Wilton Resources Corporation Limited: Key Highlights from the 2025 Annual General Meeting

Wilton Resources Corporation Limited conducted its Annual General Meeting (AGM) on 31 October 2025 at Serangoon Gardens Country Club, Singapore. The meeting was chaired by Mr. Wijaya Lawrence, Executive Chairman and President, with other directors and the external auditors present. Below are the critical details and developments from the AGM that investors and shareholders should take note of.

1. Adoption of FY2024 Financial Statements

• The AGM approved the Directors’ Statement and Audited Financial Statements for the year ended 31 December 2024. This signifies the company’s financials were accepted by the shareholders, giving confidence in management’s reporting and oversight.
• The approval was decisive, with 99.98% of votes in favor and only 0.02% against, demonstrating strong shareholder support for the company’s financial management.

2. Directors’ Fees for FY2025

• Shareholders approved directors’ fees of S\$182,500 for the financial year ending 31 December 2025, to be paid quarterly in arrears.
• This resolution passed with 99.55% approval, indicating stability in board remuneration and no contentious changes in compensation policy.

3. Board Changes and Re-elections

• Mr. Ngiam Mia Je Patrick retired as a Non-Executive Director. The Board expressed gratitude for his contributions, which could signal changes in board dynamics and future governance.
• Re-elections for directors:
• Mr. Wijaya Lawrence re-elected as Executive Chairman and President (99.18% approval).
• Mr. Lau Chin Huat re-elected as Lead Independent Non-Executive Director, Chairman of the Nominating Committee, Audit and Remuneration Committee member (99.55% approval).
• Mr. Yeo Boon Keong re-elected as Independent Non-Executive Director, Chairman of Audit Committee, and member of Nominating and Remuneration Committees (99.55% approval).
• Mr. Jimmy Rusli re-elected as Independent Non-Executive Director, Chairman of Remuneration Committee, and member of Audit and Nominating Committees (99.55% approval).
• All re-elections demonstrate continuity in board leadership and oversight, which may reassure investors.

4. Re-appointment of Auditors

• PKF-CAP LLP was unanimously re-appointed as independent auditors for the coming year, reinforcing confidence in the integrity of the audit process and financial transparency.

5. Authority to Issue and Allot Shares

• Shareholders granted the Directors authority to issue and allot shares and convertible instruments up to 100% of the company’s issued share capital, with a cap of 50% for non-pro-rata issues.
• This resolution provides the company with flexibility to raise capital if needed, which could impact share price depending on future fundraising activities or corporate actions.

6. Operational Updates and Strategic Concerns

• Electrical Infrastructure & Mining Operations: Management updated shareholders regarding the restoration of electrical supply to the processing facility, following engagement with PT Perusahaan Listrik Negara (Persero). Maintenance works are ongoing to ensure stable electricity and safety at the plant and mining site.
• Approximately 100 employees are currently stationed at the mining site, suggesting operational readiness for recommencement of mining activities.
• Operational Timeline & Share Price Concerns: Shareholders raised concerns about the timeline for resumption of full operations and underperformance of the company’s shares despite robust international gold prices. Management cited ongoing maintenance, unresolved liabilities (such as with Karl Hoffmann Mineral Pte. Ltd.), and ongoing strategic reviews as reasons for delays.
• Management committed to timely updates via SGXNet as developments arise, which could materially affect share price if positive progress is made in operational restart or resolution of liabilities.

7. Poll Results and Shareholder Sentiment

• All resolutions passed with overwhelming support, reflecting high shareholder confidence in current management and strategic direction.
• No other ordinary business was raised, and the AGM concluded smoothly.

Potential Price-Sensitive Information

• The restoration of electricity and ongoing maintenance at the processing facility and mining site hint at a potential resumption of operations, which could be a catalyst for future share price appreciation, especially if coupled with positive updates on strategic options or resolution of liabilities.
• The authority given to Directors to issue new shares provides flexibility for future capital raising, M&A activities, or other corporate actions that may impact shareholder value.
• Ongoing liability with Karl Hoffmann Mineral Pte. Ltd. remains a risk factor which, if resolved positively or negatively, could materially affect the company’s financial position and share price.

Conclusion

The 2025 AGM of Wilton Resources Corporation Limited highlighted a stable governance framework, operational progress, and potential strategic moves. Investors should closely monitor upcoming SGXNet announcements for developments related to the resumption of operations and liability resolution, as these could be significant drivers for the company’s share price. The authority to issue new shares also introduces the possibility of future corporate actions.

Disclaimer: This article is based on publicly available AGM minutes and does not constitute investment advice. Investors are advised to conduct their own due diligence and consult professional advisors before making investment decisions. The information provided may be subject to change as further announcements are made by the company.

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