Hengdeli Holdings Ltd. has issued a circular convening its Annual General Meeting (AGM) for 11:00 a.m. on 15 May 2026 at the Marco Polo Hongkong Hotel. Key items to be put before shareholders are as follows:
• Capital mandates – Issue Mandate: Directors are seeking authority to allot and issue up to 880.80 million new shares, equal to 20 % of the 4.40 billion shares in issue (excluding any treasury shares) as at the Latest Practicable Date of 11 April 2026. – Repurchase Mandate: The Board also requests approval to repurchase up to 440.40 million shares, representing 10 % of the issued share capital (excluding treasury shares). – Extension Mandate: The number of shares bought back under the Repurchase Mandate may, subject to approval, be added to the Issue Mandate, effectively raising potential issuance capacity by a further 10 %.
• Director re-elections Non-executive Director Shi Zhongyang and Independent Non-executive Director Cai Jianmin will retire by rotation and stand for re-election. Despite serving more than nine years, Cai has been assessed by the Board and Nomination Committee as independent under Listing Rule 3.13.
• Shareholding structure and Takeovers Code implications Chairman and CEO Cheung Wing Lun Tony is deemed interested in 2.36 billion shares (53.61 %), held through Empire Charm Ltd. His mother, Fung Ka Kiu Ann, holds 748.90 million shares (17.00 %). Acting in concert, their combined stake is 70.61 %. Full utilisation of the Repurchase Mandate would lift their aggregate interest to 78.46 %, still maintaining the required 25 % public float.
• Financial impact and funding Repurchases will be financed from distributable profits, new share proceeds or paid-up capital, in line with Cayman Islands law. The Board states that any buy-backs will not materially impair working capital or gearing.
• Share price reference Over the 12 months to March 2026, Hengdeli traded between HK$0.091 and HK$0.203.
• Administrative details Shareholders must lodge transfer documents by 4:30 p.m. on 11 May 2026 to qualify for AGM attendance. Proxy forms must be submitted by 13 May 2026 at 11:00 a.m. All AGM resolutions will be decided by poll, with results published after the meeting.
Comments