Pacific Textiles Holdings Limited will convene its 2026 annual general meeting (AGM) on 13 August 2026 in Hong Kong. Key resolutions include requests for fresh general mandates allowing the Board to issue new shares or sell/transfer any treasury shares and to repurchase shares, each capped at 10% of the company’s issued share capital (excluding any treasury shares) as at the AGM date.
As at the latest practicable date (7 July 2026), Pacific Textiles had 1,386.37 million shares in issue and no treasury shares. The proposed mandates therefore cover up to 138.64 million shares for both issuance and buy-back. A supplementary resolution would extend the issuance mandate by adding back shares actually repurchased under the buy-back authority.
The company repurchased 12.37 million shares in the financial year ended 31 March 2026 and up to early July 2026, including 5.26 million shares in August and December 2025 and 7.11 million shares between 29 June and 7 July 2026, at prices ranging from HK$0.84 to HK$0.92. All repurchased shares have been cancelled; the company currently holds no treasury stock. The Board states it has no intention to exercise the new mandate to a level that would reduce public float below 25% or trigger a mandatory offer under Hong Kong’s Takeovers Code. Major shareholder Toray Industries, Inc. holds 29.24% of issued shares; full exercise of the buy-back mandate would raise this stake to 32.49%, above the 30% offer threshold.
Shareholders will also vote on re-electing Executive Director and CEO Teruo Funahashi, and Independent Non-executive Directors Dr Michael Chan and Ms Teresa Ling. PricewaterhouseCoopers is nominated for re-appointment as auditor. A final dividend for FY 2025/26 will be considered; details have not yet been disclosed.
Shareholders must lodge transfer documents by 7 August 2026 to attend and vote at the AGM. For entitlement to the proposed final dividend, share transfers must be registered by 19 August 2026; the register will be closed from 20–24 August 2026 for this purpose.