Sandmartin International Holdings Limited (Stock Code: 482) has announced a further delay in the despatch of its circular regarding a proposed Capital Reorganisation and a proposed Rights Issue. According to the new schedule, the circular—previously expected on or before 25 November 2025—will now be released on or before 5 December 2025. The board cites additional time needed to prepare and finalize the relevant content.

Under the revised timetable, Sandmartin’s special general meeting (SGM) to consider these proposals is set for 29 December 2025. Subject to fulfilling conditions for both the Capital Reorganisation and the Rights Issue, the effective date for the Capital Reorganisation is expected to be 2 January 2026, with share dealings under the new structure starting on the same day. Other key dates include the last day for dealings in Adjusted Shares on a cum-rights basis (2 January 2026), the first day of dealings on an ex-rights basis (5 January 2026), and the record date for determining entitlements under the Rights Issue (13 January 2026).

The announcement reminds shareholders that the Capital Reorganisation and the Rights Issue remain conditional on meeting specific requirements, and thus these events may or may not proceed. It also cautions investors over the inherent risks of dealing in Shares and Rights Shares before the proposals become unconditional. Interested parties are advised to review official documentation and consult professional advisers as necessary.