Palinda Group secures shareholder approval for capital reorganisation and board-lot change

Bulletin Express
10/02

Palinda Group Holdings Limited announced that shareholders overwhelmingly approved both resolutions tabled at the 2 October 2026 Extraordinary General Meeting (EGM), paving the way for a comprehensive capital reorganisation and a change in board-lot size.

Key EGM outcomes • Shareholder turnout: 1.91 billion existing shares were eligible to vote. • Ordinary Resolution 1 (capital reorganisation): 765.81 million votes in favour (97.95%); 16.03 million against (2.05%). • Special Resolution 2 (board-lot size change and related matters): identical voting pattern, with 97.95% support. • Both thresholds met—over 50% for the ordinary resolution and over 75% for the special resolution—so both resolutions were duly passed by poll.

Regulatory and procedural status • No shares were subject to compulsory abstention or had rights to attend but abstain in favour; no shareholders declared an intention to oppose. • Union Registrars Limited acted as independent scrutineer. • All directors attended the EGM in person or via electronic means, meeting GEM Listing Rule 17.47(5A).

Next steps and expected timetable Despite approval, the capital reorganisation—which includes share consolidation, capital reduction and share sub-division—remains contingent on several conditions: 1. Directors’ solvency statement in accordance with the Cayman Islands Companies Act. 2. Registration of the solvency statement and required particulars with the Cayman Islands Registrar of Companies. 3. Listing Committee approval for the new shares arising from the capital reduction and share sub-division. 4. Compliance with all relevant Cayman Islands laws and GEM Listing Rules.

Assuming these conditions are satisfied, Palinda Group expects the capital reorganisation and the accompanying change in board-lot size to take effect at 9:00 a.m. on 13 November 2026. The company will issue further announcements detailing the effective date, share-certificate exchange arrangements and odd-lot matching services.

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