New World Development Company Limited (New World Dev) has announced a board-approved proposal to replace its existing Articles of Association with a new set designed to bring the company’s constitutional framework fully in line with recent regulatory changes in Hong Kong.

The key amendments focus on four areas:

1. Alignment with the amended Companies Ordinance (Cap. 622), introducing a treasury-share regime and an implied-consent mechanism that allows corporate communications to be disseminated via the company’s website.

2. Compliance with the latest Listing Rules on paperless listing, enabling shareholders to attend hybrid or virtual general meetings, cast votes electronically, submit proxy instructions online and receive corporate-action proceeds such as dividends through electronic payment channels.

3. Preparation for Hong Kong’s forthcoming uncertificated securities market regime, including provisions that let shareholders hold and manage securities in electronic (uncertificated) form pursuant to the Securities and Futures (Uncertificated Securities Market) Rules (Cap. 571AS) and related legislation.

4. Additional housekeeping and consequential updates to ensure consistency across the company’s constitutional documents.

The adoption of the new Articles will be put to shareholders as a special resolution at New World Dev’s annual general meeting scheduled for 19 November 2026. A detailed circular outlining all proposed changes, together with the AGM notice, will be dispatched to shareholders in due course.

As of the announcement date (30 September 2026), the board comprises eight executive directors, four non-executive directors and six independent non-executive directors. The proposal requires shareholder approval before it can take effect.