Momentum Financial Holdings Limited (Stock Code: 1152) held a special general meeting (SGM) on 10 November 2025 at 11:00 a.m., during which all proposed resolutions in the meeting notice dated 20 October 2025 were passed by poll. Multiple ordinary resolutions, including the approval of settlement agreements, a specific mandate, and a special deal, each attracted 501,375,600 votes in favor and no votes against. A special resolution concerning a whitewash waiver also passed with 100% support based on 501,375,600 shares voted.
According to the announcement, a total of 982,000,000 shares issued as of the SGM date were eligible to vote, though one shareholder with 40,000 shares abstained from voting. No shareholders were required to vote against the resolutions, and no other shareholders were mandated by listing rules to abstain from voting.
The announcement also outlines the potential impacts on the company’s shareholding structure if convertible bonds are issued and fully converted under different scenarios. The largest potential change could arise when multiple creditors convert their holdings, resulting in a total of 3,428,783,836 shares and altering the holdings of various creditor groups and existing shareholders.
The whitewash waiver, granted by the Executive on 7 November 2025, remains subject to conditions including the approval thresholds met at the SGM. The special deal consent has also been granted, contingent on approval by independent shareholders, which has been satisfied. With conditions (ii) and (v) for the debt restructuring now fulfilled, next steps include completion of the settlement agreements and issuance of the convertible bonds once remaining conditions are met.
