25 June 2020
Global Invacom Group Limited
("Global Invacom", the "Company" or the "Group")
Results of Annual General Meeting
Global Invacom (SGX: QS9) (AIM: GINV), the global provider of satellite communications equipment and electronics, announces that at the Annual General Meeting ("AGM") of the Company held by electronic means today, all resolutions set out in the Notice of AGM dated 3 June 2020 were duly passed by way of a poll.
a) The results of the poll on each of the resolutions at the AGM are set out below for information:
| Resolution number and details | Total number of shares represented by votes for and against the relevant resolution | For | Against | ||
| Number of shares |
As a percentage of total number of votes for and against the resolution (%) | Number of shares |
As a percentage of total number of votes for and against the resolution (%) | ||
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Ordinary Resolution 1 Directors' Statement and Audited Financial Statements for the year ended 31 December 2019 | 118,775,841 | 118,775,841 | 100 | 0 | 0 |
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Ordinary Resolution 2 Re-election of Mr John Lim Yew Kong as a Director | 118,760,841 | 109,870,141 | 92.51 | 8,890,700 | 7.49 |
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Ordinary Resolution 3 Re-election of Mr Matthew Jonathan Garner as a Director | 118,775,841 | 118,775,841 | 100 | 0 | 0 |
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Ordinary Resolution 4 Approval of payment of Directors' fees for the financial year ending 31 December 2020 amounting to S$346,500, payable quarterly in arrears | 118,595,841 | 96,416,437 | 81.30 | 22,179,404 | 18.70 |
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Ordinary Resolution 5 Re-appointment of Moore Stephens LLP as Auditors | 118,775,841 | 118,775,841 | 100 | 0 | 0 |
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Ordinary Resolution 6 Authority to allot and issue Shares | 118,775,841 | 109,885,141 | 92.51 | 8,890,700 | 7.49 |
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Ordinary Resolution 7 Authority to allot and issue Shares under the Global Invacom Share Option Scheme 2013 | 51,857,379 | 42,966,679 | 82.86 | 8,890,700 | 17.14 |
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Ordinary Resolution 8 Authority to offer and grant Shares under the Global Invacom Performance Share Plan 2013 | 51,857,379 | 42,966,679 | 82.86 | 8,890,700 | 17.14 |
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Ordinary Resolution 9 Renewal of Share Buyback Mandate | 118,775,841 | 118,775,841 | 100 | 0 | 0 |
b) The details of parties who abstained from voting on the resolution(s), including the number of shares held and the individual resolution on which they abstained from voting are set out below:
| Name of Shareholder | Number of shares | Resolution(s) Abstained | |
| Anthony Brian Taylor | 11,139,702 | 7,8 | |
| Malcolm John Burrell | 11,139,702 | 7,8 | |
| Basil Chan | 165,000 | 4,7,8 |
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| John Lim Yew Kong | 15,000 | 2,4,7,8 | |
| Shareholders of the Company who are eligible to participate in the Global Invacom Share Option Scheme 2013 | 22,279,654 | 7 | |
| Shareholders of the Company who are eligible to participate in the Global Invacom Performance Share Plan 2013 | 22,279,654 | 8 | |
c) Agile 8 Advisory Pte. Ltd. was appointed as scrutineer for the polls conducted at the AGM.
Following the conclusion of the AGM, Mr Basil Chan ("Mr Chan") has retired as an Independent Director of the Company. He also ceased to be Chairman of the Remuneration Committee and a member of Audit and Risk Committee and Nominating Committee respectively.
The announcement on his retirement pursuant to Rule 704(7)(a) of the Listing Manual of the SGX-ST has been released on 3 June 2020.
The Board would like to record its appreciation to Mr Chan for his invaluable contribution and guidance during his tenure as an Independent Director of the Company.
The Board shall appoint a suitable candidate to fill up the vacancy in the Board and Board Committees in due course and will make the necessary announcement(s) on the SGXNet as and when appropriate.
The full minutes of the AGM, including questions from shareholders, can be read on the Company's website:www.globalinvacom.com/investor-relations/sgx-news.
For further information, please contact:
| Global Invacom Group Limited | |
| Matthew Garner, Chief Financial Officer | Tel: +65 6431 0782 Tel: +44 203 053 3523 |
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| finnCap Ltd (Nominated Adviser and Joint Broker) | |
| Christopher Raggett / Matthew Radley (Corporate Finance) | Tel: +44 207 220 0500 |
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| Mirabaud Securities LLP (Joint Broker) | |
| Peter Krens (Equity Capital Markets) | Tel: +44 207 878 3362 |
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| Vigo Communications (Media & Investor Relations) | |
| Jeremy Garcia / Charlie Neish | Tel: +44 207 390 0238 |
| ginv@vigocomms.com
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About Global Invacom Group Limited
Global Invacom is a fully integrated satellite equipment provider with six manufacturing plants across China, Israel, Malaysia, UK and the US. Its customers include satellite broadcasters such as BSkyB of the UK and Dish Network of the USA and Data over Satellite providers including Hughes Network Systems, Viasat and Gilat Satellite Networks.
Global Invacom provides a full range of antennas, LNB receivers, transceivers, fibre distribution equipment, transmitters, switches and video distribution components and electronics manufacturing services in satellite communications as well as manufacturing services in military, medical, and consumer electronics industries. Following the acquisition in 2015 of Global Skyware, a leading US‐based designer and supplier of satellite antennas products and services, the Company became the world's only full‐service outdoor unit supplier.
Global Invacom is listed on the Mainboard of the Singapore Exchange Securities Trading Limited and its shares are admitted to trading on the AIM Market of the London Stock Exchange.
For more information, please refer to www.globalinvacom.com
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