Notice of Ordinary Yearly Meeting (Continued)
(2) Resolution 5 relates to the grant of a general mandate to the Directors to repurchase shares of the Company up to a maximum of 10% of the issued shares capital of the Company at the date of the resolution (the "Repurchase Mandate"). The authority conferred on the Directors by the Repurchase Mandate would continue in force until the earlier of the conclusion of the next Ordinary Yearly Meeting of the Company, the expiration of the period within which the next Ordinary Yearly Meeting is required by law to be held, or until revoked or varied by ordinary resolution of the Shareholders in general meeting prior to the next Ordinary Yearly Meeting. An explanatory statement providing details of the Repurchase Mandate accompanies this Annual Report.
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Notes:
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Resolution 6 is a special resolution making certain amendments to the Articles of Association of the Company as a result of the end of its franchised bus operation. Such amendments include the removal of the power of the Government to appoint directors, the reduction of the maximum number of directors and other changes.
A shareholder entitled to attend and vote at the above Meeting may appoint a proxy or proxies (not exceeding 2 in number) to attend and vote in his place and such proxy need not be a shareholder of the Company.
To be valid, forms of proxy must be deposited at the Registered Office of the Company not less than forty-eight hours before the time fixed for holding the Meeting or adjourned Meeting.
To qualify for the final dividend, all unregistered transfers should be lodged at the Registrars' Office no later than 4:00 p.m. on Tuesday, 1st December, 1998.
The Transfer Books and Register of Members of the Company will be closed from Wednesday, 2nd December, 1998 to Wednesday, 16th December, 1998, both days inclusive.
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