Valuetronics : Results, Minutes and Presentation Slides of Annual General Meeting

REPL::Annual General Meeting::Voluntary

14/8/20, 6:46 PM

REPL::ANNUAL GENERAL MEETING::VOLUNTARY

Issuer & Securities

Issuer/ Manager

VALUETRONICS HOLDINGS LIMITED

Security

VALUETRONICS HOLDINGS LIMITED - BMG9316Y1084 - BN2

Announcement Details

Announcement Title

Annual General Meeting

Date &Time of Broadcast

14-Aug-2020 18:45:38

Status

Replacement

Announcement Reference

SG200721MEETIAAJ

Submitted By (Co./ Ind. Name)

Tse Chong Hing

Designation

Chairman and Managing Director

Financial Year End

31/03/2020

Event Narrative

	Narrative	Narrative Text
	Type
	Additional	Please see (i) Results of Annual General Meeting ("AGM"), (ii) Minutes of AGM and (iii) AGM
	Text	Presentation Slides attached.
Event Dates

Meeting Date and Time

14/08/2020 10:00:00

https://links.sgx.com/1.0.0/corporate-announcements/OWVM4XHZ…2489ebf9328df415645374f64a4ee2084a6ef408c937a2eaf5b758c05900

Page 1 of 2

REPL::Annual General Meeting::Voluntary

14/8/20, 6:46 PM

Response Deadline Date

11/08/2020 10:00:00

Event Venue(s)

Place

	Venue(s)	Venue details
	Meeting Venue	The AGM was held by electronic means on Friday, 14 August 2020, at 10.00 a.m.

Attachments

VHL-AGM%20Results-20200814.pdf

VHL-AGM%20Minutes-20200814.pdf

VHL-FY2020%20AGM%20Presentation%20Slides.pdf

Total size =6098K MB

Related Announcements

Related Announcements

14/08/2020 07:20:00 21/07/2020 07:06:51

https://links.sgx.com/1.0.0/corporate-announcements/OWVM4XHZ…489ebf9328df415645374f64a4ee2084a6ef408c937a2eaf5b758c05900

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VALUETRONICS HOLDINGS LIMITED

(Incorporated in Bermuda on 18 August 2006)

(Company Registration Number: 38813)

RESULTS OF ANNUAL GENERAL MEETING

The Board of Directors ("Board") of Valuetronics Holdings Limited (the "Company") wishes to announce that at the Annual General Meeting ("AGM") of the Company held today, conducted via electronic means (live audio-and-visual webcast and audio-only stream), all resolutions set out in the Notice of AGM dated 21 July 2020 were put to vote at the AGM and duly passed by way of poll.

1. Poll Results
   The results of the poll on each of the resolutions put to vote at the AGM are set out below:

Total number of

For

Against

shares

As a

As a

percentage of

Resolution number

represented by

percentage of

total number of

and details

votes for and

Number of

Number of

total number of

votes for and

against the

shares

shares

votes for and

against the

relevant resolution

against the

resolution (%)

resolution (%)

Ordinary Resolution 1

Directors' Report and Audited

171,658,181

171,648,181

99.99

10,000

0.01

Financial Statements for the

year ended 31 March 2020

Ordinary Resolution 2

Payment of proposed final

172,833,211

172,823,211

99.99

10,000

0.01

dividend

Ordinary Resolution 3

Re-election of Mr Chow Kok

140,807,350

139,533,570

99.10

1,273,780

0.90

Kit as a Director

Ordinary Resolution 4

Re-election of Ms Tan Siok

172,708,211

171,832,431

99.49

875,780

0.51

Chin as a Director(1)

Ordinary Resolution 5

Approval of Directors' fees for

172,575,411

172,513,211

99.96

62,200

0.04

the year ending 31 March

2021, to be paid quarterly in

arrears

Ordinary Resolution 6

Re-appointment of

172,812,211

172,802,211

99.99

10,000

0.01

PricewaterhouseCoopers as

Auditors

Valuetronics Holdings Limited

Results of AGM - 14 August 2020

Page 2

Resolution number and details

Ordinary Resolution 7

Authority to issue shares

Ordinary Resolution 8

Authority to allot and issue shares under the Valuetronics Employee Share Option Scheme and the Valuetronics Performance Share Plan

