SGX introduces new rules on poll voting and general meetings in Singapore

[CityFarmer]

The rules seems targeting S-Chip... But it is a good progress overall IMO...

SGX introduces new rules on poll voting and general meetings in Singapore

Singapore Exchange (SGX) is pleased to introduce new listing rules to promote greater transparency in general meetings and support listed companies and trusts in enhancing their shareholder engagement. These new rules include (i) holding of general meetings in Singapore, (ii) voting by poll for all resolutions, and (iii) disclosures of relevant details on voting outcomes. Respondents from our earlier public consultation expressed strong support for the initiatives. The proposed rules were refined to take into consideration the constructive feedback received from the public as well as in consultation with the Monetary Authority of Singapore. The new rules apply to both Mainboard and Catalist companies and trusts.

http://infopub.sgx.com/FileOpen/20130731...eID=250030

[pianist]

What does voting by poll means?

[freedom]

How about those dual listed?

Do they have to hold their meeting here?

[CityFarmer]

What does voting by poll means?

There are two ways of voting in general meetings, one by show of hands, and the other one by poll.

voting by poll means one vote per share is counted, as opposed to voting on a show of hands where each shareholder has one vote and it is possible for a group of shareholders owning in aggregate a very small proportion of a company‘s outstanding capital to influence the outcome.

I noticed that there is a company providing electronic voting system, which make the voting by poll, as easy as voting by show of hands.

[cfa]

More advantage to major shareholders.

[CityFarmer]

How about those dual listed?

Do they have to hold their meeting here?

All SGX primary listed companies and trusts will be required to hold their general meetings in Singapore. It should includes dual primary listed companies.

[pianist]

What does voting by poll means?

There are two ways of voting in general meetings, one by show of hands, and the other one by poll.

voting by poll means one vote per share is counted, as opposed to voting on a show of hands where each shareholder has one vote and it is possible for a group of shareholders owning in aggregate a very small proportion of a company‘s outstanding capital to influence the outcome.

I noticed that there is a company providing electronic voting system, which make the voting by poll, as easy as voting by show of hands.

thanks for the explanation. may I check that voting by show of hands actually require shareholders to turn up at the AGM rite? while voting by poll, if I am not free cannot attend in person, I can ask the chairman of the AGM to vote for my by using the proxy form and this constitute 'voting by poll'?

[egghead]

Base on my observation, proxy form works for both voting by show of hands and by poll.

[CityFarmer]

What does voting by poll means?

There are two ways of voting in general meetings, one by show of hands, and the other one by poll.

voting by poll means one vote per share is counted, as opposed to voting on a show of hands where each shareholder has one vote and it is possible for a group of shareholders owning in aggregate a very small proportion of a company‘s outstanding capital to influence the outcome.

I noticed that there is a company providing electronic voting system, which make the voting by poll, as easy as voting by show of hands.

thanks for the explanation. may I check that voting by show of hands actually require shareholders to turn up at the AGM rite? while voting by poll, if I am not free cannot attend in person, I can ask the chairman of the AGM to vote for my by using the proxy form and this constitute 'voting by poll'?

Yes, voting by poll enabling oversea shareholders and/or those not able to attend general meeting to vote by proxy.

[pianist]

Base on my observation, proxy form works for both voting by show of hands and by poll.

u r rite thanks