrs PricewaterhouseCoopers LLP as auditors of the Company

Special Business

Total

For

Against

number of

shares

represented

Number of

Number of

by votes for

(%)*

(%)*

and against

shares

shares

the relevant

resolution

293,072,899

99.96

0.04

292,967,099

105,800

293,072,899

293,072,899

100.00

Nil

Nil

293,072,899

293,002,778

99.98

70,121

0.02

Ordinary Resolution 8

Authority to allot and issue shares

293,072,899

285,402,232

97.38

7,670,667

2.62

pursuant to Section 161 of the

Singapore Companies Act

Ordinary Resolution 9

Proposed renewal of the Share

87,061,467

86,991,346

99.92

70,121

0.08

Buy-Back Mandate

Ordinary Resolution 10

Authority to grant awards and

293,072,899

264,689,658

90.32

28,383,241

9.68

issue shares pursuant to the

Boustead Restricted Share Plan

2011

Ordinary Resolution 11

Authority to allot and issue shares

293,069,899

293,069,899

100.00

Nil

Nil

pursuant to the Boustead Scrip

Dividend Scheme

  • As a percentage of total number of votes for and against the relevant resolution.

Dr Tan Khee Giap, a non-executive Director who was re-elected at the AGM, will continue to serve as the Chairman of the Audit & Risk Committee and member of the Nominating Committee and Remuneration Committee. The Board of Directors considers Dr Tan to be an independent Director for the purposes of Rule 704(8) of the Listing Manual of SGX-ST.

Mr Godfrey Ernest Scotchbrook, a non-executive Director who was re-elected at the AGM, will continue to serve as the Chairman of the Remuneration Committee

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and member of the Audit & Risk Committee. The Board of Directors considers Mr Scotchbrook to be an independent Director for the purposes of Rule 704(8) of the Listing Manual of SGX-ST.

Mr Liak Teng Lit, a non-executive Director who was re-elected at the AGM, will continue to serve as a member of the Audit & Risk Committee. The Board of Directors considers Mr Liak to be an independent Director for the purposes of Rule 704(8) of the Listing Manual of SGX-ST.

  1. Abstention from voting
    Mr Wong Fong Fui, who holds 205,798,032 shares, abstained from voting on Ordinary Resolution 9.
  2. Appointed scrutineer
    DrewCorp Services Pte Ltd was appointed as the Company's scrutineer at the AGM.

By Order of the Board

Alvin Kok

Company Secretary

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About Boustead Singapore Limited

Established in 1828, Boustead Singapore Limited (SGX:F9D) is a progressive global Infrastructure-Related Engineering and Technology Group listed on the SGX Mainboard.

Focusing on the niche engineering and development of key infrastructure to support sustainable socio-economic growth in global markets, our strong suite of engineering services under our Energy Engineering Division and Real Estate Division centres on energy infrastructure and smart eco-sustainable business park and industrial developments.

In addition, we provide technology-driven transformative solutions to improve quality of life for all walks of life. Our Geospatial Division provides professional services and exclusively distributes Esri ArcGIS technology - the world's leading geographic information system, smart mapping and location analytics platform - to major markets in the Asia Pacific including Australia, Singapore, Malaysia and Indonesia. The software creates digital infrastructure solutions that enable smart nations, smart cities and smart communities to solve the world's most complex problems through effective and sustainable improvement of human wellbeing and ecosystems, and planning and management of key infrastructure and resources. Our Healthcare Division provides niche innovative medical solutions that address age-related chronic diseases and mobility issues, with a focus on rehabilitative care and sports science in the Asia Pacific.

With a vast global network stretching across Asia, Australia, Europe, Africa and the Americas, we are ready to serve the world. To date, we have undertaken projects in 89 countries and territories globally.

In 2008 and 2009, we were recognised in the prestigious Forbes Asia 200 Best Under A Billion as one of the Asia Pacific's 200 best public-listed corporations under US$1 billion in revenue. In 2017, we were ranked by FinanceAsia as Singapore's Best Small-Cap in the annual Asia's Best Companies Poll. In 2019, we were awarded the Most Transparent Company in the Industrials Category and Sustainability Award (Runner-Up) in the Mid Cap Category by the Securities Investors Association (Singapore). In 2020, we were ranked among Singapore's Best Employers, at 38th overall and 2nd under our respective category of Business Services & Supplies (including Real Estate) in an evaluation encompassing 1,800 large corporations. We are also listed on the MSCI World Micro Cap Index, FTSE Global Small Cap Index, FTSE Developed Small Cap Index and FTSE ST Industrial Index.

Visit us at www.boustead.sg.

Contact Information

For media and investor enquiries related to Boustead Singapore Limited, please contact:

Mr Keith Chu

Senior Vice President

Corporate Marketing & Investor Relations

Main: +65 6747 0016

DID: +65 6709 8112

E-mail: keith.chu@boustead.sg

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Boustead Singapore Ltd. published this content on 25 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2020 01:36:11 UTC