BOE Varitronix Limited has issued a circular convening its annual general meeting (AGM) for 25 June 2026, 10:00 a.m. in Hong Kong. Key proposals include:
• Cash Dividend – Board recommends a final dividend of 15.30 HK cents per share for the financial year ended 31 December 2025. – Subject to approval, the dividend will be paid on or around 17 July 2026 to shareholders on record as of 10 July 2026. – Books will be closed from 7 July to 10 July 2026 (both dates inclusive) for dividend entitlement.
• Share Repurchase Mandate – Directors seek authority to buy back up to 10% of the issued share capital (excluding any treasury shares), equivalent to a maximum of 79.16 million shares based on the 791.58 million shares outstanding as of 10 April 2026. – Mandate will run until the next AGM, expiry of statutory meeting period, or revocation by shareholders, whichever occurs first.
• Share Issuance Mandate – A separate resolution authorises the Board to allot and issue new shares up to 20% of existing issued capital, with an additional extension for shares repurchased under the above mandate. – Both mandates aim to provide funding and strategic flexibility.
• Board Composition – Five directors retire and stand for re-election: Executive directors Ms. Ko Wing Yan, Samantha and Mr. Lo Pak Chi; non-executive directors Mr. Meng Chao and Mr. Liu Jing; and independent non-executive director Mr. Pang Chunlin. – The nomination committee supports their reappointment, citing experience, industry expertise, and compliance with independence criteria.
• Other Business – Reappointment of KPMG as external auditor with remuneration to be set by the Board. – Shareholders may vote in person or by proxy; proxy forms must reach Computershare Hong Kong Investor Services by 23 June 2026, 10:00 a.m. – Register of members will be closed from 18 June to 25 June 2026 for AGM attendance rights.
The Board unanimously recommends shareholders to approve all resolutions, emphasizing the mandates’ role in enhancing capital management flexibility and supporting future growth initiatives.
Comments