On 20 February 2020, VSTECS had announced its financial results for the fourth financial quarter ended 31 December 2019 that it will be proposing a single-tier final dividend of 3.0 sen per ordinary share in respect of the financial year ended 31 December 2019 (“Final Dividend”), subject to shareholders’ approval at the forthcoming Twenty-Fourth Annual General Meeting (“24th AGM”) of the Company.

In light of the outbreak of Coronavirus Disease (“Covid-19”) pandemic and the Movement Control Order imposed by the Malaysian government, and the subsequent directive to refrain from holding of gathering in large numbers, VSTECS's 24th AGM date has been re-scheduled to a later date in June 2020, as the Company’s foremost priority is to ensure the safety of all its shareholders, employees and other stakeholders during the Covid-19 pandemic.

Arising therefrom, to facilitate the timely payment of the dividend to the shareholders, the Board has resolved to re-classify the proposed Final Dividend to Second Interim Dividend (“Re-classification of Dividend”) which would provide certainty as to the payment date and need not require prior approval of shareholders at an AGM. The Company is of the view that the Re-classification of Dividend will not be prejudicial to the interest of the Company’s shareholders as the quantum of dividend remains unchanged at 3.0 sen per ordinary share. 

The Second Interim Dividend will be paid on 17 June 2020 (“Payment Date”) to shareholders whose names appear in the Record of Depositors at the close of business on 28 May 2020 (“Entitlement Date”). The Payment Date and Entitlement Date remain unchanged as per the announcement made on 20 February 2020.

Please refer to the Company’s amended announcement on “‘Entitlements (Notice of Book Closure)” made on 13 May 2020 relating thereto for further details.

This announcement is dated 13 May 2020.