november – PressAP

JCN Newswire

Mazda Production and Sales Results for November 2022

December 26, 2022

HIROSHIMA, Japan, Dec 26, 2022 - (JCN Newswire via SEAPRWire.com) - Mazda Motor Corporation's production and sales results for November 2022 are summarized below.I. Production1. Domestic ProductionMazda's domestic production volume in November 2022 decreased 11.9% year on year due to decreased production of passenger vehicles.[Domestic production of key models in November 2022]CX-5:32,399 units(down 0.2% year on year)MAZDA3:8,746 units(down 34.9%)CX-30:6,639 units(down 32.2%)2. Overseas ProductionMazda's overseas production volume in November 2022 increased 6.0% year on year due to increased production of passenger vehicles.[Overseas production of key models in November 2022]CX-30:8,951 units(down 12.6% year on year)MAZDA3:7,684 units(down 48.2%)MAZDA2:7,518 units(up 111.7%)II. Domestic SalesMazda's domestic sales volume in November 2022 increased 10.7% year on year due to increased sales of passenger vehicles.Mazda's registered vehicle market share was 4.1% (up 0.5 points year on year), with a 1.8% share of the micro-mini segment (down 0.3 points) and a 3.1% total market share (up 0.1 points).[Domestic sales of key models in November 2022]MAZDA2:1,668 units(down 36.3% year on year)CX-5:1,517 units(up 399.0%)CX-60:1,401 unitsIII. ExportsMazda's export volume in November 2022 increased 1.6% year on year due to increased shipments to North America and other regions.[Exports of key models in November 2022]CX-5:26,600 units(down 12.2% year on year)MAZDA3:6,895 units(up 30.2%)CX-30:5,287 units(down 24.0%)IV. Global SalesMazda's global sales volume in November 2022 decreased 2.7% year on year due to decreased sales in China, Europe and other regions.[Global sales of key models in November 2022]CX-5:29,584 units(up 20.0% year on year)MAZDA3:12,156 units(down 37.4%)CX-30:11,758 units(down 31.5%)For more information, visit https://newsroom.mazda.com/en/publicity/release/2022/202212/221226a.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

JCN Newswire

Toyota Announces Sales, Production, and Export Results for November 2022

December 26, 2022

Toyota City, Japan, Dec 26, 2022 - (JCN Newswire via SEAPRWire.com) - Toyota Motor Corporation (TMC) announces its sales, production, and export results for November 2022, as well as the cumulative total from January to November 2022, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.In November 2022, both global sales and production exceeded the previous year's level as a result of solid demand, primarily in North America, in addition to a rebound from the impact of parts supply shortages associated with the spread of COVID-19 in Southeast Asia in the previous year.The situation remains difficult to predict due to semiconductor shortages and COVID-19. However, we will continue to carefully monitor the parts supply situation and minimize sudden decreases in production as much as possible while making every effort to deliver as many vehicles to our customers at the earliest date.For more information, visit https://global.toyota/en/company/profile/production-sales-figures/202211.html. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Kitchen Culture Says Purported Notice to Call Second Attempted EGM on 25 November 2022 to Remove 5 Directors By Electronic Means Is Invalid; Urges Shareholders Not To Attend

