Investors can vote on SIA fund raising at virtual EGM

Singapore Airlines (SIA) investors can vote on the $15 billion capital raising on April 30 but by electronic means.

SIA announced the massive cash call, backed by Temasek, last month to tide it over the coronavirus pandemic.

Shareholders cannot attend the extraordinary general meeting (EGM) but can access a live webcast or audio feed.

Investors who want to tune in must pre-register by 11.30am tomorrow at singaporeair.com/ home/shareholder-registration

No questions can be asked during the live feed. They must be lodged beforehand - by 11.30am on April 27 - and only by investors who have registered.

Questions can be submitted online, in hard copy sent by post or by e-mail to gpe@mncsingapore.com.

Investors cannot vote online. Instead, a proxy form must be lodged by 11.30am on April 27 to appoint the meeting chairman to vote on their behalf.

The cash call comprises a three-for-two issue of up to 1.78 billion shares to raise $5.3 billion and an offering of up to $3.5 billion worth of 10-year mandatory convertible bonds (MCBs). It also includes an additional MCB issue of up to $6.2 billion that may be offered at a later date.

These issues will be tabled for approval at the EGM, which will be run by SIA chairman Peter Seah and chief executive Goh Choon Phong.

SIA shares closed 1.3 per cent down at $6.17 yesterday.

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on April 16, 2020, with the headline 'Investors can vote on SIA fund raising at virtual EGM'. Print Edition | Subscribe