Last Wednesday, I decided to attend HUPSteel Limited’s AGM. The main reason for attending the AGM was that I felt the new resolutions that the Board of Directors wanted to pass was unfair to minority shareholders. After the AGM and EGM, my opinion is that in terms of matters of Corporate Governance, the Board of Directors have much to improve on.

New Resolutions: 

1. Ordinary Resolution 1: Proposed Adoption of the HUPSteel Employee Share Option Scheme 2015.
2. Ordinary Resolution 2: Discount of up to 15% to the market price of a share under the HUPSteel ESOS 2015.
3. Ordinary Resolution 3: Proposed participation by Lim Boh Chuan, a controlling shareholder of the company, in the HUPSteel ESOS 2015.
4. Ordinary Resolution 4: Proposed participation by Lim Kim Thor, a controlling shareholder of the company, in the HUPSteel ESOS 2015.
5. Ordinary Resolution 5: Proposed participation by Lim Kim San, Joe, an associate of a controlling shareholder of ...