RESULT OF ANNUAL GENERAL MEETING HELD ON 23 JUNE 2022

Rhea-AI Summary

On June 23, 2022, at GigaMedia Limited's Annual General Meeting (AGM), all resolutions stated in the AGM Notice dated May 13, 2022, were passed. Key resolutions included the adoption of audited financial statements with 98.81% votes in favor, appointment of auditors with 99.00% approval, and directors' remuneration with 97.65% support. Additionally, resolutions for share issuance authority and share purchase mandate received 97.99% and 98.74% approval, respectively. The company, headquartered in Taipei, Taiwan, specializes in digital entertainment services.

Positive

• 98.81% approval for audited financial statements indicates strong shareholder support.
• 99.00% of votes approved the appointment of auditors, reflecting confidence in financial governance.
• 97.65% support for directors' remuneration suggests alignment with shareholder interests.
• Authority to issue shares received 97.99% approval, allowing for potential future growth.
• 98.74% approval for share purchase mandate may enhance shareholder value through repurchases.

Negative

• None.

TAIPEI, June 23, 2022 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM), a digital entertainment services provider, announces that at the Annual General Meeting ("AGM") of the Company held on 23 June 2022, all resolutions relating to the matters set out in the Notice of AGM dated 13 May 2022 were duly passed.

Poll Results

The results of the poll in respect of each of the resolutions put to vote at the AGM, as confirmed by scrutineer for the poll at the AGM, are as follow:

Resolution 1 – Adoption of audited financial statements

FOR		AGAINST		ABSTAIN
No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM
4,203,056	98.81	39,120	0.92	11,336	0.27

Resolution 2 – Approval of appointment of auditors

FOR		AGAINST		ABSTAIN
No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM
5,569,806	99.00	37,986	0.68	18,502	0.33

Resolution 3 –Approval of Directors' remuneration

FOR		AGAINST		ABSTAIN
No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM
4,153,742	97.65	91,792	2.16	7,978	0.19

Resolution 4 – Approval for authority to allot and issue shares

FOR		AGAINST		ABSTAIN
No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM
4,167,884	97.99	74,904	1.76	10,724	0.25

Resolution 5 – Approval for share purchase mandate

FOR		AGAINST		ABSTAIN
No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM	No. of votes	% of total votes exercised at AGM
4,200,014	98.74	44,811	1.05	8,687	0.20

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia's digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in April 2022.

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SOURCE GigaMedia

FAQ

What resolutions were passed at GigaMedia's AGM on June 23, 2022?

All resolutions outlined in the AGM Notice dated May 13, 2022, were passed.

What was the approval percentage for the audited financial statements at GigaMedia's AGM?

The audited financial statements received 98.81% approval.

How did shareholders vote on the appointment of auditors at GigaMedia's AGM?

The appointment of auditors was approved by 99.00% of votes.

What percentage of votes supported directors' remuneration at the AGM?

Directors' remuneration was supported by 97.65% of votes.

What was the outcome of the share issuance authority resolution at GigaMedia's AGM?

The resolution for authority to allot and issue shares was approved with 97.99% support.

How did the shareholders vote on the share purchase mandate at GigaMedia's AGM?

The share purchase mandate received 98.74% approval from shareholders.