Addvalue Technologies AGM 2025: Shareholders Approve Most Resolutions, Reject Performance Share Plan Amid AI Push

Key Highlights from Addvalue Technologies’ 2025 AGM

• Most ordinary resolutions approved, including re-election of director and share buy-back mandate
• Performance Share Plan resolution rejected by shareholders
• Company highlights focus on next-generation products, AI adoption, and strong recurring revenue base
• Tariff risks from US trade policies deemed minimal at present
• Technology Day event showcases innovation and capabilities

Detailed Report for Retail Investors

Introduction and Meeting Overview

Addvalue Technologies Ltd held its Annual General Meeting (AGM) on 24 July 2025 at Bedok South Avenue, Singapore. The meeting was chaired by Mr. Richard J Denny, with directors, the CFO (who is also the Company Secretary), and auditors in attendance. Due to privacy regulations, the names of shareholders and proxies present were not disclosed.

Voting and Resolutions: What Was Approved and What Was Not?

The AGM agenda included seven ordinary resolutions, all voted via electronic polling. Resolutions covered financial statements, director re-election, director fees, auditor re-appointment, share issuance authority, share buy-back mandate, and the Performance Share Plan.

• Audited Financial Statements & Directors’ Statement (Resolution 1): Overwhelmingly approved (99.81% in favour). Financial statements for the fiscal year ended 31 March 2025 were adopted.
• Re-election of Director – Mr Chua Chwee Koh (Resolution 2): Narrowly approved with 52.97% in favour. Notably, nearly half the votes were against, indicating some shareholder unease or dissent regarding board composition. Mr. Chua remains a non-independent director and a member of the Audit and Risk Committee.
• Director Fees (Resolution 3): Approved with 98.96% in favour. Total director fees for FY25 set at S\$210,000.
• Re-Appointment of Auditors (Resolution 4): Approved (98.96% in favour). Forvis Mazars LLP (formerly Mazars LLP) remains as the company’s auditor.
• Authority to Allot and Issue Shares (Resolution 5): Approved (97.78% in favour), granting directors authority to issue shares under Section 161 of the Companies Act.
• Renewal of Share Buy-Back Mandate (Resolution 6): Unanimously approved (100% in favour), allowing the company to repurchase its own shares — a move that can support share price and signal management’s confidence in value.
• Authority to Grant Awards and Issue Shares under Performance Share Plan (Resolution 7): Crucially, this was rejected by shareholders, with only 45.81% in favour and 54.19% against. This means the company cannot proceed with its proposed performance share plan for now, signaling shareholder concerns about dilution, incentive structures, or alignment of interests.

Potential Price-Sensitive and Noteworthy Developments

• Rejection of Performance Share Plan: This is a significant event. Failure to approve this resolution may impact the company’s ability to attract, retain, and incentivize key staff and management. It may also reflect broader shareholder dissatisfaction or concern over governance, which could be price-sensitive.
• Close Vote on Director Re-Election: The re-election of Mr. Chua Chwee Koh saw almost equal split in support and opposition. This could signal investor concerns about board independence or performance, and may prompt further scrutiny from the market.
• Commitment to Share Buy-Backs: The unanimous renewal of the share buy-back mandate suggests confidence in the company’s valuation and potential support for the share price in the secondary market.

Business and Strategic Updates: Growth, AI, and Recurring Revenue

• Next-Generation Product Development: The company is actively developing new products in Space Connectivity (SPC) and Advanced Digital Radio (ADR), aiming to differentiate from competitors and expand market share.
• AI Integration: Addvalue is embracing artificial intelligence in two main ways: internally to streamline operations, and externally through leveraging its Software Defined Radio (SDR) expertise for AI-centric industrial applications. The company is also building its data foundation to support future AI-driven initiatives, including use of Microsoft Copilot.
• Stable Satcom Revenue: Partnership with Inmarsat ensures stability in the satellite communication (Satcom) segment, with ongoing innovation to meet evolving customer needs.
• Recurring Airtime Revenue: The company currently has 23 IDRS (Inter-Satellite Data Relay System) terminals in orbit, with more awaiting launch. This recurring revenue is a strong foundation, reflected in SPC segment revenues. Associated costs are included under cost of sales and operating expenses.
• Tariff Exposure Limited: The company faces some concerns regarding potential US tariff policies, but as most customers are in countries with free trade agreements with Singapore, there has been no material impact to date.

Other Updates: Technology Day and Corporate Governance

The company hosted a Technology Day after the AGM to showcase its innovative technologies and highlight the industries it serves. There were no additional items of business raised by shareholders during the AGM.

Conclusion: What Should Investors Watch?

• The rejection of the Performance Share Plan stands out as a key development and could affect management retention, investor sentiment, and the company’s future incentive structure.
• The close vote on director re-election may prompt further questions about governance and board composition.
• Continued investment in AI and next-generation technologies signals management’s focus on future growth and innovation.
• Recurring revenue from satellite terminals and a stable Satcom business underpin the company’s financial stability.
• Share buy-back mandate could be supportive for the share price in the near term, reflecting management’s confidence.

Investors should monitor how the company addresses shareholder concerns regarding incentive plans and board composition, as well as how its AI and new product strategies translate into financial performance.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions. The author and publisher are not responsible for any losses arising from reliance on this information.

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