CORPORATE GOVERNANCE REPORT 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 Company has adopted a dividend policy to declare dividends every quarter. For FY2024, the Company declared an interim dividend of 4.0 cents per ordinary share for each of the first three quarters. The Board has proposed a final dividend of 5.0 cents per ordinary share, subject to shareholders' approval at the AGM on 24 April 2025. If approved, total dividend for FY2024 will be 17.0 cents per ordinary share, an increase from the 16.0 cents per ordinary share for FY2023. In determining the amount of dividends, the Company will take into consideration the Group’s profit after tax, retained earnings, cash position, positive cash flow generated from operations and projected capital requirements. Upon approval by the Board for interim dividend or shareholders at the general meeting for final dividend, dividends are generally paid to all shareholders within 10 market days after the record date. In the event of a material variation in declared dividends compared to the previous corresponding period, or any decision not to declare a dividend, the reasons for such will be disclosed in accordance with the SGX-ST Listing Manual. Engagement with Shareholders (Principle 12) ST Engineering practises regular, fair and effective communications with its shareholders. The Company ensures that all communication of material information, including price-sensitive 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 serves as a vital link between the Company and the investment community. Supporting the Group President & CEO and Group CFO, the IR team fosters close and active engagement with shareholders, investors and financial analysts. Through a comprehensive multichannel communication programme, the IR team ensures stakeholders receive clear, balanced, and insightful updates on the Company’s performance, strategic position, and future prospects. Targeted events such as investor conferences, road shows, group briefings and one-on-one meetings offer opportunities for Senior Management to interact first-hand with shareholders and the investment community to understand their views, gather feedback and address concerns. Similarly, the AGM serves as a dedicated platform for retail shareholders to engage directly with Senior Management and Directors. 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. A dedicated “Investor Relations” section on our website houses current and past annual reports, half-yearly financial reports and webcasts, quarterly market updates, as well as information on AGM and other information considered to be of interest to shareholders and the investment community. ST Engineering’s Annual Report is available on our corporate website within 120 days from the end of the Group’s financial year-end. A printed copy of the latest Annual Report can be ordered at no cost upon request via email at ir@stengg.com. 104 ST ENGINEERING | ANNUAL REPORT 2024
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