PCCW Limited (0008) resolved on 13 November 2025 to issue 287,792 new shares under the general mandate granted at the AGM held on 15 May 2025. The new shares will be allotted to Computershare Hong Kong Trustees Limited as trustee for the satisfaction of awards granted to certain employees before the 2024 AGM, pursuant to the PCCW Subscription Scheme.

According to the announcement, the maximum number of shares that may be allotted under the general mandate is 1,548,212,674, while the total new shares to be issued only account for roughly 0.0037% of PCCW’s issued share capital both before and after the allotment. The company will fund the trustee’s subscription at an aggregate cost of HK$2,877.92 (one HK cent per share). Upon allotment, the trustee will hold the shares on trust for the selected employees, who will receive the shares at no cost upon meeting the relevant vesting conditions.

The trustee is an independent party, and none of the employees involved is a director or substantial shareholder of PCCW. The newly issued shares rank pari passu with existing shares in all respects. PCCW will apply to the Stock Exchange for approval of the listing of, and permission to deal in, the 287,792 new shares, and the issuance requires no further shareholder approvals.