SUNeVision clarifies connected-transaction status; Maintenance deals to seek independent shareholders’ approval, circular out 29 May

Bulletin Express05-26

SUNeVision Holdings Ltd. has revised the compliance treatment of its maintenance-related continuing connected transactions, confirming that both the Maintenance Arrangement and the related Maintenance Sub-contracting Arrangement must be aggregated with the System and Networking framework agreements under Listing Rule 14A.81.

The aggregation pushes the revenue ratio under Rule 14.07 above the 5 per cent threshold for each of the three financial years ending 30 June 2029, reclassifying the two maintenance deals as non-exempt continuing connected transactions. Consequently, they are now subject to reporting, announcement, annual review and Independent Shareholders’ Approval requirements stipulated in Chapter 14A of the Listing Rules.

All new agreements governing the Maintenance Arrangement and the Maintenance Sub-contracting Arrangement have been amended to take effect only after approval by independent shareholders. These resolutions will be tabled at an extraordinary general meeting scheduled for 30 June 2026.

A circular containing full details of the transactions, the Independent Board Committee’s recommendations and an independent financial adviser’s opinion will be despatched to shareholders on 29 May 2026.

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