Xinhua News Media Reaches Agreement With Shareholder on Board Composition; Shares Drop 5%

MT Newswires Live

02/04

Xinhua News Media (HKG:0309) reached a settlement with a shareholder over the company's board composition, according to a Hong Kong bourse filing Tuesday.

Shares of the cleaning company gained over 5% in morning trade Wednesday.

As part of the settlement, Lin Shuang, Chan Frank Clifford Shiu Ting Chu, Yuen Ka Tai, and Mui Kay Boon were appointed to the company's board as originally proposed by the shareholder in 2025.

Meanwhile, Cheung Kin Wa and Fong Man Julisa resigned from the board after being elected as directors at an earlier shareholders' meeting.

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