Ordinary Resolution 9

Renewal of Share Buyback Mandate

Note:

Total number of

For

Against

As a

As a

shares

percentage of

represented by

percentage of

total number of

votes for and

Number of

Number of

total number of

votes for and

against the

shares

shares

votes for and

relevant resolution

against the

against the

resolution (%)

resolution (%)

172,809,711

130,446,268

75.49

42,363,443

24.51

172,809,911

129,958,272

75.20

42,851,639

24.80

172,555,411

172,500,411

99.97

55,000

0.03

1. Ms Tan Siok Chin ("Ms Tan"), who was re-elected as a Director of the Company at the AGM, remains as Chairman of the Remuneration Committee and, a member of the Audit and Nominating Committees. The Board considers Ms Tan to be independent for the purposes of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited.

1. Abstention from voting
2. 1. No party was required to abstain from voting on any of the above-mentioned resolutions.
   2. For good corporate governance, the following Director had voluntarily abstained from voting on Ordinary Resolution 3:

Name of Director/Shareholder	Number of Shares Held
Chow Kok Kit	32,000,361

1. Scrutineer
   Finova BPO Pte. Ltd. was appointed as scrutineer for the AGM.

By Order of the Board

Tse Chong Hing

Chairman & Managing Director

14 August 2020

		VALUETRONICS HOLDINGS LIMITED
		(Incorporated in Bermuda)
		(Co. Regn. No. 38813)
		MINUTES OF ANNUAL GENERAL MEETING
		CONDUCTED VIA ELECTRONIC MEANS
DATE	: Friday, 14 August 2020
TIME	:	10:00 am
PRESENT	: As per Attendance List maintained by the Company.
IN ATTENDANCE	: As per Attendance List maintained by the Company.
CHAIRMAN	:	Mr Tse Chong Hing

PRESENTATION ON FY2020 FINANCIAL HIGHLIGHTS

The Chief Financial Officer presented financial highlights for the financial year ended 31 March 2020.

INTRODUCTION

After presentation by the Chief Financial Officer, the Chairman welcomed shareholders to the meeting and introduced the Directors (namely, Mr Chow Kok Kit, Mr Ong Tiew Siam, Mr Loo Cheng Guan and Ms Tan Siok Chin), the Chief Financial Officer, Mr Joseph Lui Ka Ho and the Company's Auditor, Mr Peter Tsang from PricewaterhouseCoopers who joined via live webcast remotely. The Company Secretary and representatives from the Company's Share Transfer Agent and Scrutineers for the meeting were present via electronic means.

QUORUM

The meeting was informed that:

1. In view of the evolving COVID-19 situation and pursuant to the guidance issued by the relevant regulators in Singapore, the Company had made arrangement for shareholders to attend the meeting by electronic means.
2. Shareholders' attendance at the meeting including those attending via live audio-and- visual webcast or audio-only stream had been verified by the Company's share transfer agent. Accordingly, the Chairman acknowledged the attendance of these shareholders as present by electronic means.

There being a quorum, the Chairman declared the meeting open.

NOTICE

The Notice convening the meeting was agreed to be taken as read.

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 2 of 10

PROXY VOTING AND VOTING BY WAY OF POLL

Shareholders were informed that:

1. Pursuant to the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020, the Chairman, in his capacity as Chairman of the Meeting, had been appointed by shareholders who had submitted their voting instructions by the stipulated deadline as their proxy and would be voting in accordance with their instructions.
2. All motions tabled at the meeting were voted on by way of poll, pursuant to Bye-law 73(A) of the Company's Bye-Laws, and counted based on the Proxy Forms that were submitted to the Company at least 72 hours before the meeting.
3. Finova BPO Pte. Ltd. had been appointed as Scrutineer for the purpose of the poll.

