TYK Medicines to Seek 20% Share Issue Mandate, RMB300 Million Bank Lines and No-Dividend Plan at 23 June AGM

Bulletin Express
05/22

TYK Medicines, Inc. (TYK Medicines) released its 2025 AGM circular dated 22 May 2026, detailing resolutions to be tabled on 23 June 2026 in Shanghai.

Financial Reporting and Dividend • The audited financial statements and directors’ report for 2025 will be presented for approval. • The board proposes no final dividend, citing the absence of distributable profit as at year-end 2025.

Auditor Re-appointment • Ernst & Young is recommended for re-appointment for 2026. • Audit fees are estimated at RMB2.20 million–RMB2.88 million.

Director Remuneration • Independent non-executive directors are slated to receive RMB12,000 per month (RMB144,000 per annum) in 2026; other directors will not receive board fees.

Board Changes • Independent non-executive director Mr. Jiang Xiaolin (aged 61) stands for re-election. He joined the board in December 2025 and currently chairs the Audit Committee.

Capital Mandates • Share Issue Mandate: authority to issue up to 20% of issued shares (excluding any treasury shares) until the next AGM. • Share Repurchase Mandate: authority to buy back up to 10% of issued H shares, subject to PRC regulations.

Banking Facilities • The company and wholly owned subsidiary Shanghai TYK intend to secure aggregate credit lines not exceeding RMB300 million for 2026—RMB200 million for the parent and RMB100 million for the subsidiary—with mutual guarantees within the same cap.

Articles of Association Amendments Proposed changes include provisions for hybrid shareholders’ meetings, electronic voting, and updated terms of reference for the Audit, Nomination, and Remuneration & Appraisal Committees.

Meeting Logistics • Register of H shareholders closes 17–23 June 2026. • Proxy forms must reach Computershare Hong Kong Investor Services by 2:00 p.m. on 22 June 2026.

All resolutions will be decided by poll at the AGM.

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