investor relations

M1 continued to maintain dialogue with the investment community, shareholders and other interested parties throughout the financial year. We believe good corporate governance together with open and timely communication is the best way to facilitate the investment community to form an informed opinion of the Company.

At the IR Magazine South East Asia Awards 2010, M1 was one of four companies nominated for the Grand prix for best overall investor relations (IR) in the small or mid-cap companies category. We were also awarded a Certificate of Excellence at the same event. This reflects the recognition we received from investors and analysts who were polled for their opinions on best practice investor relations in the region.

For FY2010, M1 continued to release quarterly, interim and full-year results to the public within one month of period end during the year. All materials relating to the Company’s results, including presentation slides, were made available immediately on our website, after mandatory posting with the Singapore Exchange (SGX). Analysts, investors and the media were invited to join our quarterly conference calls, which were followed by question and answer sessions with senior management, on the same day of every results announcement. For the FY2010 full-year results, we conducted an in-person briefing at a centrally located venue. Audio webcasts of these events were also made available on the M1 website.

FY2010 was a significant year for M1 in terms of service developments as the expansion of our fixed business continued. It was a priority of the IR team to keep all interested parties abreast with these developments, through timely distribution of press releases containing details of our product or service launches and attending to subsequent queries. Senior management also took an active role in providing analysts and investors with relevant updates on the Company’s strategies and outlook through various avenues, such as conference calls, ad-hoc meetings, non-deal roadshows (NDRs) and investor conferences, both locally and abroad.

As at 28 February 2011, the free float¹ of M1 shares was 37.0%, with the majority shares held by institutional investors across Asia, UK and USA. As part of our IR efforts to reach out personally to current and potential institutional investors in these regions, we undertook three NDRs in 2010 to UK, Japan and Hong Kong. Locally, we participated in three investor conferences, namely the CLSA Regional Forum, UBS Pan Asia Telco Conference and the BNP Paribas Singapore Corporate Day.

The M1 IR team is committed to being an easily accessible channel for analysts, as well as current and potential investors to raise any clarifications or provide feedback. Email queries are welcome and can be addressed to ir@m1.com.sg. As always, we strive to respond to all received queries in an effective and prompt manner. Shareholders and interested parties are also encouraged to access the M1 corporate website at www.m1.com.sg for the latest updates.

The Annual General Meeting (AGM) remained an important platform for retail shareholders to communicate any questions about the Company to the Board and members of the senior management team directly. As such, we continued to host our AGMs at a central and accessible location, to accommodate to shareholders’ convenience. All Board members and members of the senior management team make their best effort to attend each AGM to interact with shareholders. Our eighth AGM, held on 8 April 2010 at The Raffles City Convention Centre, was well attended by shareholders.

M1 is committed to creating long-term value for its shareholders, through maintaining a sustainable dividend policy and returning excess cash to shareholders in the absence of value-enhancing opportunities. In line with this approach, we announced a special dividend of 3.5 cents per share, in addition to the final dividend of 7.7 cents per share. Taken together with the interim dividend, the total dividend proposed for FY2010, represents a 30.6% increase in dividend per share over the previous year. In terms of total shareholder return (comprising of capital gains and cash distributions received), M1’s return to shareholders for the year 2010 was 31.5% on amount invested at the start of the same year.

1	Free float is defined as the percentage of total issued share capital of the Company held in the hands of the public (on the basis of information available to the Company)

	HISTORICAL CAPITAL DISTRIBUTIONS
	Year	Interim Dividend	Final Dividend	Special Dividend	Other Distributions
		(cents)	(cents)	(cents)	(cents)2
	2010	6.3	7.71	3.51	–
	2009	6.2	7.2	–	–
	2008	6.2	7.2	–	–
	2007	2.5	8.3	–	4.6
	2006	5.8	7.5	–	22.2
	2005	5.0	8.1	12.2	–
	2004	4.9	5.8	–	11.0
	2003	3.9	5.5	–	–
	2002	–	7.3	–	–
	Note: On per share and declared basis 1   Subject to shareholders’ approval at AGM 2   M1 undertook capital reduction exercises in 2004, 2006 and 2007
	FINANCIAL CALENDAR FOR 2011
	Date	Event/Announcement
	19 January 2011	Release of FY2010 full-year results
	7 April 2011	Annual General Meeting
	26 April 2011	Payment of FY2010 final dividends (subject to shareholders’ approval at AGM)
	April 20111	Release of FY2011 first-quarter results
	July 20111	Release of FY2011 half-year results
	September 20111	Payment of FY2011 interim dividends (if applicable)
	October 20111	Release of FY2011 third-quarter results
	1 Actual date will be released through M1’s and SGX’s websites, closer to the event/announcement