QUESTIONS FROM SHAREHOLDERS

It was noted that as announced by the Company on 21 July 2020, shareholders were invited to submit their questions in relation to the business of the meeting to the Company, in advance, by 10:00 am on 11 August 2020.

The Chairman informed that the Company had received questions from shareholders and had before market opened on 14 August 2020 published its responses to the questions received earlier via SGXNet and on the Company's website.

The Chairman then proceeded with the ordinary business of the meeting.

ORDINARY BUSINESS:

REPORT OF DIRECTORS, AUDITED FINANCIAL STATEMENTS AND AUDITORS' REPORT - RESOLUTION 1

The following motion was proposed by the Chairman and seconded by Mr Chow Kok Kit -

"That the Report of the Directors and the Audited Financial Statements of the Company for the financial year ended 31 March 2020 together with the Auditors' Report thereon be received and adopted."

FINAL DIVIDEND - RESOLUTION 2

The Directors had recommended the payment of a final dividend of HK14 cents per share, tax not applicable, for the financial year ended 31 March 2020.

The Chairman proposed the following motion which was seconded by Mr Chow Kok Kit -

"That the payment of a final dividend of HK14 cents per share, tax not applicable, for the financial year ended 31 March 2020 be approved."

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 3 of 10

DIRECTORATE - RESOLUTION 3

Resolution 3 dealt with the re-election of Mr Chow Kok Kit, who was retiring by rotation under the Company's Bye-Laws, as a Director of the Company. Mr Chow had consented to remain in office.

The Chairman proposed and Mr Joseph Lui Ka Ho seconded the motion to approve the reelection of Mr Chow Kok Kit as a Director of the Company.

It was noted that Mr Chow Kok Kit had voluntarily abstained from voting on this resolution.

DIRECTORATE - RESOLUTION 4

Resolution 4 dealt with the re-election of Ms Tan Siok Chin, who was retiring by rotation under the Company's Bye-Laws, as a Director of the Company. Ms Tan had consented to remain in office and would, upon re-election, remain as Chairman of the Remuneration Committee and a member of the Audit and Nominating Committees. She is considered independent for the purposes of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited.

The Chairman proposed -

"That Ms Tan Siok Chin be re-elected a Director of the Company."

The motion was seconded by Mr Chow Kok Kit.

DIRECTORS' FEES - RESOLUTION 5

The Board had recommended the payment of S$230,000 as Directors' fees for the financial year ending 31 March 2021, to be paid in quarterly in arrears.

The Chairman proposed -

"That the payment of Directors' fees of S$230,000 for the financial year ending 31 March 2021 be approved and be paid quarterly in arrears at the end of each calendar quarter."

The motion was seconded by Mr Chow Kok Kit.

RE-APPOINTMENT OF AUDITORS - RESOLUTION 6

Shareholders were informed that the retiring auditors, PricewaterhouseCoopers, had expressed their willingness to continue in office.

There being no other nomination, the Chairman proposed the following motion which was seconded by Mr Chow Kok Kit -

"That PricewaterhouseCoopers be re-appointed the Company's Auditors and the Directors be authorised to fix their remuneration."

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 4 of 10

ANY OTHER ORDINARY BUSINESS

As no notice of any other ordinary business has been received by the Secretary, the Chairman proceeded to deal with the special business of the meeting.

SPECIAL BUSINESS:

AUTHORITY TO ISSUE SHARES - RESOLUTION 7

The Chairman proposed the motion to approve Resolution 7 to empower the Directors to issue shares in the capital of the Company pursuant to Rule 806 of the Listing Manual of the Singapore Exchange Securities Trading Limited.

The Chairman's proposal for Resolution 7, the text of which was set out under item 7 in the Notice of this Meeting dated 21 July 2020, was seconded by Mr Chow Kok Kit.

