CORPORATE GOVERNANCE REPORT 150 Annual Report 2025 1207(17) Interested Persons’ Transactions (“IPT”) The Company does not have an IPT Mandate. The aggregate value of IPTs for FY2025 disclosed in accordance with Rule 907 of the Listing Rules was as follows: Name of interested person Nature of relationship Aggregate value of all interested person transactions during the financial year under review (excluding transactions less than $100,000 and transactions conducted under shareholders’ mandate pursuant to Rule 920) Aggregate value of all interested person transactions conducted under shareholders’ mandate pursuant to Rule 920 (excluding transactions less than $100,000) Monarch Marine Holding Ltd (“MMH”) MMH is 40% owned by Cresta Group Ltd. (“Cresta”) and 40% owned by RIToN Holding Ltd. (“RIToN”). Cresta is wholly-owned by Dr Karl Lidgren, a Controlling Shareholder of the Company. RIToN is wholly-owned by Mr Hans Lidgren, a Controlling Shareholder of the Company. US$2,073,200 NA Save as disclosed above, there were no other IPTs that were S$100,000 or more, entered into by the Group in FY2025. The Company has adopted an internal policy in respect of any transactions with an interested person (as defined in the Listing Rules) and has established procedures for the review and approval of all IPTs entered into by the Group. The AC reviews the rationale and terms of the Group’s IPTs, with the view that the IPTs should be on normal commercial terms, at arm’s length basis and are not prejudicial to the interests of its minority shareholders. As part of the Company’s policy, Directors are required to disclose to the Board all actual and potential conflicts of interest. A Director shall recuse himself or herself from discussions and abstain from voting on resolutions regarding any contract, arrangement or any other transaction in which he or she has any personal material interest, directly or indirectly.
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