Coastal GL AGM: Shareholders Reject Two Board Re-elections, Pass All Other Resolutions

Bulletin Express
Sep 11

Coastal Greenland Limited (Coastal GL) announced that its Annual General Meeting on 11 September 2026 approved all agenda items except the proposed re-elections of non-executive directors Qiu Guizhong and Zhou Xiya.

A total of 414.60 million shares were eligible to vote. Tricor Investor Services acted as scrutineer.

1. Financial statements for the year ended 31 March 2026 were adopted with 99.99 % support (218.27 million votes in favour). 2. Director matters • Executive director Jiang Ming was re-elected with 99.99 % approval. • Re-elections of non-executive directors Qiu Guizhong and Zhou Xiya were rejected, receiving only 29.15 % support (63.12 million votes in favour and 153.42 million against). Both ceased to hold office effective immediately. • The Board was authorised to fix directors’ remuneration with 99.99 % approval. 3. Prism Hong Kong Limited was re-appointed as auditor, also receiving 99.99 % support. 4. Shareholder mandates • General mandate to repurchase shares: 99.99 % approval (218.27 million votes). • General mandate to allot and issue new shares: 99.99 % approval (218.26 million votes). • Extension of the issue mandate to include repurchased shares: 99.99 % approval (218.26 million votes).

All approved items required a simple majority and met that threshold; the two failed board re-elections fell below 50 %. The current board now comprises executive directors Jiang Ming and Lin Chen Hsin, with independent non-executive directors Wong Kai Cheong, Yang Jiangang and Huang Xihua.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10