DevGreat to Seek Fresh Issue & Buy-back Mandates, Re-elect Directors at 23 June AGM

Bulletin Express
05/22

DevGreat Group Limited has issued a circular convening its Annual General Meeting for 23 June 2026 in Hong Kong, where shareholders will vote on several key resolutions.

Key proposals include:

1. Capital Mandates • A new 20 % general mandate to issue up to 35.71 million shares, based on the current issued share capital of 178.55 million shares. • A new 10 % share-repurchase mandate, allowing buy-backs of up to 17.86 million shares. • An extension mechanism permitting the issue mandate to be enlarged by the number of shares actually repurchased under the buy-back mandate.

2. Board Composition • Re-election of Executive Director Pi Minjie and Independent Non-Executive Directors Dr Guan Huanfei and Wang Yuzhou. All three are subject to retirement by rotation under the bye-laws and offer themselves for re-election.

3. Auditor Appointment • Re-appointment of PKF Hong Kong Limited as external auditor for the year ending 31 December 2026, with an estimated audit fee of HK$0.70–0.85 million.

4. Share Capital & Major Shareholder • Total issued share capital stands at 178.55 million shares of HK$0.02 par value. • Nantong Sanjian Holding (HK) Co., Limited holds 44.62 million shares, or 24.99 % of the company. If the full repurchase mandate is exercised, its stake would rise to approximately 27.77 %, still below the Hong Kong Takeovers Code’s mandatory-offer threshold.

Administrative details: the share register will be closed from 17 June to 23 June 2026 (both days inclusive). Proxy forms must be lodged by 2:30 p.m. on 21 June 2026. All resolutions will be decided by poll.

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