Grand Banks Yachts Limited held its annual general meeting on Oct, 24 2025 at York Hotel Singapore.
Shareholders adopted the directors’ statement and audited financial statements for the year ended Jun, 30 2025 and approved a final one-tier tax-exempt dividend of 1.0 Singapore cent per ordinary share, scheduled for payment on Nov, 18 2025.
KPMG LLP was re-appointed as auditor, and the board was authorised to fix its remuneration.
Investors approved directors’ fees of up to 0.445 million Singapore dollars for the financial year ending Jun, 30 2026, to be paid quarterly in arrears.
Non-independent chairman Basil Chan and directors Philip William Forrest, Jeffrey Edward Fisher and Brian Marshall Storms were each re-appointed to the board. Forrest remains lead independent director, while Fisher continues as nominating committee chair and Storms as strategic committee chair.
Shareholders also renewed the authority for directors to issue new shares under Section 161 of the Companies Act 1967 and Rule 806 of the SGX Listing Manual.
All nine ordinary resolutions were passed by electronic poll, with support levels ranging from 99.88% to 100% of votes cast.
