36
LHN Limited Annual Report
Report on
Corporate Governance
The AC reviews and approves the internal audit plan to ensure the adequacy of the scope of audit
.
The AC is
satisfied that the IA is adequately qualified (given
,
inter alia
,
its adherence to standards set by internationally
recognised professional bodies) and resourced
,
and has the appropriate standing in the Company to
discharge its duties effectively
.
(D) SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Principle 14 – Shareholder Rights
Principle 15 – Communication with Shareholders
Principle 16 – Conduct of Shareholder Meetings
The Company strives to disclose information on a timely basis to shareholders and ensure any disclosure
of price sensitive information is not made to a selective group
.
The information is communicated to our
shareholders via
:
– annual reports – the Board strives to include all relevant information about the Group
,
including future
developments and disclosures required by the Companies Act
,
Financial Reporting Standards and the
Catalist Rules
;
and
– SGXnet and press releases on major developments of the Group
.
SGXnet disclosures and press releases of the Group are also available on the Company
’
s website at
http
:
//www
.
lhngroup
.
com
.
sg/
.
The Company holds quarterly investor briefings on its results announcements
shortly after the results announcement are published via SGXnet
.
The Company also publishes the presentation slides used during the investor briefings on SGXnet and on
its website – http
:
//www
.
lhngroup
.
com
.
sg/
.
Once the annual report for FY2015 is completed
,
a copy will be
made available on the Company
’
s website and published via SGXnet
.
At the forthcoming AGM
,
shareholders will be given the opportunity to air their views and ask Directors or
Management questions regarding the Company and the Group
.
The notice of AGM will be sent together with
the annual report
,
released on SGXnet and on the Company
’
s website as well as published in the newspapers
to inform shareholders of the upcoming meeting
.
The Board
,
Management and the external auditors will also be present to address any relevant queries the
shareholders may have
.
At the forthcoming AGM
,
the Company will prepare the minutes of the AGM which
would include substantial or relevant comments from shareholders and the minutes of the AGM will be
made available to shareholders
,
upon their request
.
The Company
’
s Articles of Association do not allow for abstentia voting at general meetings of shareholders
as authentication of shareholder identity information and other related security issues remains a concern
.
However
,
the Articles of Association of the Company does allow a shareholder to vote either in person or
appoint not more than two proxies to attend and vote in his stead
.
Such proxy to be appointed need not be
a shareholder
.
A member of a company having a share capital who is a relevant intermediary (as defined
in the Companies (Amendment) Act 2014) may appoint more than two proxies in relation to a meeting to
exercise all or any of his rights to attend and to speak and vote at the AGM
.
At the forthcoming AGM
,
all resolutions will be put to vote by way of a poll
,
and their detailed results will
be announced via SGXnet after the conclusion of the AGM
.
Although the Company does not have a fixed dividend policy
,
as disclosed on page 63 of the Offer Document
and subject to the factors described therein
,
the Directors intend to recommend not less than 20
.
0% of the
Group
’
s net profits after tax attributable to shareholders for each of FY2015 and FY2016
.
As such
,
the Board
has proposed a first and final dividend of S$0
.
003 per ordinary share for FY2015 which will be subject to
shareholders
’
approval at the forthcoming AGM
.
