TIDMWTS
RNS Number : 7665Q
World Trade Systems PLC
08 June 2018
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE
ATTENTION
If you are in any doubt as to what action you should take, you
are recommended to seek your own financial advice from your
stockbroker or other independent adviser authorised under the
Financial Services and Markets Act 2000.
If you have recently sold or transferred all of your shares in
WORLD TRADE SYSTEMS PLC, please forward this document, together
with the accompanying documents, as soon as possible either to the
purchaser or transferee or to the person who arranged the sale or
transfer so they can pass these documents to the person who now
holds the shares.
This Letter, the Notice of Annual General Meeting and a Proxy
Form are being sent to all shareholders. Shareholders who wish to
view the Annual Report 2017 can do so electronically on the
Company's website at www.worldtradesystemsplc.com.
WORLD TRADE SYSTEMS PLC
Registered Number: 1698076
Registered Office:
First Floor Lexham House,
14 Hill Avenue,
Amersham,
HP6 5BW
CHAIRMAN'S LETTER
8th June 2018
Dear Shareholder
Annual General Meeting
I would like to invite you to the 2018 Annual General Meeting of
World Trade Systems PLC (the 'Company') to be held on Friday 29th
June 2018 at First Floor, Lexham House, 14 Hill Avenue, Amersham
HP6 5BW, commencing at 14.00 hours.
Business Overview
The annual report and accounts for the year ended 31 December
2017 are available on the Company's website. As you will read in
the 'business review' contained therein the Company has continued
it trading of high quality health food products via its
wholly-owned subsidiary, Shimao (Suzhou) Biotechnology Co. Ltd (WTS
China) whilst additionally focusing on the Group's business
development strategy with the aim of expanding operations
internationally within the health food and health service
market.
The board of directors have carefully reviewed these 2017 annual
results taking into consideration the previously published 2017
interim report. The board is fully aware of the fall in revenue and
profits from June 2017 to December 2017 and has identified the key
contributing factors as being reduced sales, lack of new product
launches and diverted attention as the Company focused considerable
resources on overseas business. The board continues to closely
monitor sales and revenue and now has in place focused strategic
plans to ensure a continued emphasis on international expansion
whilst not compromising the ongoing operations of WTS China.
At the Annual General Meeting, you will be asked to consider and
vote on the resolutions set out in the attached Notice. The
resolutions will all be proposed as ordinary resolutions passed if,
on a show of hands, more than 50% of the votes cast by those
entitled to vote are in favour thereof, or if on a poll,
shareholders representing more than 50% of the total voting rights
of entitled shareholders vote in favour. There are no special
resolutions proposed for this 2018 annual general meeting.
ORDINARY BUSINESS
Resolution 1 - Annual report and accounts
The Company must lay the annual report and accounts for the year
ended 31 December before the shareholders at the Annual General
Meeting each year. A copy of the annual report, accounts and
auditor's report are available on the Company's website at
www.worldtradesystemsplc.com
The directors must also lay the directors' remuneration report
and (Company's remuneration policy contained within) before the
shareholders at the Annual General Meeting for their approval. This
is an advisory vote; it is not a binding vote.
Resolutions 2 - Authority to appoint new auditor
The Company is required to appoint a new auditor. Grant Thornton
(UK) LLP has served the Company for 10 years therefore must be
rotated this year in accordance with mandatory audit firm rotation
rules under the EU audit reform. Resolution 2 proposes that the
board is given authority to appoint a new auditor and be authorised
to determine the remuneration of chosen auditors until the
conclusion of the next annual general meeting.
Resolution 3 - Re-election of director
The articles of association provide that any director who was
not appointed or reappointed at one of the preceding two annual
general meetings must retire from office and may offer themselves
for reappointment by the Members. Resolution 3 to re- elect Mr
Robert Lee as a director (and non-executive Chairman) who in
accordance with article 24.4.2b of the articles of association of
the Company, retires from office and offers himself for
re-appointment by the Members
Mr Robert Lee, being eligible, offers himself for re-election at
this Annual General Meeting. The biography of Mr Robert Lee
offering himself for re-election is set out below and within the
annual report.
Biography of director proposed for re-election
Mr Robert Lee, aged 67, is a solicitor admitted in England and
Wales, Hong Kong, California, Ontario and Victoria (Australia).
Since 1984 his professional career has been spent practising in the
far east, where he now lives and has been a partner in two
international law firms. In 1988 he established his own firm, which
has offices in Hong Kong, Tokyo and Singapore. His practice is a
general corporate and commercial one, centred on providing
assistance for international companies investing and operating in
multiple jurisdictions manly in Asia and Europe.
Recommendation
The directors of the Company consider that all the resolutions
to be considered at the Annual General Meeting are in the best
interests of the Company and its shareholders as a whole and
recommend that you vote in favour of these resolutions.
Your vote does matter. If you are unable to attend the meeting
in person, you can still vote by appointing a proxy to attend the
Annual General Meeting and to vote on your behalf by requesting a
form of proxy, completing, signing and returning it to Mr. AKM
Ismail, World Trade Systems PLC, First Floor, Lexham House, 14 Hill
Avenue, Amersham HP6 5BW either by post or email on
akm.ismail@gmail.com. To be effective, the duly completed proxy
form must be received no later than 18.00 hours on 27th June 2017.
You can still attend and vote at the Annual General Meeting even if
you have returned your form of proxy or given your voting
instructions electronically.
Thank you for your continued support.
Yours sincerely
Robert Lee
Non-Executive Chairman
Click on, or paste the following links into your web browser, to
view the associated PDF documents.
http://www.rns-pdf.londonstockexchange.com/rns/7665Q_1-2018-6-8.pdf
http://www.rns-pdf.londonstockexchange.com/rns/7665Q_2-2018-6-8.pdf
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END
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June 08, 2018 08:32 ET (12:32 GMT)
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