Union Gas Holdings Limited told shareholders that every one of the 11 resolutions tabled at its annual general meeting on Apr, 29 2026 was approved by poll with at least 99.74% support.
The meeting, chaired by Executive Director and Chief Executive Officer Teo Hark Piang at Chui Huay Lim Club in Singapore, adopted the group’s Statement by Directors and audited financial statements for the financial year ended Dec, 31 2025.
Shareholders sanctioned a final tax-exempt (one-tier) dividend of 1.00 Singapore cent per ordinary share; the record and payment dates will be announced later via SGXNet.
Independent Director Yee Chia Hsing was re-elected, while Heng Chye Kiou retired from the board. Investors also backed the appointment of Benjamin Choo Chih Chien as an independent director and new chair of the Nominating Committee.
Annual directors’ fees of 0.864 million Singapore dollars for FY2026, payable half-yearly in arrears, received unanimous approval. RSM SG Assurance LLP was re-appointed as external auditor.
The meeting authorised directors to issue new shares of up to 50% of the company’s issued share capital (with a 20% limit for non-pro-rata issues) and approved share issuance mandates for the Union Gas scrip dividend scheme, employee share option scheme and performance share plan, each capped at 15% of issued shares.
Shareholders also renewed the share buy-back mandate, allowing the company to repurchase up to 10% of its issued shares, with a ceiling price of 105% of the five-day average closing price for on-market purchases and 120% for off-market purchases.
During the Q&A session, management said the group has “over 50 years’ experience” in navigating oil-price volatility and is using hedging strategies and a diversified service-station business to mitigate risks from ongoing Middle East tensions. A S$5.347 million unrealised loss from derivatives in FY2025 was described by the CFO as a non-cash fair-value adjustment that could reverse if market prices move favourably.
The meeting concluded at 10:12 a.m.