AUTHORITY TO ALLOT AND ISSUE SHARES UNDER THE VALUETRONICS EMPLOYEES SHARE OPTION SCHEME AND VALUETRONICS PERFORMANCE SHARE PLAN - RESOLUTION 8

Shareholders were asked to approve an Ordinary Resolution to empower Directors to allot and issue shares in the capital of the Company to all the holders of options granted by the Company under the Valuetronics Employees Share Option Scheme and pursuant to the vesting of awards under the Valuetronics Performance Share Plan.

The Chairman proposed and Mr Chow Kok Kit seconded the motion to approve Resolution 8, the text of which was set out under item 8 in the Notice of this Meeting dated 21 July 2020.

RENEWAL OF SHARE BUYBACK MANDATE - RESOLUTION 9

The last item on the Agenda was to seek shareholders' approval on the proposed renewal of the Share Buyback Mandate to enable the Company to purchase or otherwise acquire fully paid issued ordinary shares in the capital of the Company not exceeding in aggregate 10% of the total number of issued ordinary shares (excluding treasury shares and subsidiary holdings) of the Company.

Details of the proposed renewal of the Share Buyback Mandate including the rationale, source of funds and financial effects were set out in the Circular to Shareholders dated 21 July 2020.

The Chairman proposed the motion for renewal of the Share Buyback Mandate, the text of which was set out under item 9 in the Notice of this Meeting dated 21 July 2020. The motion was seconded by Mr Chow Kok Kit.

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 5 of 10

POLLING

All the motions had been duly proposed and seconded.

The Chairman informed the meeting that:

1. The validity of the Proxy Forms submitted by shareholders had been verified and the votes of all such valid proxies had been counted and verified by the Polling Agent, B.A.C.S. Private Limited, and the Scrutineer, Finova BPO Pte. Ltd..
2. He had handed the completed and signed poll voting slips, based on voting instructions specified in Proxy Forms submitted by shareholders, to the Scrutineer. Votes had been counted and verified by the Scrutineer.

POLL RESULTS

The Scrutineer, Finova BPO Pte. Ltd., had verified and certified the results of the Poll, a copy of which is attached to these Minutes as Appendix 1.

DECISION

Based on the results of votes validly cast by Poll, the Chairman declared all resolutions tabled at the meeting carried -

RESOLUTION 1

There were 171,648,181 votes in favour and 10,000 votes against the Resolution.

RESOLVED -

"That the Report of the Directors and the Audited Financial Statements of the Company for the financial year ended 31 March 2020 together with the Auditors' Report thereon be received and adopted."

RESOLUTION 2

There were 172,823,211 votes in favour and 10,000 votes against the Resolution.

RESOLVED -

"That the payment of a final dividend of HK14 cents per share, tax not applicable, for the financial year ended 31 March 2020 be approved."

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 6 of 10

RESOLUTION 3

There were 139,533,570 votes in favour and 1,273,780 votes against the Resolution.

RESOLVED -

"That Mr Chow Kok Kit be re-elected a Director of the Company."

RESOLUTION 4

There were 171,832,431 votes in favour and 875,780 votes against the Resolution.

RESOLVED -

"That Ms Tan Siok Chin be re-elected a Director of the Company."

RESOLUTION 5

There were 172,513,211 votes in favour and 62,200 votes against the Resolution.

RESOLVED -

"That the payment of Directors' fees of S$230,000 for the financial year ending 31 March 2021 be approved and be paid quarterly in arrears at the end of each calendar quarter."

RESOLUTION 6

There were 172,802,211 votes in favour and 10,000 votes against the Resolution.

RESOLVED -

"That PricewaterhouseCoopers be re-appointed the Company's Auditors and the Directors be authorised to fix their remuneration."

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 7 of 10

RESOLUTION 7

There were 130,446,268 votes in favour and 42,363,443 votes against the Resolution.

