Rongzun International Holdings Group Ltd (01780) has dispatched its 2026 AGM circular outlining four principal proposals for shareholder approval on 8 September 2026 in Hong Kong.
General mandates • Share issue: Directors request authority to allot and issue up to 124.00 million new shares, equivalent to 20% of the current 620.00 million shares in issue. • Share repurchase: A separate mandate would permit the buyback of up to 62.00 million shares, representing 10% of issued share capital (excluding any treasury shares). • Extension: Conditional on approval of both mandates, any shares repurchased may be added to the issue mandate, effectively expanding potential issuance.
Auditor replacement • Deloitte Touche Tohmatsu has resigned, citing inability to reach agreement on audit fees amid the Group’s business expansion. • The Board, following Audit Committee recommendation, proposes appointing CCTH CPA Limited as new auditor until the next AGM. • Proposed audit fee for FY27 (year ending 31 March 2027) is estimated at HK$0.50 million–HK$0.70 million, below Deloitte’s previous quote. • The Board states Deloitte had not begun FY26 audit work; no other matters were raised by the outgoing auditor.
Board composition • Executive Director and CEO Dr. Hiroshi Kaneko and Independent Non-executive Director Mr. Sung Ka Woon will retire by rotation and stand for re-election at the AGM. • Dr. Kaneko receives a monthly remuneration of HK$0.10 million; Mr. Sung receives HK$0.015 million per month.
Key dates • Books closure for AGM attendance: 3–8 September 2026 (both dates inclusive). • AGM to be held on 8 September 2026 at 12:00 p.m. in Tsim Sha Tsui, Kowloon.
Voting • All resolutions will be decided by poll; proxy forms must reach Boardroom Share Registrars (HK) Ltd. no later than 48 hours before the meeting.
The Board recommends shareholders vote in favour of all proposed resolutions, citing enhanced capital flexibility, cost-effective audit services, and continuity in board leadership.
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