HSC Resources Group (1850) Receives Shareholder Requisition to Remove and Appoint Directors

Bulletin Express10-28

On 28 October 2025, HSC Resources Group Limited (the Company) announced receipt of a letter dated 27 October 2025 from a shareholder, Mr. Wang Le, requesting an extraordinary general meeting (EGM) in accordance with the Company’s Articles of Association. The letter specifies a proposal to remove certain existing directors and appoint new ones, including Mr. Wang as an executive director and two other individuals as independent non-executive directors.

According to the announcement, Mr. Wang holds 18,000,000 shares, representing about 10.42% of the Company’s issued share capital. Under the Articles, a shareholder or shareholders holding at least one-tenth of the paid-up capital may require the Board to convene an EGM for business stated in the requisition. The Company indicates that this meeting shall be held within two months of the letter’s deposit date.

The Board is currently seeking professional advice regarding procedural and regulatory requirements. Following those consultations, the Company will arrange the EGM in compliance with applicable laws and regulations. The Company also plans to dispatch a relevant circular and an EGM notice to its shareholders when practicable.

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