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As a result of the series of announcements by the Ministerial Task Force on Covid-19 (“MTF”) culminating in the enhanced measures and restrictions announced on 3 April 2020, Singapore Technologies Engineering Ltd (“ST Engineering”) wishes to announce that it will be deferring its Annual General Meeting (“AGM”) originally scheduled for 23 April 2020 to a future date to be determined, and that the record date and payment date for the final dividend for the financial year ended 31 December 2019 will also be deferred accordingly.

ST Engineering will update shareholders on the date for the deferred AGM and the revised record date and payment date for the final dividend, as well as the procedures for participation, after the legislative amendments to facilitate the holding of the AGM have been passed and the necessary arrangements have been put in place in order to adopt the recommended measures for conducting meetings (as appropriate) and implement the safe distancing measures put in place by the Ministry of Health (“MOH”). According to the press release issued by the Ministry of Law and the Ministry of Finance on 31 March 2020, the new legislation will be introduced at the next sitting of Parliament on or about 7 April 2020.

Subject to the aforesaid legislative amendments, any further directives or statements that may be issued by the MOH or other relevant authorities in light of the Covid-19 situation from time to time, and any relevant approvals or considerations, ST Engineering hopes to be able to hold the AGM as soon as practicable, and to be able to pay out its final dividend of 10.0 cents per share for the year ended 31 December 2019 soon after (and subject to) shareholders’ approval at the deferred AGM.  

The AGM notice and other accompanying documents for the deferred AGM will be sent to shareholders in due course. These documents will supersede all previous communications insofar as they relate to the convening of the AGM originally scheduled for 23 April 2020.

ST Engineering’s Annual Report for the financial year ended 31 December 2019 will be uploaded to its corporate website by 15 April 2020. ST Engineering will release a further announcement to inform shareholders when the Annual Report is uploaded.

The deferment follows:- 

  1. the notification issued on 24 March 2020 by the MOH stating that all events and mass gatherings must be deferred or cancelled regardless of size and the MTF announcement on enhanced measures and restrictions issued on 3 April 2020
  2. ​the joint statement issued on 25 March 2020 by ACRA, MAS and SGX RegCo stating that all listed issuers are expected to comply with the MOH’s safe distancing measures, and that legislative amendments are being proposed for Parliament sitting in April 2020 in relation to the conduct of meetings (which include allowing issuers the flexibility to hold meetings by virtual means); 
  3. the press release issued on 31 March 2020 by the Ministry of Law and the Ministry of Finance on Covid-19 relief measures and the upcoming legislative provisions to provide legal certainty on holding of meetings; and
  4. the further joint statement issued on 31 March 2020 by ACRA, MAS and SGX RegCo giving updated guidance on general meetings.

 

By order of the Board  

Ng Kwee Lian (Karen)

Company Secretary 

6 April 2020

 

Read more on FAQs related to AGM deferment.