Playmates Toys Limited has released a formal proposal to amend its existing bye-laws and adopt a new set of second amended and restated bye-laws in anticipation of the Hong Kong Uncertificated Securities Market (USM) regime scheduled to begin phased implementation in 2026.

The move follows the Legislative Council’s approval, on 16 April 2025, of the Securities and Futures (Uncertificated Securities Market) Rules (Cap. 571AS) and related amendments to the Securities and Futures Ordinance. The Hong Kong Stock Exchange (HKEX) also issued an Information Paper in May 2025 outlining consequential Listing Rule changes.

Key points of the company’s proposal are:

• Alignment with new USM Legislation: The revised bye-laws aim to meet statutory and regulatory requirements that will allow shareholders to hold and transfer Playmates Toys’ securities electronically in their own names.

• Compliance with Bermuda Law and Housekeeping Updates: Besides USM-related changes, the draft includes updates to reflect current Bermuda corporate requirements and introduces miscellaneous housekeeping amendments.

• Shareholder Approval Timetable: The amendments require a special resolution at the company’s annual general meeting scheduled for 22 May 2026. If approved, the new bye-laws will take immediate effect.

• Circular Distribution: Detailed documentation of the proposed amendments and the AGM notice will be dispatched to shareholders on 8 April 2026.

Board Composition (as at 8 April 2026): Chairman – Mr. Michael Chan Kwong Fai Executive Directors – Ms. Helen Chan, Mr. Stephen Chan Kong Keung, Mr. Tran Vi-hang William Independent Non-executive Directors – Mr. Charles Ip Shu Wing, Mr. Ambrose Lam Wai Hon, Mr. David Yu Hon To

The announcement, released under HKEX Listing Rule 13.51(1), underscores Playmates Toys’ readiness for the regulatory transition to electronic shareholding while ensuring continued compliance with both Hong Kong and Bermuda governance frameworks.