Singapore Press Holdings Limited (the "Company") wishes to clarify the following in relation to Item 8(ii) of the Notice of Annual General Meeting dated November 5, 2007 convening its Twenty-Third Annual General Meeting to be held on December 5, 2007 (the "AGM Notice"):
- Item 8(ii) of the AGM Notice sets out the ordinary resolution to empower the directors of the Company to offer and grant awards, and to allot and issue new ordinary shares, pursuant to the SPH Performance Share Plan, subject to the maximum limit as specified in that ordinary resolution.
- In relation to this maximum limit, the Company’s intention is that the number of:
- (a) new ordinary shares allotted and issued and to be allotted and issued; and
- (b) existing ordinary shares (including treasury shares) delivered or to be delivered, together, pursuant to the SPH Performance Share Plan and the Singapore Press Holdings Group (1999) Share Option Scheme, shall not exceed 10% of the total number of issued ordinary shares in the capital of the Company (excluding treasury shares) from time to time.
- In practice, the Company will apply this maximum limit when making awards under, and administering, the SPH Performance Share Plan.