November 18, 2022

SINGAPORE, Nov 18, 2022 - (ACN Newswire via SEAPRWire.com) - Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company") said today that a second attempt to convene an Extraordinary General Meeting ("Second Intended EGM") to remove 5 of 6 directors next week is defective and invalid for non-compliance with the Companies Act 1967 and the Company's Constitution.Kitchen Culture had sought legal advice and had since early November 2022 been writing to lawyers representing OOWAY Group Ltd. ("OOWAY") who in turns representing a group of 7 other shareholders (8 aforementioned shareholders collectively, the "Requisitioners") who had published an advertisement in The Business Times on 3 November 2022 calling for the Second Intended EGM to be held on 25 November 2022 by electronic means. Based on opinions of 2 lawyers, Kitchen Culture, the SGX Catalist-listed provider of solutions and products for kitchens and wardrobes said:"... the Company announces that the Second Intended EGM (scheduled for 9.00 am on Friday 25 November 2022 to be held by electronic means) is NOT a proper extraordinary general meeting of the Company. As such, that Second Intended EGM is defective and invalid, and any resolution passed at any purported meeting held as the Second Intended EGM will be invalid. Even assuming that the Second Intended EGM is not defective and invalid, any resolution to remove any Director or to appoint some person in place of a Director so removed, will be invalid."The Requisitioners had not given sufficient notice in writing of the Second Intended EGM as required by the Companies Act and the Constitution of the Company. While the Requisitioners were in a position to send all required notices in writing to every member of the Company at the relevant and appropriate address they did not do so, the Company said.Further, the Requisitioners are in 'serious breach' of the Company's Constitution by failing to deposit executed Proxy Forms only at Kitchen Culture's registered office. Instead, shareholders were informed that executed Proxy Forms were "to be sent to the office of a company unknown to the Company and at an address not previously known to the Company, and not to the registered office of the Company."Kitchen Culture's Board, with the exception of Madam Hao Dongting, has said that there are no grounds to justify the resignations of the 5 directors - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (NonExecutive Non-Independent Chairman), and 3 Independent Directors, Mr Ang Lian Kiat, Mr William Teo Choon Kow and Mr Peter Lim King Soon.Mr Lau Kay Heng and Mr Peter Lim King Soon were named as new directors on 15 July 2022, the same day that Mr Lincoln Teo, an OOWAY representative and former Interim CEO of Kitchen Culture, ceased to be Executive Director. The Company stressed that OOWAY had in fact supported the re-appointments of Mr William Teo Choon Kow and Mr Ang Lian Kiat at the Annual General Meeting held on 18 March 2022. The Requisitioners comprise OOWAY - the Company's largest shareholder - and 7 individuals who own an aggregate of 21.71% of the Company's shares. They had first issued Purported Notices under Section 177 of the Companies Act 1967 - on 30 September 2022 and 14 October 2022 - to remove the 5 directors at a physical EGM that was first called to be held on 1 November 2022 at the Grand Copthorne Waterfront Hotel.Kitchen Culture had responded that the Purported Notices were defective and that any resolution passed at the 1 November 2022 EGM would be invalid. The Requisitioners then published the 3 November 2022 newspaper advertisement and engaged in legal correspondence with the Company's lawyers."The Company will not be publishing as an announcement the Second Concatenation Purported Notice of EGM, and the Company cannot proceed and will not be proceeding with the Second Intended EGM purportedly called for by the Relevant Shareholders (i.e. the Requisitioners). If the Second Intended EGM is attempted to be held, and any resolution purportedly passed at such Second Intended EGM, would be invalid. In any case, the Company advises shareholders not to attend the Second Intended EGM purportedly called for on 25 November 2022", Kitchen Culture said.Kitchen Culture shares have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY in October 2020. Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Kitchen Culture Seeking Legal Advice on Validity of New Purported Notice to Remove 5 Directors; Urges Shareholders Not to Accept Notices or Proxy Forms Unquestioningly

