MECOM POWER and Construction Limited has dispatched a circular convening its Annual General Meeting (AGM) for 28 May 2026, 3:00 p.m. at Infinitus Plaza, Sheung Wan, Hong Kong. Key proposals to be tabled are outlined below.
Renewal of Share Mandates • General Issue Mandate: Directors seek authority to allot, issue or deal with up to 20% of issued shares (excluding treasury shares) as at the meeting date. Based on 3.98 billion shares outstanding on 17 April 2026, this equals up to 796.14 million new or treasury shares. • Share Buy-Back Mandate: Authority to repurchase up to 10% of issued shares (398.07 million shares) during the mandate period. The mandate will lapse at the earlier of the next AGM, the statutory deadline for holding it, or revocation by shareholders. • Extension Mandate: Number of shares repurchased under the buy-back mandate may be added to the issue mandate.
Director Re-elections • Executive Chairman and founder Mr Kuok Lam Sek (age 63) and Independent Non-executive Director Mr Lio Weng Tong (age 49) will retire by rotation and stand for re-election. • The Nomination Committee supports both re-elections, citing their contributions, diversity value and continued independence (for Mr Lio).
Proposed Auditor Change • Deloitte Touche Tohmatsu will retire as auditor after the AGM following an unresolved audit-fee disagreement. • The Board, on Audit Committee recommendation, proposes appointing OOP CPA & Co. as new auditor for the financial year ending 31 December 2026. Deloitte confirmed no circumstances need to be brought to shareholders’ attention, and audit transition is not expected to affect FY2026 reporting.
Logistics & Timetable • Share register closure: 22–28 May 2026 (both days inclusive). • Shareholders must lodge transfer documents by 4:30 p.m. on 21 May 2026 to qualify for AGM attendance and voting. • Record date: 28 May 2026. • Proxy forms must reach Tricor Investor Services by 3:00 p.m. on 26 May 2026 (48 hours before the AGM).
The Board recommends shareholders vote in favour of all resolutions, citing benefits to capital management flexibility, corporate governance continuity and maintenance of audit quality.
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