CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT On voting, each proposal was put to vote as a separate resolution. We do not “bundle” resolutions.Shareholders appointed Chairman as their proxy to vote on their behalf at the 24th AGM. All proxy votes were received by the 72 hours’ deadline prior to meeting and were verified by the appointed independent scrutineers. Extraordinary General Meeting (EGM) The Company convened an EGM on 15 December 2021 to seek shareholders’ approval for the proposed acquisition of all of the issued and outstanding interests of TransCore Partners, LLC and TLP Holdings, LLC from TransCore Holdings, LLC. The Company recieved an overwhelming support of 99.92% approval for the proposed acquisition. Read our AGM and EGM minutes 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 On 24 February 2022, the Board approved a dividend policy to declare dividends every quarter instead of twice a year previously. For FY2022, the plan is for dividends to be paid four times a year, at 4.0 cents per share each time resulting in total dividends of 16.0 cents per share payable for FY2022 (compared to the 15.0 cents per share paid or payable for FY2021). The dividends for FY2022 are currently scheduled to be paid in June 2022, September 2022, December 2022 and May 2023. As and when the Board declares an interim dividend for each of the first three quarters of FY2022, ST Engineering will announce the relevant record date and payment date on SGXNet. The final dividend payable in May 2023 is subject to shareholders’ approval at the ST Engineering AGM to be held in April 2023, 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 FY2022. This change from declaring dividends semi-annually to quarterly will provide shareholders with more frequent income streams. Notwithstanding the new dividend policy, ST Engineering continues to focus on and has sufficient financial capacity to seek growth pursuant to the Group’s strategy as communicated at its Investor Day in November 2021, and as it has demonstrated in the last few years. Engagement with Shareholders (Principle 12) ST Engineering treats all shareholders fairly and equitably in order to enable them to exercise shareholders’ rights and have the opportunity to communicate their views on matters affecting the Company. The Company ensures that all communications 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 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 multi-channel 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. 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. 117 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT GOVERNANCE → Corporate Governance Report Read our AGM and EGM minutes 76 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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