CORPORATE GOVERNANCE REPORT On voting, each proposal is put to vote as a separate resolution. We do not “bundle” resolutions unless the issues are interdependent and linked so as to form one significant proposal. If there are resolutions which are interdependent and linked, we will explain the reasons and material implications in the notice of the meeting. Detailed information on each resolution is provided in the explanatory notes to the Notice of AGM to enable shareholders to exercise their votes on an informed basis. For resolutions on the election or re-election of Directors, we provide sufficient information on the background of the Directors, their contributions to ST Engineering, and their Board and Board Committee positions they are expected to hold upon election. All proxy votes are received by the 72 hours’ deadline prior to meeting and are verified by the appointed independent scrutineers. The results of all resolutions put to vote, showing the number of votes cast for and against each resolution and the respective percentages, are tallied and shown live on-screen to shareholders immediately after the vote has been cast. The results are also announced via SGXNet immediately after the conclusion of the meeting. The Company Secretary prepares the minutes of general meetings which are published on our corporate website and where required, on SGXNet, as soon as practicable after such meetings. The minutes record substantial and relevant comments or queries from shareholders relating to the agenda of the meeting, and responses from the Board and Management. Provision 11.4 of the Code provides for a company’s constitution to allow for absentia voting at general meetings of shareholders. Presently, absentia voting (such as by mail, email or fax) is not permitted under the Company’s Constitution. The Company does not intend to amend its Constitution to provide for absentia voting until security, integrity and other pertinent issues relating to absentia voting are satisfactorily resolved. Nevertheless, the Company is of the view that notwithstanding its deviation from Provision 11.4 of the Code, shareholders are treated fairly and equitably and have the opportunity to communicate their views on matters affecting the Company. For instance, shareholders may appoint proxies to attend, speak and vote, on their behalf, at general meetings if they are unable to attend. Dividend Policy The Board approved a dividend policy in February 2022 to declare dividends every quarter instead of twice a year previously. The dividends for FY2023 are currently scheduled to be paid in June 2023, September 2023, December 2023 and May 2024. As and when the Board declares an interim dividend for each of the first three quarters of FY2023, ST Engineering will announce the relevant record date and payment date on SGXNet. The final dividend payable in May 2024 is subject to shareholders’ approval at the ST Engineering AGM to be held in April 2024, the record date and payment date for which will be announced in conjunction with the release of the Group’s full-year financial results for FY2023. Engagement with Shareholders (Principle 12) ST Engineering practises regular, fair and effective communication with its shareholders. The Company ensures that all communications of material information, including pricesensitive and trade-sensitive information, are timely, balanced and fair and in compliance with the SGX-ST Listing Manual and the Code. The Investor Relations (IR) department is an integral conduit between the Company and investment community. The Investor Relations team maintains regular dialogues with shareholders and the investment community through a multichannel programme to promote effective communication that gives them a balanced and understandable assessment of the Company’s performance, position and prospects. Targeted events such as AGMs, investor conferences, group briefings and one-on-one meetings offer opportunities for Senior Management and Directors to interact first-hand with shareholders and the investment community to understand their views, gather feedback and address concerns. Material information relating to the Company’s financial performance, business and strategic developments are published on SGXNet, and/or on our corporate website www.stengg.com. 106 ST ENGINEERING ANNUAL REPORT 2022
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