The board of directors (the "Board") of mm2 Asia Ltd. (the "Company") wishes to announce that the Company will be seeking the approval of its shareholders (the "Shareholders") to replace the existing constitution (the "Existing Constitution") of the Company with a new constitution (the "New Constitution") (the "Proposed Adoption of New Constitution") at an extraordinary general meeting ("EGM") to be held on 31 July 2018.
The proposed New Constitution will incorporate, amongst others:-
(1) the amendments to the Companies Act (Chapter 50) of Singapore, introduced pursuant to the Companies (Amendment) Act 2014 of Singapore and the Companies (Amendment) Act 2017 of Singapore, which were passed in Parliament on 8 October 2014 and 10 March 2017 respectively, to improve corporate governance for companies in Singapore, reduce the regulatory burden on companies and provide for greater business flexibility;
(2) updated provisions which are consistent with the prevailing Listing Rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"); and
(3) provisions to address the personal data protection regime in Singapore.
The Company is also taking this opportunity to streamline and rationalise certain other provisions in the Existing Constitution, including, but not limited to, the provisions relating to the retirement by rotation of the directors. The Proposed Adoption of New Constitution is subject to Shareholders’ approval by way of a special resolution at the EGM.
A circular, containing, inter alia, further details on the Proposed Adoption of New Constitution (the "Circular") together with a notice of the EGM (the "Notice") in connection therewith, will be dispatched to Shareholders on 9 July 2018. An electronic copy of the Circular and Notice will be available on the website of the SGX-ST at www.sgx.com.
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