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    M44U   SG1S03926213

MAPLETREE LOGISTICS TRUST

(M44U)
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Mapletree Logistics Trust : Minutes of Annual General Meeting of Mapletree Logistics Trust

08/12/2021 | 06:12am EDT

MAPLETREE LOGISTICS TRUST

(constituted in the Republic of Singapore pursuant to a trust deed dated 5 July 2004 (as amended))

MINUTES OF PROCEEDINGS OF 12TH ANNUAL GENERAL MEETING

Date/Time

: Tuesday, 13 July 2021 at 2.30 p.m.

Venue

: Held via electronic means

Present

: Unitholders of Mapletree Logistics Trust ("MLT") as per

attendance records maintained by the Manager (as defined

below)

In attendance

: Directors, management, joint company secretary and lawyers of

the Manager and representatives from HSBC Institutional Trust

Services (Singapore) Limited, the trustee of MLT and

PricewaterhouseCoopers LLP, the auditor of MLT, per

attendance records maintained by the Manager

Introduction

  1. Mr Wan Kwong Weng, as Joint Company Secretary, announced at 2.32 p.m. that the 12th Annual General Meeting of MLT would commence. He introduced himself as the Joint Company Secretary of Mapletree Logistics Trust Management Ltd., the manager of MLT (the "Manager"), and informed unitholders of MLT ("Unitholders") that in view of the ongoing COVID-19 situation, MLT was conducting its annual general meeting ("AGM" or "Meeting") this year via electronic means pursuant to the COVID-19 (Temporary Measures) Order 2020. He also thanked Unitholders for pre-registering for the AGM and submitting questions in advance. Unitholders were informed that the Manager's responses to the questions received from Unitholders had been published on the websites of MLT and SGX prior to the Meeting.
  2. Mr Wan Kwong Weng proceeded to introduce the Directors and the executive officers of the Manager who were present in person and via video conference, and added that representatives from HSBC Institutional Trust Services (Singapore) Limited, the trustee of MLT (the "Trustee") and PricewaterhouseCoopers LLP, the auditor of MLT (the "Auditor"), were also in attendance.
  3. Unitholders were informed that in accordance with the trust deed constituting MLT, the Trustee had nominated Mr Lee Chong Kwee, Chairman of the Board of Directors of the Manager, to preside as the Chairman of the Meeting ("Chairman").

Quorum

4. As a quorum was present, Chairman declared the Meeting open at 2.36 p.m.

Notice

5. Chairman noted that the purpose of the Meeting was to seek the approval of Unitholders for the 3 resolutions (the "Resolutions") set out in the Notice of AGM dated 21 June 2021 which was sent by electronic means via publication on the website of MLT and made available on the website of SGX.

6. The Notice of AGM was taken as read.

Presentation by Management and Responses to Questions Received from Unitholders

  1. Chairman then invited Ms Ng Kiat and Ms Charmaine Lum, the CEO and CFO of the Manager respectively, to give Unitholders a brief overview on the financial year ended 31 March 2021.
  2. The CEO and CFO gave a presentation on MLT's performance for the year ended 31 March 2021 and the impact of COVID-19 on the business. A copy of the presentation was uploaded onto the website of MLT and on SGXNet prior to the Meeting.
  3. After the presentation by the CEO and CFO, Chairman informed Unitholders that the Manager would address the questions submitted via the online chat box by Unitholders who were participating through the live audio-visual webcast.
  4. As there were no questions received via the online chat box, Chairman proceeded with the Meeting.

Conduct of Voting

  1. Chairman informed Unitholders that in accordance with the COVID-19 (Temporary Measures) Act 2020 and the related order on the conduct of alternative arrangements for general meetings, all votes on the resolutions tabled at the AGM would be by proxy and only the Chairman of the Meeting may be appointed as a proxy. Chairman added that in his capacity as Chairman of the Meeting and as sole proxy holder, he proposed all the resolutions to be tabled at the Meeting and and would vote in accordance with the specific instructions of Unitholders on each of the resolutions.
  2. Chairman explained that all resolutions tabled at the AGM would be voted by poll based on the proxy forms that had been submitted to the Manager at least 72 hours before the AGM. Chairman further informed Unitholders that RHT Governance, Risk & Compliance (Singapore) Pte. Ltd. had been appointed as scrutineer ("Scrutineer"), and the poll results had already been verified by the Scrutineer. The tabulated poll results would be declared after the motions had been put to a vote.

As Ordinary Business

  1. Resolution 1 was to receive and adopt the Report of the Trustee, the Statement by the Manager and the Audited Financial Statements of MLT for the financial year ended 31 March 2021 together with the Auditor's Report thereon. Chairman proceeded to cast his votes in accordance with the voting instructions received.
  2. Based on the Scrutineer's report, the voting results for Resolution 1 were as follows.
    Votes FOR the resolution: 98.35%
    Votes AGAINST the resolution: 1.65%

2

Based on the results of the poll, Chairman declared Resolution 1 carried as an ordinary resolution.

