IPC Corporation Ltd EGM: Shareholders Approve Major Disposal of Nest Hotel Japan Corporation Shares

Key Highlights from the Extraordinary General Meeting (EGM)

• Date and Venue: The EGM of IPC Corporation Ltd was held on 28 November 2025 at the Kensington Ballroom, Serangoon Garden Country Club, Singapore.
• Board Attendance: The meeting was attended by the entire Board of Directors, including Chairman and CEO Mr. Ngiam Mia Je Patrick, as well as other executive and independent directors.
• Quorum and Formalities: The meeting commenced at 2.00 p.m., with a quorum present. The Chairman introduced the Board, auditors, and representatives from Boardroom Corporate & Advisory Services Pte. Ltd. and Reliance 3P Advisory Pte. Ltd.

Important Developments and Price-Sensitive Announcements

• Proposed Disposal: The main agenda was the proposed sale of 800 Preferred Shares in the issued and outstanding share capital of Nest Hotel Japan Corporation.
• Shareholder Engagement: The Chairman responded to shareholder questions, specifically addressing the rationale for the proposed disposal.
• Voting Procedure: In compliance with SGX Listing Rules, the resolution was conducted by poll, with Reliance 3P Advisory Pte Ltd acting as Scrutineer and Boardroom Corporate & Advisory Services Pte. Ltd. as Polling Agent.

Poll Results and Approval

• Overwhelming Support: The poll results were overwhelmingly in favor of the proposed disposal:
  • Shares voted for: 41,849,322 (100.00%)
  • Shares voted against: 825 (0.00%)
  • Total shares voted: 41,850,147 (100.000%)
• Resolution Carried: The Chairman formally declared the Ordinary Resolution carried, with virtually unanimous shareholder support.

Implications for Shareholders and Share Value

• Strategic Move: The approved disposal of the 800 Preferred Shares in Nest Hotel Japan Corporation could have a material impact on IPC Corporation Ltd’s business strategy and financial position. Such corporate disposals are often viewed as price-sensitive, as they may unlock capital, streamline operations, or signal shifts in strategic direction.
• Potential Impact: Investors should note that the completion of this transaction may influence future earnings, balance sheet strength, and the company’s ability to pursue new opportunities or return value to shareholders.
• Transparency and Compliance: The company has committed to publishing the minutes of this meeting on both the SGX website and the company’s own website, ensuring continued transparency.

Conclusion

The EGM concluded with the approval of the proposed disposal, and no other business was transacted. The meeting was adjourned at 2.50 p.m., with thanks extended to all attendees by the Chairman.

Disclaimer: This article is based on the official minutes of IPC Corporation Ltd’s Extraordinary General Meeting held on 28 November 2025. The information provided is for informational purposes only and does not constitute investment advice. Investors are advised to exercise due diligence and consult their financial advisors before making investment decisions.

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