Straco Corporation Limited • Annual Report 2014
96
c)
any subsequent bonus issue, consolidation or subdivision of the Company’s shares, and
(ii)
such authority shall, unless revoked or varied by the Company at a general meeting, continue in force until the conclusion of the next Annual
General Meeting or the date by which the next Annual General Meeting of the Company is required by law to be held, whichever is the earlier.”
(Resolution 9)
(See Explanatory Note 1)
8.
The Proposed Renewal of Share Buy Back Mandate
“That:
(a)
for the purposes of Sections 76C and 76E of the Companies Act, Chapter 50 of Singapore (the “Companies Act”), the exercise by the
Directors of the Company of all the powers of the Company to purchase or otherwise acquire issued ordinary shares (“Shares”) in the capital
of the Company not exceeding in aggregate the Prescribed Limit (as defined hereinafter), at such price or prices as may be determined by the
Directors of the Company from time to time up to the Maximum Price (as defined hereinafter), whether by way of:
(i)
market purchases (each a “Market Purchase”) on the Singapore Exchange Securities Trading Limited (the “SGX-ST”); and/or
(ii)
off-market purchases (each an “Off-Market Purchase”) effected otherwise than on the SGX- ST in accordance with any equal access
schemes as may be determined or formulated by the Directors of the Company as they consider fit, which scheme shall satisfy all the
conditions prescribed by the Companies Act,
and otherwise in accordance with all other laws, regulations and rules of the SGX-ST as may for the time being be applicable and is hereby
authorised and approved generally and unconditionally (the “Share Buy Back Mandate”);
(b)
unless varied or revoked by the shareholders of the Company in general meeting, the authority conferred on the Directors of the Company
pursuant to the Share Buy Back Mandate may be exercised by the Directors at any time and from time to time during the period commencing
from the passing of this Resolution and expiring on the earlier of:
(i)
the date on which the next annual general meeting of the Company is held; or
(ii)
the date by which the next annual general meeting of the Company is required by law or the articles of association of the Company to
be held;
(c)
In this Resolution:
“Prescribed Limit” means that number of Shares representing 10% of the total number of issued Shares in the capital of the Company as at the
date of the passing of this Resolution (excluding any Shares which are held as treasury shares); and
NOTICE OF ANNUAL GENERAL MEETING
