SATS : SGX 24 Sep 2020 Results of AGM held on 24 September 2020

10/02/2020 | 01:05am EST

RESULTS OF THE 47TH ANNUAL GENERAL MEETING

HELD ON 24 SEPTEMBER 2020 AT 11.00 AM

The Board of Directors of SATS Ltd. ("SATS" or the "Company") wishes to announce that pursuant to Rule 704(16) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("Listing Manual"), all of the resolutions set out in the Notice of Annual General Meeting ("AGM") dated 26 August 2020 were duly approved and passed by the Company's shareholders at the AGM held on 24 September 2020. Voting at the AGM was conducted by poll.

RESULTS OF ANNUAL GENERAL MEETING HELD ON 24 SEPTEMBER 2020

Breakdown of all valid votes cast at the AGM

						Total number	For		Against
Resolutions				of shares
			No. of Shares	%	No. of Shares	%
						represented by
						votes for and
						against the
						relevant
						resolution
1.	Adoption of the Directors'
	Statement,	the	Audited
	Financial Statements and	666,876,256	666,821,258	99.99	54,998	0.01
	the	Auditors'	Report
	thereon
2.	Re-election	of	Mr	Yap	675,222,226	675,057,028	99.98	165,198	0.02
	Kim Wah as Director

3.	Re-election	of	Mr	Achal	676,141,626	675,960,800	99.97	180,826	0.03
	Agarwal as Director

4.	Re-election	of	Mr	Chia	675,216,436	672,787,222	99.64	2,429,214	0.36
	Kim Huat as Director

5.	Re-election of Ms Jessica	675,217,526	675,053,328	99.98	164,198	0.02
	Tan Soon Neo as Director

6.	Approval	of	Directors'
	fees for the financial year	676,093,292	675,674,761	99.94	418,531	0.06
	ending 31 March 2021
7.	Re-appointment of KPMG
	LLP	as Auditors	and
	authorisation	for	the	676,155,656	675,993,028	99.98	162,628	0.02
	Directors	to	fix	their
	remuneration

SATS Ltd. 新翔集团有限公司

P.O. Box 3 Singapore Changi Airport Singapore 918141 邮政信箱3 号新加坡樟宜国际机场新加坡918141

sats.com.sg

Co. Reg. No. 197201770G

Total number

For

Against

Resolutions

of shares

No. of Shares

represented by

votes for and

against the

relevant

resolution

To grant authority to the

Directors

issue

additional

and

convertible

instruments

676,541,160

654,984,596

96.81

21,556,564

3.19

pursuant

Section

161

of the Companies

Act,

Chapter 50 of Singapore

To grant authority to the

Directors to grant awards

and

issue

accordance

with

the

671,041,858

639,577,067

95.31

31,464,791

4.69

provisions of

the

SATS

Performance Share Plan

and

SATS

Restricted

Share Plan

10.

To approve the proposed

renewal

the

Mandate

230,020,350

229,874,970

99.94

145,380

0.06

for

Interested

Person

Transactions

11.

To approve the proposed

renewal

the

676,134,426

675,968,328

99.98

166,098

0.02

Purchase Mandate

Mr Achal Agarwal who was re-elected as a Director of the Company at the AGM, remains as a member of the Board Executive Committee and a member of the Remuneration and Human Resource Committee.

Mr Chia Kim Huat who was re-elected as a Director of the Company at the AGM, remains as a member of the Board Risk and Safety Committee and a member of the Nominating Committee.

Rule 704(8) of the Listing Manual

Mr Yap Kim Wah who was re-elected as a Director of the Company at the AGM, remains as a member of the Audit Committee and a member of the Board Risk and Safety Committee. The Board considers Mr Yap Kim Wah as independent for the purpose of Rule 704(8) of the Listing Manual. Following the announcement on the Changes to the Composition of the Board Risk and Safety Committee ("BRSC"), Mr Yap Kim Wah will be appointed as the Chairman of the BRSC in place of Mr Tan Soo Nan who will be stepping down as the Chairman of the BRSC and shall remain as a member of the BRSC, with effect from 25 September 2020.

Ms Jessica Tan Soon Neo who was re-elected as a Director of the Company at the AGM, remains as a member of the Audit Committee and a member of the Nominating Committee. The Board considers Ms Jessica Tan Soon Neo as independent for the purpose of Rule 704(8) of the Listing Manual.

Details of parties who are required to abstain from voting on any resolution(s), including the number of shares held and the individual resolution(s) on which they are required to abstain from voting
1. Mr Yap Kim Wah, who holds 3,400 shares, abstained from voting on Ordinary Resolution 2 in respect of his own re-election as Director of the Company.
2. Mr Achal Agarwal, who holds 31,900 shares, abstained from voting on Ordinary Resolution 3 in respect of his own re-election as Director of the Company.
3. Mr Chia Kim Huat, who holds 5,090 shares, abstained from voting on Ordinary Resolution 4 in respect of his own re-election as Director of the Company.
4. Ms Jessica Tan Soon Neo, who holds 3,100 shares, abstained from voting on Ordinary Resolution 5 in respect of her own re-election as Director of the Company.
5. All the non-executive Directors of the Company, who are also shareholders and collectively hold 145,652 shares (directly or indirectly), abstained from voting on Ordinary Resolution 6 in respect of the payment of Directors' Fees to the non-executive Directors for the financial year ending 31 March 2021.
6. All Directors of the Company, who are also shareholders and collectively hold 3,705,800 shares, abstained from voting on Ordinary Resolution 9 relating to the authority to grant awards and issue shares in accordance with the provisions of the SATS Performance Share Plan and SATS Restricted Share Plan.
7. Temasek Holdings (Private) Limited and its associates, abstained from voting on Ordinary Resolution 10 relating to the renewal of the Interested Person Transactions Mandate.
Name of firm and/or person appointed as scrutineers

RHT Governance, Risk & Compliance (Singapore) Pte. Ltd. was appointed as the scrutineers for the AGM.

By Order of the Board

Prema Company Secretary

24 September 2020

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SATS Ltd. published this content on 01 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 October 2020 05:04:02 UTC

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SATS : SGX 24 Sep 2020 Results of AGM held on 24 September 2020

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