Wah Seong Corporation Berhad Annual Report 2019

202 WAH SEONG CORPORATION BERHAD STATEMENT ACCOMPANYING NOTICE OF TWENTIETH ANNUAL GENERAL MEETING 1. Details of Individual who is standing for election as Director. No individual is seeking for election as a Director of the Company at the Twentieth Annual General Meeting of the Company. 2. There is a renewal of the general mandate for the issuance of securities to be sought in accordance with Paragraph 6.03(3) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, at the Twentieth Annual General Meeting of the Company. No proceeds was raised from the previous mandate as the Company has not issued any new shares pursuant to Sections 75 and 76 of the Companies Act, 2016 under the general mandate which was approved at the Nineteenth Annual General Meeting of the Company held on 15 May 2019. The purpose for the general mandate being sought to issue shares pursuant to Sections 75 and 76 of the Companies Act, 2016 is to provide flexibility and expediency to the Company for any possible fund raising 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. As such, any additional cost to be incurred or delay arising from the need to convene a general meeting to approve such issuance of shares could be eliminated. 3. Date, Time and Broadcasting Venue of the Twentieth Annual General Meeting Date : Tuesday, 23 June 2020 Time : 3.00 p.m. Broadcasting Venue : Boardroom, Suite 19.01, Level 19, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Wilayah Persekutuan, Malaysia