VSING Limited reported the results of its 15 June 2026 Annual General Meeting (AGM), where shareholders holding 470.21 million voting shares participated. Every resolution was approved with 100% support—except the re-election of independent non-executive director (INED) Ms. Cheung Choi Hung, which received zero votes in favour and 470.21 million votes against.
Consequently, Ms. Cheung retired as INED and ceased to serve on the audit, remuneration and nomination committees at the close of the AGM. Her departure leaves the board with three executive directors and two INEDs, creating four areas of non-compliance with GEM Listing Rules: 1. Fewer than three INEDs (Rule 5.05(1)); 2. Audit committee with fewer than three members (Rule 5.28); 3. Remuneration committee lacking an INED majority (Rule 5.34A); 4. Nomination committee lacking an INED majority (Rule 5.36A).
The board intends to appoint a new INED within three months to restore compliance.
Other key AGM outcomes: • Audited financial statements for the year ended 31 December 2025 were adopted. • Executive directors Mr. Ngu Sing King and Mr. Lai Kwok Hei, along with INED Mr. Chan Ho Choi Henry, were re-elected. • Elite Partners CPA Limited was re-appointed as independent auditor. • General mandates were granted to issue up to 20% of share capital, repurchase up to 10%, and extend the issue mandate by the amount repurchased.
Board attendance consisted of five directors joining electronically and one attending in person. The company emphasized efforts to identify a qualified INED and will provide further updates as appropriate.
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