Yinson Annual Report 2020

352 Yinson Holdings Berhad SECTION 8 ANNUAL GENERAL MEETING The authority to issue shares pursuant to Sections 75 and 76 of the Act will provide flexibility and expediency to the Company for any possible fund raising activities involving the issuance or placement of shares to facilitate business expansion or strategic merger and acquisition opportunities involving equity deals or part equity or to fund future investment project(s) or for working capital requirements, which the Directors of the Company consider to be in the best interest of the Company. The approval is sought to avoid any delay and cost in convening a general meeting to approve such issuance of shares. As at the date of this Notice, the Company did not issue any new shares pursuant to the general mandate granted to the Directors at the Twenty-Sixth Annual General Meeting of the Company held on 11 July 2019 and the mandate will lapse at the conclusion of the 27 th AGM. A renewal of this authority is being sought at the 27 th AGM. 7. ORDINARY RESOLUTION 11 – PROPOSED RENEWAL OF SHARE BUY-BACK AUTHORITY The proposed Ordinary Resolution 11, if passed will empower the Company to purchase its own ordinary shares up to ten percent (10%) of the total number of issued shares of the Company (excluding treasury shares) of the Company for the time being for such purposes as the Directors of the Company consider would be in the best interest of the Company. Please refer to the Statement to Shareholders in relation to the Proposed Renewal of Share Buy-Back Authority dated 29 May 2020 accompanying Annual Report 2020 of the Company for further information on the Proposed Renewal of Share Buy-Back Authority. STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING (Pursuant to Paragraph 8.27(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad) No Director is standing for election at the forthcoming 27 th AGM. NOTICE OF ANNUAL GENERAL MEETING (cont’d)