Youran Dairy shareholders green-light specific mandate; Boyuan’s stake to climb to 24.48% after Whitewash Waiver approval

Bulletin Express05-22

China Youran Dairy Group Limited (Youran Dairy) secured overwhelming independent shareholder support at its 22 May 2026 extraordinary general meeting (EGM) for two key resolutions tied to a new share placement and a Takeovers Code waiver.

The ordinary resolution authorising the “Specific Mandate Subscription” passed with 99.86% of the 1.51 billion votes cast, comfortably above the simple-majority requirement. The parallel special resolution granting a Whitewash Waiver—permitting Boyuan without triggering a mandatory general offer—also achieved 99.86% support, clearing the 75% threshold.

On 20 May 2026, the Executive (SFC) conditionally approved the Whitewash Waiver. With EGM approval now obtained, remaining conditions include fulfilment of other precedent items in the subscription agreement and internal approvals by Boyuan and its parent Inner Mongolia Yili Industrial Group.

Transaction impact • New shares to be issued: 299.25 million • Enlarged share base: rising to 4.49 billion from 4.19 billion • Boyuan’s holding: up to 1.10 billion shares, or 24.48% (from 19.08%) • Yili and concert parties combined: 36.07% (from 31.51%) • Public float: 63.93% (from 68.49%)

Tricor Investor Services acted as scrutineer for the poll. Youran Dairy reiterated that completion of the subscription remains subject to the outstanding conditions and urged shareholders and investors to exercise caution when dealing in the company’s shares.

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