November 3, 2022

SINGAPORE, Nov 3, 2022 - (ACN Newswire via SEAPRWire.com) - Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company") said today it will seek fresh legal advice on the validity of a letter from a law firm and fresh notice received by a group of 8 shareholders ("requisitioners") seeking to remove 5 of 6 directors via an Extraordinary General Meeting ("Second Intended EGM") proposed for 25 November 2022.The directors of SGX Catalist-listed provider of solutions and products for kitchens and wardrobes received the new notice ("Second Concatenation Purported Notice") as well as a lawyer's letter yesterday. The requisitioners also published an advertisement for the Second Concatenation Purported Notice in The Business Times today.OOWAY Group Ltd. ("OOWAY") - the Company's largest shareholder - and 7 individuals who own an aggregate of 21.71% of the Company's shares had issued Purported Notices under Section 177 of the Companies Act 1967 - on 30 September 2022 and 14 October 2022 - to remove the 5 directors. Kitchen Culture responded that the Purported Notices were defective and that any resolution passed on 1 November 2022 would be invalid.Kitchen Culture's Board, with the exception of Madam Hao Dongting, has said that there are no grounds to justify the resignations of the 5 directors - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Director and Vice-Chairman), and 3 Independent Directors, Mr Ang Lian Kiat, Mr William Teo Choon Kow and Mr Peter Lim King Soon.Mr Lau Kay Heng and Mr Peter Lim King Soon were named as new directors to on 15 July 2022, the same day that Mr Lincoln Teo, an OOWAY representative and former Interim CEO of Kitchen Culture, ceased to be Executive Director. The Company stressed that OOWAY had in fact supported the re-appointments of Mr William Teo Choon Kow and Mr Ang Lian Kiat at the Annual General Meeting held on 18 March 2022.Addressing the letter and notices received yesterday from a law firm, which did not confirm for whom they were acting, Kitchen Culture said:- The undated Second Concatenation Purported Notice contained resolutions for the proposed for Second Intended EGM scheduled for 25 November 2022 that were substantially similar to those proposed for the 1 November 2022 EGM that was 'postponed'. Yet it made no mention nor explained the so-called 'postponement' advertised by requisitioners on 29 October 2022 in The Business Times despite having issued a press release on 24 October 2022 urging shareholders to attend;- As the above documents gave notice of the "Second Intended EGM" "to be convened and held only be electronic means" on 25 November 2022, it remains unclear if requisitioners have detracted from the "postponed" 1 November 2022 EGM which they had earlier urged shareholders to attend;- The letter received from the law firm failed to explain how 2 earlier notices filed by requisitioners ahead of the earlier EGM (1 November 2022) can be "reissued" as a "composite" in the form of the Second Concatenation Purported Notice to call for the Second Intended EGM; and- The requisitioners did not confirm whether the requisitioners regard the Second Intended EGM to be in anyway connected with the 1 November 2022 EGM that was called off.The Company will seek to communicate with the requisitioners to minimise, if not to clear up, the confusion among shareholders which might have been caused by the requisitioners' actions or by the documents or omissions contained in the documents received yesterday.Kitchen Culture urged shareholders in the meantime "NOT to accept unquestioningly the Second Concatenation Purported Notice of EGM or its related Proxy Form, or the validity the Second Intended EGM. Instead, they should await further announcements of the Company to give updates on this subject." Kitchen Culture shares have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY in October 2020.Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

Kitchen Culture’s Extraordinary General Meeting (EGM) to be held on 25th November 2022, 9am

