Singapore, 11 May 2020 – Singapore Technologies Engineering Ltd (“ST Engineering” or the “Company”) sets out below its response to the query raised by the Singapore Exchange Regulation on 8 May 2020 in relation to its disclosure on dealings in securities in the Annual Report 2019.
Rule 1207(19) provides that the annual report must contain a statement whether and how the issuer has complied with the following best practices on dealings in securities:-
- A listed issuer should devise and adopt its own internal compliance code to provide guidance to its officers with regard to dealing by the listed issuer and its officer in its securities;
- An officer should not deal in his company’s securities on short-term considerations; and
- A listed issuer and its officers should not deal in the listed issuer’s securities during the period commencing two weeks before the announcement of the company financial statements for each of the first three quarters of its financial year and one month before the announcement of the company’s full year financial statements (if the issuer announces its quarterly financial statements, whether required by the Exchange or otherwise) or one month before the announcement of the company’s half year and full year financial statements (if the issuer does not announce its quarterly financial statements).
This announcement is made to supplement the Company’s disclosure in its Annual Report 2019. ST Engineering has been in compliance with the above best practices on dealings by the listed issuer and its officer in its securities as set out in the SGX Listing Rules 1207(19) in the following manner:-
- The Company has an internal code of business conduct and ethics guiding all employees with regard to dealing in securities of ST Engineering.
- At least 3 weeks before our quarterly financial results, the Company Secretary will send out reminders to Directors and Officers of ST Engineering on the prohibition of trading in ST Engineering’s securities commencing two weeks before the announcement of the financial statement for each of the first three quarters and full year financial statement as well as advising them not to trade ST Engineering’s securities on short-term considerations.
Following the amendments to the quarterly reporting framework, the Company has adopted half-year and full-year financial statement announcements instead of quarterly financial announcement. The Company and the officers will observe a one month trading black out period commencing one month before the announcement of the Company’s half-year and full-year financial statements hence forth. The Company will have a clearer statement to reflect the Company’s practices on dealings its securities in its next year’s Annual Report.
By Order of the Board
Tan Wan Hoon
Joint Company Secretary
Singapore, 11 May 2020
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