notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
notes to the financial statements - Investor Relations
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CWT Limited<br />
42<br />
CORPORATE GOVERNANCE<br />
SHAREHOLDER RIGHTS AND RESPONSIBILITIES<br />
Shareholders’ Rights (Principle 14)<br />
CWT fully supports and encourages shareholder participation at AGMs. All shareholders of <strong>the</strong> Company receive <strong>the</strong> annual report<br />
and notice of AGM in advance of <strong>the</strong> AGMs. The notice is also advertised in newspapers and made available on <strong>the</strong> Company’s<br />
website.<br />
CWT ensures that shareholders have <strong>the</strong> opportunity <strong>to</strong> participate effectively in and vote at AGMs. Shareholders are informed of <strong>the</strong><br />
rules that govern general meetings of shareholders.<br />
While CWT does not have a specific limit in <strong>the</strong> Articles on <strong>the</strong> number of proxy votes for nominee companies, <strong>the</strong>re is a limit for <strong>the</strong><br />
number of proxies. This is because CWT does not want <strong>to</strong> create separate classes of rights in shareholders. Also, under current law,<br />
on a show of hands, only one vote is counted.<br />
Communication with Shareholders (Principle 15)<br />
CWT is committed <strong>to</strong> maintaining high standards of disclosure and corporate transparency. The Company strives <strong>to</strong> convey <strong>to</strong><br />
shareholders pertinent information in a clear, forthcoming, detailed, timely manner and on a regular basis, and take in<strong>to</strong> consideration<br />
<strong>the</strong>ir views and inputs, and address shareholders’ concerns.<br />
The Company also moni<strong>to</strong>rs <strong>the</strong> dissemination of material information <strong>to</strong> ensure that it is made publicly available on a timely and<br />
non-selective basis.<br />
All <strong>financial</strong> results are made available <strong>to</strong> <strong>the</strong> public and all shareholders by publishing it through <strong>the</strong> SGXNET, and <strong>the</strong> Company’s<br />
website www.cwtlimited.com. All information on <strong>the</strong> Company’s new initiatives is first disseminated via SGXNET followed by a news<br />
release, which is also available on <strong>the</strong> website.<br />
The inves<strong>to</strong>r relations section of <strong>the</strong> Company’s website contains extensive inves<strong>to</strong>r-related information on CWT which serves as a<br />
one-s<strong>to</strong>p resource platform for shareholders and inves<strong>to</strong>rs <strong>to</strong> gain access <strong>to</strong> company, <strong>financial</strong> and s<strong>to</strong>ck data, assisting <strong>the</strong>m in<br />
<strong>the</strong>ir investment decisions.<br />
The Company does not practise selective disclosure. Results and annual reports are announced or issued within <strong>the</strong> manda<strong>to</strong>ry<br />
period and are available on <strong>the</strong> Company’s website.<br />
Conduct of Shareholder Meetings (Principle 16)<br />
At AGMs, shareholders are given <strong>the</strong> opportunity <strong>to</strong> air <strong>the</strong>ir views and ask Direc<strong>to</strong>rs or Management questions regarding <strong>the</strong><br />
Company. The Articles also allow a shareholder of <strong>the</strong> Company <strong>to</strong> appoint one proxy <strong>to</strong> attend and vote in place of <strong>the</strong> shareholder.<br />
The Articles presently do not provide for shareholders <strong>to</strong> vote at AGMs in absentia such as by mail, email or fax <strong>to</strong> ensure proper<br />
au<strong>the</strong>ntication of <strong>the</strong> identity of shareholders and <strong>the</strong>ir voting intent. The Company will consider implementing <strong>the</strong> relevant amendment<br />
<strong>to</strong> <strong>the</strong> Articles if <strong>the</strong> Board is of <strong>the</strong> view that <strong>the</strong>re is a demand for <strong>the</strong> same, and after <strong>the</strong> Company has evaluated and put in place<br />
<strong>the</strong> necessary security and o<strong>the</strong>r measures <strong>to</strong> facilitate absentia voting and protect against errors, fraud and o<strong>the</strong>r irregularities.