RESOLVED -

"That pursuant to Rule 806 of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), the Directors of the Company be authorised and empowered to:

1. (i) issue shares in the Company ("Shares") 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 shares to be issued, including but not limited to the creation and issue of (as well as adjustments to) warrants, debentures or other instruments convertible into shares,

at any time and upon such terms and conditions and for such purposes and to such persons as the Directors of the Company may in their absolute discretion deem fit; and

1. (notwithstanding the authority conferred by this Resolution may have ceased to be in force) issue shares in pursuance of any Instruments made or granted by the Directors of the Company while this Resolution was in force,
   provided that:
2. 1. the aggregate number of shares to be issued pursuant to this Resolution (including shares to be issued in pursuance of the Instruments, made or granted pursuant to this Resolution) shall not exceed 50% of the total number of issued shares (excluding treasury shares and subsidiary holdings) in the capital of the Company of which the aggregate number of shares to be issued other than on a pro rata basis to shareholders of the Company shall not exceed 20% of the total number of issued shares (excluding treasury shares and subsidiary holdings) in the capital of the Company (as calculated in accordance with sub-paragraph (2) below);
   2. (subject to such manner of calculation as may be prescribed by the SGX- ST) for the purpose of determining the aggregate number of shares that may be issued under sub-paragraph (1) above, the total number of issued shares (excluding treasury shares and subsidiary holdings) shall be based on the total number of issued shares (excluding treasury shares and subsidiary holdings) in the capital of the Company at the time of the passing of this Resolution, after adjusting for:
   3. 1. new shares arising from the conversion or exercise of convertible securities which were issued and outstanding or subsisting at the time of the passing of this Resolution;

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 8 of 10

1. 1. new shares arising from exercising share options or vesting of share awards which were issued and outstanding or subsisting at the time of the passing of this Resolution; and
   2. any subsequent bonus issue, consolidation or subdivision of shares;
2. in exercising the authority conferred by this Resolution, the Company 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 Bye-Laws for the time being of the Company; and
3. unless revoked or varied by the Company in a general meeting, the authority conferred by this Resolution shall continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier."

RESOLUTION 8

There were 129,958,272 votes in favour and 42,851,639 votes against the Resolution.

RESOLVED -

"That authority be and is hereby given to the Directors to offer and grant options in accordance with the provisions of the Valuetronics Employees Share Option Scheme 2017 (the "ESOS 2017") and/or to grant awards in accordance with the Valuetronics Performance Share Plan 2017 (the "PSP 2017") and to allot and issue shares from time to time, such number of shares as may be required to be issued pursuant to exercise of options under the ESOS 2017 and/or the vesting of awards under the PSP 2017, provided always that the aggregate number of additional ordinary shares to be allotted and issued pursuant to the ESOS 2017 and PSP 2017 shall not exceed fifteen percent (15%) of the total number of issued shares (excluding treasury shares and subsidiary holdings) in the capital of the Company and that such authority shall, unless revoked or varied by the Company in a general meeting, continue in force until the conclusion of the next Annual General Meeting of the Company or the date by which the next Annual General Meeting is required by law to be held, whichever is earlier."

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 9 of 10

RESOLUTION 9

There were 172,500,411 votes in favour and 55,000 votes against the Resolution.

RESOLVED -

"That -

1. for the purposes of the Companies Act of Bermuda and otherwise in accordance with the rules and regulations of the SGX-ST, the exercise by the Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued shares in the capital of the Company not exceeding in aggregate the Prescribed Limit (as defined below) at such prices as may be determined by the Directors from time to time up to the Maximum Price (as defined below), whether by way of:
2. 1. market purchases (each a "Market Purchase") on the SGX-ST or any other stock exchange on which the shares may for the time being be listed and quoted ("Other Exchange"); and/or
   2. off-marketpurchases (each an "Off-MarketPurchase") (if effected otherwise than on the SGX-ST or, as the case may be, Other Exchange) in accordance with any equal access scheme or schemes as may be determined or formulated by the Directors as they consider fit, which schemes shall satisfy all the conditions prescribed by the Companies Act of Bermuda,

and otherwise in accordance with all other laws and regulations and rules of the SGX-ST as may for the time being be applicable, be and is hereby authorised and approved generally and unconditionally (the "Renewal of the Share Buyback Mandate");

1. unless varied or revoked by the Company in general meeting, the authority conferred on the Directors pursuant to the Renewal of the Share Buyback Mandate may be exercised by the Directors at any time and from time to time during the period commencing from the date of the passing of this Resolution and expiring on the earlier of:
2. 1. the date on which the next Annual General Meeting of the Company is held; or
   2. the date by which the next Annual General Meeting of the Company is required by law to be held; or
   3. the date on which the purchases of shares by the Company have been carried out to the full extent mandated; and
3. the Directors be and are hereby authorised to complete and do all such acts and things (including executing such documents as may be required) as they may consider expedient or necessary to give effect to the transactions contemplated by this Resolution.

