Megachem : Results Of The Annual General Meeting

MEGACHEM LIMITED Registration No.198803293M

RESULTS OF THE ANNUAL GENERAL MEETING

Pursuant to Rule 704(15) of the Listing Manual of the Singapore Exchange Securities Trading Limited Section B: Rules of Catalist (the "Catalist Rules"), the Board of Directors of Megachem Limited (the "Company") wishes to announce that at the Annual General Meeting ("AGM") of the Company held via electronic means on 18 April 2022, all the resolutions as set out in the Notice of Annual General Meeting dated 1 April 2022 put to vote at the AGM were duly passed.

(a)The results of the poll on each the resolutions put to vote at the AGM are set out below:-

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 (%)
Ordinary Business
(Resolution 1) To receive and adopt the Statement by Directors and Audited Financial Statements of the Company for the financial year ended 31 December 2021 together with the Auditor's Report thereon.	116,588,747	91,138,607	78.17 %	25,450,140	21.83 %
(Resolution 2) To declare a final tax exempt dividend of 1.2 cent per share for the financial year ended 31 December 2021.	116,588,747	116,573,690	99.99 %	15,057	0.01 %
(Resolution 3) To approve Directors' fees of S$202,000 for the financial year ending 31 December 2022.	116,588,747	116,573,690	99.99 %	15,057	0.01 %
(Resolution 4) To re-elect Mr Chew Choon Tee pursuant to Regulation 117 of the Company's Constitution.	69,513,231	44,063,091	63.39 %	25,450,140	36.61 %

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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 (%)
(Resolution 5) To re-elect Mr Chan Kam Loon pursuant to Regulation 117 of the Company's Constitution.	91,153,664	91,138,607	99.98 %	15,057	0.02 %
(Resolution 6) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders.	91,153,664	91,138,607	99.98 %	15,057	0.02 %
(Resolution 7) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates).	44,078,148	44,063,091	99.97 %	15,057	0.03 %
(Resolution 8) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders.	116,588,747	116,573,690	99.99 %	15,057	0.01 %
(Resolution 9) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates).	44,078,148	44,063,091	99.97 %	15,057	0.03 %

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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 (%)
(Resolution 10) To re-appoint Messrs RSM Chio Lim LLP as auditors of the Company and to authorise the Directors to fix their remuneration.	116,588,747	116,588,747	100.00 %	0	0.00 %
(Resolution 11) To authorise Directors to issue shares pursuant to Section 161 of the Companies Act 1967.	116,588,747	91,138,607	78.17 %	25,450,140	21.83 %
(Resolution 12) To approve the renewal of Interested Person Transactions Mandate.	74,112,077	74,097,020	99.98 %	15,057	0.02 %

(b)

Details of parties who are required to abstain from voting on any resolution(s)

Resolution no. and details	Name	No. of shares held
(Resolution 4) To re-elect Mr Chew Choon Tee pursuant to Regulation 117 of the Company's Constitution.	Chew Choon Tee	47,075,716 ¹
(Resolution 7) To approve Mr Chan Kam Loon's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates).	Chew Choon Tee	47,075,716 ¹
Tan Bock Chia	25,435,083 ²

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(Resolution 9) To approve Dr Tay Kin Bee's continued appointment as an Independent Director by shareholders (excluding the directors, the chief executive officer and their associates).	Chew Choon Tee	47,075,716 ¹
Tan Bock Chia	25,435,083 ²
(Resolution 12) To approve the renewal of Interested Person Transactions Mandate.	Chori Co., Ltd	39,976,670 ³

¹ 9,000,000 ordinary shares of Chew Choon Tee are held through nominees.

² 25,435,083 ordinary shares of Tan Bock Chia are held through nominees.

³ The 39,976,670 ordinary shares are held under the custodian account of Chori Co., Ltd. maintained with Citibank Nominees Singapore Pte. Ltd.

(c) Name of firm appointed as Scrutineer

Entrust Advisory Pte. Ltd. was appointed as Scrutineer for the AGM.

Statement Pursuant to Rule 704(7) of the Catalist Rules

Mr Chan Kam Loon, having been re-elected as a Director of the Company, continues to serve as an Independent Director, Chairman of the Audit Committee and as member of the Nominating Committee and Remuneration Committee. Mr Chan Kam Loon is considered independent for the purpose of Rule 704(7) of the Catalist Rules.

Dr Tay Kin Bee, having been re-elected as an Independent Director of the Company, continues to serve as an Independent Director, Chairman of the Remuneration Committee and as member of the Audit Committee. Dr Tay Kin Bee is considered independent for the purpose of Rule 704(7) of the Catalist Rules.

By order of the Board

Chew Choon Tee Managing Director

18 April 2022

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Tay Sim Yee (Tel: [phone]) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.