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GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
CORPORATE GOVERNANCE REPORT
Shareholders of the Company receive the Annual
Reports and notices of Annual General Meetings (AGMs)
which are also advertised in the newspapers at least
14 days prior to the AGMs. The Board encourages
shareholders’ participation at the AGMs and periodically
communicates with shareholders through the course of
the financial year.
Similarly, shareholders of the Company receive the
circulars and notices of Extraordinary General Meetings
(EGMs) which are also advertised in the newspapers at
least 14 days prior to the EGMs.
15.2 Companies should disclose information on a timely basis
through SGXNET and other information channels, including
a well-maintained and updated corporate website. Where
there is inadvertent disclosure made to a select group,
companies should make the same disclosure publicly to all
others as promptly as possible.
All material information on the performance and
development of the Group and of the Company is
disclosed in a timely, fair and transparent manner.
The Company does not practice selective disclosure of
material information.
The Group makes all necessary disclosures to the public
via SGXNET. The Group also maintains a comprehensive
website accessible to the public which describes the
Group’s products and independent dealers, among
other items, and includes an investor relations tab to
assist shareholders.
15.3 The Board should establish and maintain regular dialogue
with shareholders, to gather views or inputs, and address
shareholders’ concerns.
Both Executive and Non-Executive Board members
meet or speak with key shareholders regularly to gather
their views and address concerns.
15.4 The Board should state in the company’s Annual Report
the steps it has taken to solicit and understand the views
of the shareholders e.g. through analyst briefings, investor
road shows or Investors’ Day briefing.
Refer to the Group’s Practices for Guideline 15.3.
15.5 Companies are encouraged to have a policy on payment
of dividends and should communicate it to shareholders.
Where dividends are not paid, companies should disclose
their reasons.
The Company has not paid dividends in recent years
because of its performance. The Company intends
to commence paying dividends when its financial
performance improves and circumstances warrant such
a decision.