  1. It was resolved as an Ordinary Resolution that the Report of the Trustee, the Statement by the Manager and the Audited Financial Statements of MLT for the financial year ended 31 March 2021 and the Auditor's Report thereon, be received and adopted.
  2. Resolution 2 was to re-appoint PricewaterhouseCoopers LLP as auditor of MLT to hold office from the conclusion of the Meeting until the conclusion of the next AGM of MLT, and to authorise the Manager to fix their remuneration. Chairman proceeded to cast his votes in accordance with the voting instructions received.
  3. Based on the Scrutineer's report, the voting results for Resolution 2 were as follows.
    Votes FOR the resolution: 97.81%
    Votes AGAINST the resolution: 2.19%
    Based on the results of the poll, Chairman declared Resolution 2 carried as an ordinary resolution.
  4. It was resolved as an Ordinary Resolution that PricewaterhouseCoopers LLP be re-appointed as the auditor of MLT to hold office from the conclusion of the Meeting until the conclusion of the next annual general meeting of MLT, and that the Manager be authorised to fix their remuneration.

As Special Business

19. Resolution 3 was to approve a general mandate to be given to the Manager to

  1. (i) issue new units in MLT ("Units") whether by way of rights, bonus or otherwise, and/or
    1. make or grant offers, agreements or options (collectively, "Instruments") that might or would require Units to be issued, including but not limited to the creation and issue of (as well as adjustments to) securities, warrants, debentures or other instruments convertible into Units,

at any time and upon such terms and conditions and for such purposes and to such persons as the Manager may in its absolute discretion deem fit; and

  1. issue Units in pursuance of any Instruments made or granted by the Manager while this Resolution was in force (notwithstanding that the authority conferred by this Resolution may have ceased to be in force at the time such Units are issued),
    provided that the conditions set out in the Notice of AGM are met.

Chairman proceeded to cast his votes in accordance with the voting instructions received.

3

  1. Based on the Scrutineer's report, the voting results for Resolution 3 were as follows.
    Votes FOR the resolution: 93.96%
    Votes AGAINST the resolution: 6.04%
    Based on the results of the poll, Chairman declared Resolution 3 carried as an ordinary resolution.
  2. It was resolved as an Ordinary Resolution that approval be and is hereby given to the Manager to
    1. (i) issue Units whether by way of rights, bonus or otherwise; and/or
      1. make or grant Instruments that might or would require Units to be issued, including but not limited to the creation and issue of (as well as adjustments to) securities, warrants, debentures or other instruments convertible into Units,

at any time and upon such terms and conditions and for such purposes and to such persons as the Manager may in its absolute discretion deem fit; and

  1. issue Units in pursuance of any Instruments made or granted by the Manager while this Resolution was in force (notwithstanding that the authority conferred by this Resolution may have ceased to be in force at the time such Units are issued),
    provided that:
    1. the aggregate number of Units to be issued pursuant to this Resolution (including Units to be issued in pursuance of Instruments made or granted pursuant to this Resolution) shall not exceed fifty per cent. (50%) of the total number of issued Units (as calculated in accordance with sub-paragraph (2) below), of which the aggregate number of Units to be issued other than on a pro rata basis to Unitholders (including Units to be issued in pursuance of Instruments made or granted pursuant to this Resolution) shall not exceed twenty per cent. (20%) of the total number of issued Units (as calculated in accordance with sub-paragraph (2) below);
    2. subject to such manner of calculation as may be prescribed by Singapore Exchange Securities Trading Limited (the "SGX-ST") for the purpose of determining the aggregate number of Units that may be issued under sub-paragraph (1) above, the total number of issued Units shall be based on the total number of issued Units at the time this Resolution is passed, after adjusting for:
      1. any new Units arising from the conversion or exercise of any Instruments which are outstanding or subsisting at the time this Resolution is passed; and
      2. any subsequent bonus issue, consolidation or subdivision of Units;

4

  1. in exercising the authority conferred by this Resolution, the Manager shall comply with the provisions of the Listing Manual of the SGX-ST for the time being in force (unless such compliance has been waived by the SGX-ST) and the trust deed constituting MLT (as amended) (the "Trust Deed") for the time being in force (unless otherwise exempted or waived by the Monetary Authority of Singapore);
  2. (unless revoked or varied by Unitholders in a general meeting) the authority conferred by this Resolution shall continue in force until (i) the conclusion of the next Annual General Meeting of MLT or (ii) the date by which the next Annual General Meeting of MLT is required by applicable regulations to be held, whichever is earlier;
  3. where the terms of the issue of the Instruments provide for adjustment to the number of Instruments or Units into which the Instruments may be converted in the event of rights, bonus or other capitalisation issues or any other events, the Manager is authorised to issue additional Instruments or Units pursuant to such adjustment notwithstanding that the authority conferred by this Resolution may have ceased to be in force at the time the Instruments or Units are issued; and
  4. the Manager and the Trustee be and are hereby severally authorised to complete and do all such acts and things (including executing all such documents as may be required) as the Manager or, as the case may be, the Trustee may consider expedient or necessary or in the interest of MLT to give effect to the authority conferred by this Resolution.

Close of the Meeting

22. As there was no other matter to be transacted at the Meeting, the Chairman declared the Meeting closed at 3.02 p.m.

CONFIRMED AS A TRUE RECORD OF THE PROCEEDINGS HELD

LEE CHONG KWEE

CHAIRMAN

BOARD OF DIRECTORS

MAPLETREE LOGISTICS TRUST MANAGEMENT LTD.

5

Disclaimer

Mapletree Logistics Trust published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2021 10:10:50 UTC.


© Publicnow 2021
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