ALPHA PRO HLDGS (Alpha Professional Holdings) will seek shareholder approval on 13 November 2026 for two inter-conditional tenancy agreements signed on 23 September 2026 between its wholly-owned unit San Tai Distribution and San Pack Properties, a wholly-owned subsidiary of Allied Group.

• Scope of leases – Tenancy Agreement I: Entire 7/F-12/F and 20/F of Allied Cargo Centre, Tsuen Wan, plus three lorry and three car parking spaces, totalling 144,620 sq ft. – Tenancy Agreement II: Cubicles 11–17 on 13/F, totalling 10,631 sq ft.

• Key terms (both start 1 Oct 2026, end 30 Sep 2028) – TA I rent: HK$1.37 million/month (Year 1) rising to HK$1.45 million (Year 2) plus HK$10,800/month for parking. Aggregate rent HK$34.10 million, inclusive of management fees, exclusive of rates. – TA II rent: HK$0.10 million/month (Year 1) rising to HK$0.11 million (Year 2). Aggregate rent HK$2.49 million, inclusive of management fees and rates. – Combined rental commitment: HK$36.59 million over two years, funded by internal resources.

• Accounting impact (IFRS 16) – Immediate recognition of right-of-use assets and corresponding lease liabilities: HK$35.21 million. – Monthly depreciation: ~HK$1.47 million over 24 months. – Total finance cost over lease term: ~HK$1.38 million.

• Rationale – Premises house the Group’s bonded and general warehouse logistics operations. Renewing avoids relocation, reinstatement and fit-out costs, maintains service continuity, and preserves customer relationships. – Agreed rents match previous lease levels and sit within the HK$8.8–14.9 per sq ft range observed in comparable Tsuen Wan industrial buildings.

• Listing Rules classification – Present value of lease payments equals ~HK$35.21 million, exceeding 25% asset ratio; therefore the deal is a Major Transaction requiring shareholder approval.

• Voting mechanics – Special General Meeting (SGM): 13 Nov 2026, 3:00 p.m., Hong Kong. – Register of members closed 10–13 Nov 2026 (both days inclusive). – Universal Way (8.49% stake, linked to landlord’s parent Allied Group) will abstain. – Well Dynasty (46.82%) and Vigor Online Offshore (3.40%) have irrevocably committed to vote in favour, together holding 50.22% of issued shares.

If not approved, the leases lapse and Alpha would seek alternative premises, but directors deem rejection unlikely given voting undertakings.