VALUETRONICS HOLDINGS LIMITED

Minutes of Annual General Meeting held on 14 August 2020

Page 10 of 10

In this Resolution:

"Prescribed Limit" means ten percent (10%) of the issued shares in the capital of the Company as at the date of passing of this Resolution; and "Maximum Price", in relation to the share to be purchased or acquired, means the purchase price (excluding brokerage, commission, applicable goods and services tax and other related expenses) which shall not exceed:

1. in the case of a Market Purchase, 105% of the Average Closing Price (as defined below) of the shares; and
2. in the case of an Off-Market Purchase, 110% of the Average Closing Price (as defined below) of the shares; and

where:

"Average Closing Price" means (i) the average of the closing market prices of a share over the last five market days, on which transactions in the shares were recorded, preceding the date of the Market Purchase or, as the case may be, the day of the making of the offer pursuant to the Off-Market Purchase; and (ii) deemed to be adjusted for any corporate action that occurs during the relevant five-day period and the day on which the purchase is made;

"day of the making of the offer" means the day on which the Company announces its intention to make an offer for the purchase of shares from shareholders of the Company, stating the purchase price (which shall not be more than the Maximum Price calculated on the foregoing basis) for each share and the relevant terms of the equal access scheme for effecting the Off-Market Purchase; and

"market day" means a day on which the SGX-ST is open for trading in securities."

CONCLUSION

There being no other business to transact, the Chairman declared the Annual General Meeting of the Company closed and thanked everyone for their attendance.

Confirmed as True Record of Proceedings held

[Signed]

Tse Chong Hing

Chairman

FINVA

Appendix 1

FINOVA BPO PTE. LTD.

UEN No. 201407769H

8 Robinson Road #07-00 ASO Building Singapore 048544 t. [phone] f. [phone]

VALUETRONICS HOLDINGS LIMITED

ANNUAL GENERAL MEETING ON 14 AUGUST 2020 AT 10.00 A.M.

The results of the poll on each of the Resolutions put to vote are set out below:

Resolution number and details	Total Number of	FOR		AGAINST		ABSTAIN
	Shares Represented	Number of	%	Number of	%	Number of
	by Votes For and	shares		shares		shares
	Against the
	Relevant Resolution
Ordinary Resolutions relating to:
Resolution 1
Directors' Report and Audited Financial Statements for the year	171,658,181	171,648,181	99.99	10,000	0.01	1,175,530
ended 31 March 2020

Resolution 2	172,833,211	172,823,211	99.99	10,000	0.01	500
Payment of proposed final dividend
Resolution 3	140,807,350	139,533,570	99.10	1,273,780	0.90	32,026,361
Re-election of Mr Chow Kok Kit as a Director
Resolution 4	172,708,211	171,832,431	99.49	875,780	0.51	125,500
Re-election of Ms Tan Siok Chin as a Director
Resolution 5
Approval of Directors' fees for the year ending 31 March 2021,	172,575,411	172,513,211	99.96	62,200	0.04	258,300
to be paid quarterly in arrears
Resolution 6	172,812,211	172,802,211	99.99	10,000	0.01	21,500
Re-appointment of PricewaterhouseCoopers as Auditors
Resolution 7	172,809,711	130,446,268	75.49	42,363,443	24.51	24,000
Authority to issue shares
Resolution 8
Authority to allot and issue shares under the Valuetronics	172,809,911	129,958,272	75.20	42,851,639	24.80	23,800
Employee Share Option Scheme and the Valuetronics
Performance Share Plan
Resolution 9	172,555,411	172,500,411	99.97	55,000	0.03	278,300
Renewal of Share Buyback Mandate

Page 1 of 1

Annual General Meeting

FY2020

14 August 2020

Note: This presentation is to be read in conjunction with the announcement issued on SGXNET on 3 June 2020.

