Sakae Holdings to hold EGM through live webcast

SHAREHOLDERS of sushi restaurant operator Sakae Holdings can watch its extraordinary general meeting (EGM) through a live webcast on April 20, due to restrictions that limit crowd sizes and hence the spread of the Covid-19 virus.

The food and beverage (F&B) player on Friday said it will restrict in-person attendance at its EGM to two pre-selected shareholders, in order to ensure compliance with the minimum quorum requirement under its Constitution.

Those who wish to follow the proceedings on their mobile phones, tablets or computers will have to pre-register their interest through a link on their corporate website by 3pm on April 18, to allow the company to verify their status as a shareholder, said Sakae Holdings in a bourse filing.

Shareholders can refer to Sakae's website for updates on the EGM. 

Following the verification, authenticated shareholders will receive an e-mail by April 19 containing an access link, which they can click on to access the webcast of the EGM proceedings. 

Shareholders will not be able to vote through the live webcast, but those who wish to vote on the resolutions must submit proxy forms in advance and appoint the Chairman of the EGM  to cast votes on their behalf. All votes in the EGM will be taken on a poll, the company said.

"Shareholders are reminded not to congregate to watch the live webcast and to ensure that safe-distancing measures are practiced and the regulations and all government advisories are adhered to," said Sake Holdings.

Units of Sakae Holdings, which is under the Singapore Exchange's (SGX) watchlist, closed flat at 5 Singapore cents on Friday before the announcement was made.

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