Attendance at general meetings (Provision 11.3) Management makes its presentation to Unitholders to update them on ECW’s performance, position and prospect at general meetings. The presentation materials are made available to Unitholders on SGXNet and the Company’s website. Unitholders are given the opportunity to communicate their views on matters affecting ECW. Representatives of the trustee, Directors (including the chairpersons of the Board, the NRC and the ARC), the Manager’s senior management and the external auditors, shall be present at general meetings. Absentia voting (Provision 11.4) The Trust Deed currently does not provide for absentia voting. Voting in absentia and by email which are currently not permitted may only be possible following careful study to ensure that the integrity of information and authentication of the identity of Unitholders through the web are not compromised, and legislative changes are effected to recognise remote voting. Despite the deviation from Provision 11.4 of the Code, Unitholders nevertheless have opportunities to communicate their view on matters affecting the ECW Group even when they are not in attendance at general meetings. For example, in an ordinary meeting setting (i.e physical meetings), Unitholders may appoint proxies to attend, speak and vote, on their behalf, at general meetings. Conduct of General Meetings The Company held its AGM for the financial year ended 31 December 2023 (“2023 AGM”) on 29 July 2024 in a wholly physical format. Unitholders (themselves or through their appointed proxies) were able to vote and ask questions in person at the said AGM. EGM on the Proposed Change of Auditors of EC World REIT was held on 20 December 2024 in a wholly physical format. Unitholders (themselves or through their appointed proxies) were able to vote and ask questions in person at the said EGM. All the Directors were present at the EGM. Prior to voting at an AGM or any other general meetings, the voting procedures will be made known to the Unitholders to facilitate them in exercising their votes. An independent scrutineer is also appointed for the purpose of vote-taking and validation of votes at general meetings. The CEO will also give his presentation to keep unitholders better informed of the purpose of the general meetings. The presentation slides will also be released to SGX-ST. For the forthcoming AGM for the financial year ended 31 December 2024 (“2025 AGM”), this will also be held in a wholly physical format. Please refer to the Notice of AGM for further information. Minutes of general meetings (Provision 11.5) The minutes of general meetings which include the attendance of Board members at the meetings, matters approved by unitholders, voting results, substantial and relevant comments or queries from unitholders relating to the agenda of the general meetings together with responses from Board and Management, will be released to the SGX-ST and published on the Manager’s corporate website within one month from the date of the general meeting. Distribution policy (Provision 11.6) In accordance with the prospectus for IPO of ECW, ECW’s distribution policy is to distribute 100% of ECW’s Distributable Income for the period from the listing Date to 31 December 2017. Thereafter, ECW will distribute at least 90% of its Distributable Income on a semi-annual basis. Notwithstanding, ECW had been making its distribution on a quarterly basis until the financial year ended 31 December 2022. ECW’s distribution was set on a half-year basis with effect from 1 January 2023. The planned distributions for all periods after 1 January 2023 had been deferred to a later date to be announced due to insufficient funds. For FY2024, the Manager had announced a calculated distribution of 1.951 Singapore cents per unit (2023: 3.659 Singapore cent per unit). EC WORLD REIT 58 CORPORATE GOVERNANCE
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