1

FY2020 Annual General Meeting

Important Notice:

This presentation contains forward-looking statements which can be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimates or expectations. Such statements may include comments on industry, business or market trends, projections, forecasts, and plans and objectives of management for future operations and operating and financial performance, as well as any related assumptions.

Readers of this presentation should understand that these statements are not historical facts or guarantees of future performance but instead represent only the Company's belief at the time the statements were made regarding future events, which are subject to significant risks, uncertainties and other factors, many of which are outside of the Company's control. Actual results and outcomes may differ materially from what is expressed or implied in such forward-looking statements.

The Company cautions readers not to place undue reliance on any forward-looking statements included in this presentation, which speak only as of the date made; and should any of the events anticipated by the forward-looking statements transpire or occur, the Company makes no assurances on what benefits, if any, the Company will derive therefrom.

2

FY2020 Financial Highlights

3

Financial Highlights

Revenue Contribution

FY20

38.9%

HK$916M

61.1%

HK$1,438M

FY19

41.1%

HK$1,161M

58.9%

HK$1,668M

HK$'M	FY20	FY19	% Change
Revenue	2,354.4	2,828.8	-16.8
Gross Profit	362.8	430.3	-15.7
Gross Profit Margin	15.4%	15.2%	0.2% pt
Net Profit for	178.9	199.5	-10.3
the year
Net Profit Margin	7.6%	7.1%	0.5% pt

Consumer Electronics

Industrial and Commercial Electronics

4

HK$' M 2,900.0

2,400.0

1,900.0

1,400.0

900.0

400.0

-100.0

Revenue Trend

	2,853.7	2,828.8
2,429.3		2,354.4
2,274.9
1,952.9	1,455.6	1,667.6
956.3
1,287.8		1,438.4
1,128.3

1,473.0			1,398.1
		987.1	1,161.2
	824.6	916.0

FY15	FY16	FY17	FY18	FY19	FY20
		Consumer Electronics			Industrial & Commercial Electronics

5

Earnings Per Share & Dividends Per Share

	We are committed to formal dividend policy of 30-50% payout ratio
HK cents	FY20: interim dividend of 6 HK cents & final dividend of 14 HK cents

50.0															14.0%
45.0			11.8%		11.9%						48.1	46.2		12.0%
40.0						9.8%				41.2
				9.8%						10.0%
35.0							36.9	36.4		36.8
30.0					31.1	33.2		7.7%
										7.2% 8.0%
25.0				7.7%			7.5%	29.0
23.2	6.1%	6.0%			6.3%	6.0%
20.0
			19.9
15.0			15.2			5.3%*	4.2%		4.0%
	13.6
10.0								2.0%
5.0	7.8	4.5	7.0	14.0	17.0	8.0	20.0	20.0	20.0	20.0	27.0	25.0	20.0
0.0	0.0%
FY08	FY09	FY10	FY11	FY12	FY13	FY14	FY15	FY16 FY17# FY18	FY19	FY20
Share	0.21	0.07	0.15	0.21	0.21	0.19	0.30	0.43	0.41	0.68	1.08	0.68	0.51
Price* (S$)

Dividend	30%		30%	42%	41%	47%	37%	49%	50%	63% 55% * 57%	54%	49%
Payout
			EPS *				Dividend per share	Dividend Yield		* Adjusted for 1:10 bonus issue completed on Jun 2017
							# Quantum of dividend has increased by 10% under
								Interim Dividend
														1:10 bonus issue		6

Investor Relations Contact:
Name: Ms Candy Soh	Name: Mr Gerald Woon
Email: [e-mail]	Email: [e-mail]
Tel: + 65 6704 9288

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