As part of the Corporate Governance Framework, the following principles apply on Shareholder Rights and Responsibilities:
Principles 14, 15 and 16: Shareholder Rights, Communication with Shareholders, and Conduct of Shareholders Meetings
GIL is committed to maintaining high standards of disclosure and corporate transparency with members of the investment community and investing public. The Board has adopted policies and procedures that comply with the disclosure requirements under the SGX-ST Listing Rules, having regard to the recommendations of the Singapore Code. GIL has developed a Shareholder Communication Policy which is designed to ensure the delivery of timely, relevant and pertinent information to Shareholders. The Manager facilitates regular and effective communication in an open and non-discriminatory approach on changes to GIL as well as its performance or business developments which would be likely to materially affect the price or value of the Shares.
GIL discloses information on a timely basis through SGXNET and GIL’s website, including quarterly financial results within 45 days after the end of each quarter and the financial statements for the full financial year within 60 days after the end of each financial year. The corporate website provides Shareholders and the investment community with key information, including annual reports, quarterly results, presentations and announcements to SGX, information on shares and dividends and Shareholders’ meetings. The Investor Relations Team of the Manager responds to shareholder queries promptly and effectively and maintains a register of all queries and responses given by GIL.
GIL regularly holds a briefing session for both media and analysts together when announcing the full-year results. Key management personnel of the Manager will be present at the briefing. In FY2016, the briefing session that was held for both media and analysts was attended by the Chairman, the Manager Nominated Director and other key management personnel of the Manager.
Conduct of Shareholders Meetings
GIL supports active Shareholder participation at AGMs. At least 21 days before the AGM, notice of the meeting (including key rules that govern such meetings such as the rules regarding voting by proxy), meeting agenda and related information will be sent to Shareholders to provide Shareholders with sufficient time to review the aforementioned documents and indicate their attendance. GIL holds its AGM at a central location which is easily accessible by public transportation. GIL allows Shareholders who hold shares through nominees to attend the AGMs as observers without being constrained by the two-proxy rule, subject to availability of seats.
There will be distinct resolutions at general meetings on each substantially separate issue. Resolutions are not bundled unless they are interdependent and linked so as to form one significant proposal. All resolutions will be conducted by poll voting. Shareholders attending the general meeting would have the opportunity to ask questions on proposed resolutions and the voting procedure would be communicated to the Shareholders at the meeting. An announcement of the detailed results of voting from the AGM showing the number of votes cast for and against each resolution and the respective percentage will be published.
The Chairman, the Chairman of each of the Board committees and where possible, all the directors, will be present in person or by phone to address relevant queries from Shareholders. The external auditors are also invited to address relevant queries from Shareholders. The minutes of Shareholder general meetings, which include substantial and relevant comments or queries from Shareholders relating to the agenda of the meeting and responses from the Board and the Manager, are available on request.