2020 UEM Edgenta Annual Report

occur. This would reduce substantial administrative time and expenses associated with the convening of such meetings without compromising the corporate objectives of the Group or affecting the business opportunities available to the Group. The shareholders’ mandate is subject to renewal on an annual basis. The details on the Proposed Renewal of Existing Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature are set out in Part A of Appendix I of the Circular to Shareholders dated 27 April 2021. ORDINARY RESOLUTION 8 – PROPOSED NEW SHAREHOLDERS’ MANDATE FOR ADDITIONAL RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE Ordinary Resolution 8 is to seek shareholder’s mandate in relation to additional recurrent related party transactions to be entered into by the Company and its subsidiaries. This resolution, if passed, will enable UEM Edgenta Group to enter into recurrent related party transactions of a revenue or trading nature which are necessary for UEM Edgenta Group’s day-to-day operations, subject to the transactions being in the ordinary course of business and on normal commercial terms which are not more favourable to the related parties than those generally available to the public and are not to the detriment of the minority shareholders of the Company. This mandate will eliminate the necessity to convene separate general meetings from time to time to seek shareholders’ approval as and when such recurrent related party transactions occur. This would reduce substantial administrative time and expenses associated with the convening of such meetings without compromising the corporate objectives of the Group or affecting the business opportunities available to the Group. The shareholders’ mandate is subject to renewal on an annual basis. The details on the Proposed New Shareholders’ Mandate for Additional Recurrent Related Party Transactions of a Revenue or Trading Nature are set out in Part B of Appendix I of the Circular to Shareholders dated 27 April 2021. TO RECEIVE THE AUDITED FINANCIAL STATEMENTS Agenda Item No. 1 is meant for discussion only as the provisions of Sections 248(2) and 340(1) of the Act does not require a formal approval of shareholders for the Audited Financial Statements. Hence, this item of the Agenda is not put forward for voting. PAYMENT OF DIRECTORS’ FEES The Directors’ fees under Agenda Item No. 4 is payable to each of the Non-Executive Directors, on a quarterly basis as follows:- Directors’ Fees Non-Executive Chairman Non-Executive Director Per Quarter (RM) Per Annum (RM) Per Quarter (RM) Per Annum (RM) Board 52,500 210,000 27,000 108,000 Audit Committee 12,500 50,000 7,500 30,000 Other Board Committees 6,250 25,000 3,750 15,000 EXPLANATORY NOTES ON SPECIAL BUSINESS:- ORDINARY RESOLUTION 7 – PROPOSED RENEWAL OF EXISTING SHAREHOLDERS’ MANDATE FOR RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE The proposed Ordinary Resolution 7, if passed, will allow UEM Edgenta Group to enter into recurrent related party transactions which are of a revenue or trading nature and necessary for UEM Edgenta Group’s day-to-day operations, subject to the transactions being carried out in the ordinary course of business and on terms not to the detriment of the minority shareholders of the Company. In addition, it will eliminate the necessity to convene separate general meetings from time to time to seek shareholders’ approval as and when such recurrent related party transactions Details of persons who are standing for election as Directors (excluding Directors standing for re-election) No individual is seeking election as a Director at the 58 th Annual General Meeting. UEM EDGENTA BERHAD 336 Shareholders’ Information STATEMENT ACCOMPANYING NOTICE OF THE 58 TH ANNUAL GENERAL MEETING (Pursuant to Paragraph 8.27(2) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad) NOTICE OF THE 58 TH ANNUAL GENERAL MEETING