All shareholders receive the Annual Report and the notice of AGM. The notice of AGM is also released via SGXNet, published in local newspapers and uploaded on the corporate website. At each general meeting, each distinct issue is proposed as a separate resolution. At the general meetings, shareholders are given the opportunity to air their views and direct questions to the Board on any matter relating to the Group’s business and operations or the resolutions tabled at the meeting. At each AGM, the CEO delivers a presentation to update shareholders on the Group’s performance over the past year. Directors and senior management are present at general meetings to address shareholders’ queries. The external auditors are also present at the AGMs of the Company to address queries about the conduct of audit and the preparation and content of the Auditors’ Report. The Company Secretary prepares minutes of general meetings, which incorporate substantial comments or queries from shareholders and responses from the Board and Management. These minutes are made available to shareholders on the Company’s website. Following the amendments to Rule 705(2) of the Listing Rules which came into effect from 7 February 2020, the Company is no longer required to release the Group’s unaudited financial statements on a quarterly basis. After due deliberation, the Board decided not to continue with quarterly reporting of the Group’s financial results and instead, release financial reports on a half-yearly basis. To supplement the half-year and full year financial reports which continue in the existing format prescribed by the Listing Rules, the Company has been providing business and financial updates for the Group’s first and third quarter performance. In addition, the Company conducts quarterly briefings with analysts based on the business and financial updates which are posted on SGXNet. At such briefings, Management openly communicates the Group’s financial and operational performances, business growth strategies as well as general business updates. The Company does not have a formal dividend policy but the Board strives to provide sustainable dividend payouts. For the financial year ended 31 December 2025, the Board has proposed a final dividend of 1.46 Singapore cents per share, which brings the full-year ordinary dividend to 2.60 Singapore cents per share. Securities Transactions The Company has adopted and issued an internal compliance code entitled “Code of Best Practice on Securities Transactions by Officers” to the Officers of the Group. The internal compliance code set out a code of conduct to provide guidance for the Officers of the Group on their dealings with the Company’s securities, as well as the implications of insider trading. Under Company’s internal compliance code, the Company, its Directors and officers should not deal in the Company’s securities during the following “black out” periods: • the period commencing two weeks before the announcement of the Company’s business and financial updates for the first and third quarters of its financial year and ending after the announcement of the relevant business and financial updates; and • the period commencing one month before the announcement of the Company’s half-year and full-year financial statements and ending immediately after the announcement of the relevant financial statements. Directors and officers are also advised to adhere to the following rules at all times: (a) observe insider trading laws and not to deal in the Company’s securities while in possession of any unpublished material price-sensitive information; and (b) not to deal in the Company’s securities on short-term considerations. In addition, Directors are required to report to the Company Secretary within two business days whenever they deal in the Company’s securities and the latter will make the necessary announcements in accordance with the requirements of the Listing Rules. The Company has complied with its Best Practices Guide on Securities Transactions. REPORT ON CORPORATE GOVERNANCE ANNUAL REPORT 2025 59
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