November 3, 2022

SINGAPORE, Nov 3, 2022 - (ACN Newswire via SEAPRWire.com) - Relevant Shareholders[1] of Kitchen Culture Holdings Ltd. today announced that the new Extraordinary General Meeting of the Company (EGM) will be convened on 25th November 2022 at 9am. The Live EGM Webcast and the Live EGM Audio Feed has been arranged in place of a physical EGM.The Relevant Shareholders have informed the Company's Board on 2nd November 2022 in a letter of the same date of their intention to convene an EGM pursuant to Section 177 of the Companies Act[2]. The full notice of the EGM has been published on The Business Times on 3rd November 2022. The EGM seeks to remove 5 of Kitchen Culture's current Board of Directors and to appoint 5 new members to the Board. (See Annex A for details)Shareholders who have pre-registered will be able to watch or listen to the EGM proceedings through the Live EGM Webcast or the Live EGM Audio Feed via mobile phone, tablet, computer or any such electronic device.Details of the steps for pre-registration for the Live EGM Webcast or Live EGM Audio Feed, submission of substantial and relevant comments, queries and/or questions in advance of the EGM or through real-time electronic communication during the EGM, and voting live at the EGM by members themselves via real-time remote electronic voting or voting by appointing of a proxy(ies) or the Chairman of the EGM as proxy are set out in the Notice of EGM which has been published on The Business Times on 3rd November 2022.All Shareholders including those who have bought shares using SRS monies must pre-register online at https://registration.ryt-poll.com/home/index/kchl-egm by 9.00 a.m. on Tuesday, 22nd November 2022 (being not less than 72 hours before the time appointed for holding the EGM) to enable verification of their status.Following the verification and upon the closure of pre-registration, authenticated shareholders will receive email instructions to access the Live EGM Webcast and the Live EGM Audio Feed of the EGM proceedings by 9.00 a.m. on 24 November 2022 (being 24 hours before the time appointed for the holding of the EGM). The email instructions will contain the user ID, password details, and URL link to access the Live EGM Webcast and the Live EGM Audio Feed.Reasons for changing to a new EGM dateThe Relevant Shareholders of Kitchen Culture wish to highlight that the Company had previously refused to publish a Notice of EGM on SGXNet and on the Company's website, contrary to Catalist Rule 704(14) of the SGX Listing Manual ("Rule"). Under the Rule, the Company is required to immediately announce the details of any general meeting, such as publishing a copy of the Notice of the EGM on SGXNet and the Company's website regardless of any advice sought or action to be taken.The failure to do so is a breach of the Rule and unfairly disenfranchises shareholders who wish to attend and exercise their vote at a general meeting. The Relevant Shareholders[3] said,By requisitioning for a new EGM date, we want to ensure that this time round, all shareholders of Kitchen Culture are given the opportunity to attend and vote at the EGM on 25th November 2022 (9:00am). Alternatively, those who are unable to attend the EGM can vote by proxy by 23rd November 2022 (9:00am).As shareholders, they should have the right to decide who they wish to appoint to act in their interests as the directors of the Company.We would like to thank all shareholders of Kitchen Culture who have supported our efforts thus far in the proposed appointment of our new board of directors, whom if elected, will make a significant difference in providing strong leadership and strategic direction to take the Company forward.""We also wish to inform all shareholders that the requisitioning of the previous EGM, was in compliance with all relevant statutes/rules, but we decided to take the difficult (but correct) decision to postpone the EGM date to ensure that all shareholders can make informed decision and vote accordingly." We have sought legal advice to review Article 71 of the Company's Articles of Association and was advised to reschedule the EGM, giving 21 days' notice to pre-empt any possible dispute on the length of the notice period."[1] "Relevant Shareholders" refer to OOWAY Group Ltd., Koh Cher Chow, Lin Xiao Long, Ling Chui Chui, Koh Ngin Joo, Lim Cheng Huat, Chew Yu Sheng and Soh Koon Eng who together hold more than 10% of Kitchen Culture's issued share capital.[2] Section 177 Notice constituting a special notice under Section 152(2) read with Section 185 of the Companies Act 1967 of Singapore (the "Companies Act") of the intention of the Relevant Shareholders to convene an extraordinary general meeting of the Company (the "EGM") pursuant to Section 177 of the Companies Act. [3] See Annex BIssued by Relevant Shareholders of Kitchen Culture Ltd. Media and Investors Contact: Email: query@oowayasia.comAnnex A: Extract of Agenda for EGM:At the upcoming EGM, the 2 main agenda items among others to be raised are:1. Removal of the following 5 Directors on the existing Board:a. Mr. Lau Kay Hengb. Mr. Lim Wee Lic. Mr. William Teo Choon Kowd. Mr. Ang Lian Kiat and e. Mr. Peter Lim King Soon2. Appointment of the following individuals to the Board:a. Mr James Beeland Rogers, Jr. to be appointed as a Non-Executive Director of the Company; b. Mr Yip Kean Mun to be appointed as an Executive Director of the Company; c. Mr Lam Kwong Fai to be appointed as an Independent Director of the Company; d. Mr Tan Meng Shern to be appointed as an Independent Director of the Company; and e. Mr Cheung Wai Man to be appointed as an Independent Director of the Company.This Notice of EGM has been advertised on 3rd November 2022, one English Language daily newspaper circulating in Singapore, namely The Business Times, pursuant to Article 71 of the Company's Constitution.Printed copies of this Notice of EGM and Proxy Form will NOT be sent to members. Instead, these documents ought to be made available by the Company to shareholders solely by electronic means via publication on the Company's website and on the SGXNet.Copies of the redacted curriculum vitae, Form 45 (Consent to Act as Director), confirmations of independence (where applicable) and Catalist Rules undertakings of these new directors proposed to be appointed to the board will be made accessible at these links:Link 1: https://drive.google.com/drive/u/0/mobile/folders/1iEag3gqRV_OAMPuErTOrWmTsji4KRyvp?usp=sharingLink 2: https://tinyurl.com/5bkvtepr Annex B: Notice to Company The Relevant Shareholders have also informed the Kitchen Culture Board that prior to the conclusion of the EGM, the Company, including the current Directors of the Company, should not: 1. Take any action to effect any casual appointment of Director(s) or action that will affect the number of existing issued shares of the Company or carry out any corporate action that is dilutive in nature to the minority shareholders of the Company; 2. Carry out any transaction that would result in the divestment or acquisition of any business interest or asset for or on behalf of the Company; 3. Enter into any transaction committing or exposing the Company to any potential liability of a significant nature.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)