[SYGROUP] EGM on 30-Aug-2024

Stock
[SYGROUP]: SHIN YANG GROUP BERHAD
Announcement Date
14-Aug-2024
Reference No.
GMA-14082024-00002
Corporate Action ID
MY240814MEET0002
Type
EGM
Date & Time
30-Aug-2024 10:00
Depositor Date
21-Aug-2024
Venue
Conference Room, Level 5 Imperial Hotel, Jalan Pos 98000 Miri, Sarawak
Description
SHIN YANG GROUP BERHAD ("SYGROUP") - NOTICE OF EXTRAORDINARY GENERAL MEETING
SYGROUP- Notice of EGM.pdf
Outcome

The Board of Directors of Shin Yang Group Berhad ("SYGROUP"or the "Company") wishes to announce that all the Ordinary Resolutions as set out in the Notice of Extraordinary General Meeting dated 14 August 2024 were duly passed by the shareholders of the Company at the Extraordinary General Meeting of the Company held today.

All the Ordinary Resolutions were voted by poll electronically and the result of the poll were validated by David Siaw & Co Advocates, the independent scrutineer appointed by the Company.

Please refer to the attachment for the poll results.

This announcement is dated 30 August 2024

Voting Results

1. ORDINARY RESOLUTION 1

Description 
PROPOSED ACQUISITION BY SYGROUP OF:
(i) 100% EQUITY INTEREST IN BOULEVARD JAYA SDN BHD (BOULEVARD JAYA)
FROM SHIN YANG HOLDING SENDIRIAN BERHAD, KTE MOTORS SDN BHD AND
LING CHIONG SING; AND
(ii) 60% EQUITY INTEREST IN EACH OF BOULEVARD MOTOR SDN BHD (BOULEVARD
MOTOR), BOULEVARD MOTOR (SABAH) SDN BHD (BOULEVARD MOTOR
(SABAH)) AND BOULEVARD MOTOR (LABUAN) SDN BHD (BOULEVARD MOTOR
(LABUAN)) FROM DWI BUMIJAYA SDN BHD,
FOR A PURCHASE CONSIDERATION OF RM 144,500,000.00 TO BE SATISFIED VIA
A COMBINATION OF CASH AND TREASURY SHARES HELD BY THE COMPANY
(PROPOSED ACQUISITION).
(BOULEVARD MOTOR, BOULEVARD MOTOR (SABAH) AND BOULEVARD MOTOR
(LABUAN) ARE COLLECTIVELY REFERRED TO AS BOULEVARD MOTOR GROUP)
(SHIN YANG HOLDING SENDIRIAN BERHAD, KTE MOTORS SDN BHD, LING CHIONG
SING AND DWI BUMIJAYA SDN BHD ARE COLLECTIVELY REFERRED TO AS VENDORS)
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 50 0
No. of Shares 155,012,700 0
% of Voted Shares 100.0000 0.0000
Result Accepted

2. ORDINARY RESOLUTION 2

Description 
PROPOSED DIVERSIFICATION OF THE EXISTING BUSINESS OF SYGROUP TO INCLUDE AUTOMOTIVE DEALERSHIP BUSINESS PURSUANT TO THE PROPOSED ACQUISITION
(PROPOSED DIVERSIFICATION)
Shareholder’s Action For Voting
Voted For Against
No. of Shareholders 50 0
No. of Shares 155,012,700 0
% of Voted Shares 100.0000 0.0000
Result Accepted

Remark
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