2019 AGM
July 2nd, 2019
⏰ 1 minute readings
⏰ 1 minute readings
AGM
It’s amazing how time flies. Last Wednesday, almost a week ago we held our 2019 Annual General Meeting for Shareholders. The event took place in Sampoerna Strategic as it has done for the last three years. We were scheduled to start at 10am, but as we waited for guests to arrive the question was...would we be able to?
Felda
Unfortunately Felda one of our two largest shareholders from Malaysia were not able to send a representative to the meeting. As they own 37% of the shares, that meant there was only a potential 63% of shareholders who could attend & make up a quorum which is 50% + 1 shareholder. Would we make it?
Quorum
Rajawali our other major shareholder have 37% too which left us needing 13% or half of the 25% minority shareholders. That’s over 9,000 investors & often minority shareholders don’t attend AGMs... We contacted as many people as possible & in the end an amazing 15% (60%) of the minorities attended & we reached a quorum of 52.2%!
Agenda
Apart from the regular agenda, we also had several board changes. Contrary to reports in the press, these were mostly rearrangements not resignations. We said goodbye to our Felda commissioner, our Pres Comm becomes commissioner, our Pres Dir becomes Pres Comm & we have a new director & Pres Director both from our operations team.
New PD
The make up of our board has now gone back to mostly operational with 4 of the 6 directors directly running operations from 2 before. Our current head of operation is now director while our new President Director is new to EHP. He’s a PhD in Soil Science & we will welcome him to the office next week.
You can find the new director CVs here
It’s amazing how time flies. Last Wednesday, almost a week ago we held our 2019 Annual General Meeting for Shareholders. The event took place in Sampoerna Strategic as it has done for the last three years. We were scheduled to start at 10am, but as we waited for guests to arrive the question was...would we be able to?
Felda
Unfortunately Felda one of our two largest shareholders from Malaysia were not able to send a representative to the meeting. As they own 37% of the shares, that meant there was only a potential 63% of shareholders who could attend & make up a quorum which is 50% + 1 shareholder. Would we make it?
Quorum
Rajawali our other major shareholder have 37% too which left us needing 13% or half of the 25% minority shareholders. That’s over 9,000 investors & often minority shareholders don’t attend AGMs... We contacted as many people as possible & in the end an amazing 15% (60%) of the minorities attended & we reached a quorum of 52.2%!
Agenda
Apart from the regular agenda, we also had several board changes. Contrary to reports in the press, these were mostly rearrangements not resignations. We said goodbye to our Felda commissioner, our Pres Comm becomes commissioner, our Pres Dir becomes Pres Comm & we have a new director & Pres Director both from our operations team.
New PD
The make up of our board has now gone back to mostly operational with 4 of the 6 directors directly running operations from 2 before. Our current head of operation is now director while our new President Director is new to EHP. He’s a PhD in Soil Science & we will welcome him to the office next week.
You can find the new director CVs here