Annual Report 2019

FAR EAST CONSORTIUM INTERNATIONAL LIMITED 144 CORPORATE GOVERNANCE REPORT H. SHAREHOLDERS’ RIGHTS To safeguard the Shareholders’ interests and rights, separate resolutions are proposed at Shareholders’ meetings on each substantial issue, including the election of individual Directors, for Shareholders’ consideration and voting. Besides, the Shareholders may convene an extraordinary general meeting or put forward proposals at Shareholders’ meetings pursuant to the Articles as follows: (i) Shareholders holding at the date of deposit of the requisition not less than one-tenth of the paid-up capital of the Company carrying the right of voting at general meetings of the Company may request the Board to convene an extraordinary general meeting by sending a written requisition to the Board at the Company’s principal place of business in Hong Kong. The objects of the meeting must be stated in the written requisition. (ii) If a Shareholder wishes to propose a person other than a retiring Director for election as a Director at a general meeting, the Shareholder (other than the person to be proposed) duly qualified to attend and vote at the general meeting shall send a written notice, duly signed by the Shareholder, of his/her intention to propose such person for election and also a notice signed by the person to be proposed of his/her willingness to be elected. These notices should be lodged at the Company’s registered office or principal place of business in Hong Kong. The period for lodgement of such notices shall commence on the day after the despatch of the notice of such general meeting and end no later than 7 days prior to the date of such general meeting. For the avoidance of doubt, Shareholder(s) must deposit and send the original duly signed written requisition, notice or statement (as the case may be) to the Company’s principal place of business in Hong Kong and provide their full name, contact details and identification in order to give effect thereto. The Shareholders’ information may be disclosed as required by law. During the Year under review, the Company has not made any changes to its Articles. An up-to-date version of the Articles is available on the websites of the Company and the Stock Exchange. The Shareholders may refer to the Articles for further details of the rights of Shareholders. All resolutions put forward at Shareholders’ meetings will be voted by way of poll pursuant to the Listing Rules and the poll results will be posted on the websites of the Stock Exchange (www.hkexnews.hk ) and the Company (www.fecil.com.hk) after each Shareholders’ meeting. I. DIVIDEND POLICY The Company adopted a dividend policy with effect from November 2018 whereby the Board believes that a clear dividend policy is good for corporate governance and is committed to a dividend policy of providing consistent dividend streams to shareholders, with a dividend payout ratio of 30% to 40%, while maintaining a healthy balance sheet and retaining flexibility to meet the businesses financial needs.