Hong Kong-listed Raffles Interior Limited (RAFFLESINTERIOR) disclosed that four shareholders—Mr. Cao Chong, Ms. Fang Man, Mr. Hau Yin Kiu and Ms. Zeng Zhixia—jointly holding about 10.5% of issued shares, delivered a requisition notice dated 26 June 2026 to the company’s Cayman registered office. The notice demands an extraordinary general meeting (EGM) to:

• Remove five of the six incumbent directors, namely Executive Directors Mr. Ding Hing Hui and Ms. Loke Pui San, and Independent Non-executive Directors (INEDs) Mr. Wong Heung Ming Henry, Mr. Chan Chi Keung Alan and Mr. Garnok Cheung. • Remove any director appointed between the notice date and the EGM. • Appoint eight new directors (two executive, five INEDs, one non-executive) and authorise the board to set directors’ remuneration.

The requisition omits biographical and independence information on the nominees, contravening customary Listing Rule disclosures.

Comparison with a prior board-removal bid lodged on 15 June 2026 by Han Vision Holding Limited, controlled by suspended Executive Director and controlling shareholder Mr. Zheng Nenghuan, shows substantial overlap: 10 of the 15 proposed resolutions, and several nominee names, are identical. The company highlights this similarity as evidence of coordinated action among Mr. Zheng, Han Vision, the current requisitionists and other parties.

Management also flags possible breaches of Hong Kong’s Takeovers and Mergers Code and disclosure-of-interest requirements. A 29 April 2026 complaint letter alleged “special deals with favourable conditions” between Mr. Zheng and potential substantial shareholder Mr. Cao Chengpeng. Mr. Cao is said to act in concert with three other investors holding 4.90%, 4.80% and 4.50% stakes, respectively; one of the new director nominees, Ms. Zheng Hanchen, is believed to be Mr. Zheng’s daughter.

The board warns that the latest requisition could undermine Court of Appeal orders that have stayed shareholder meetings until a 2 September 2026 hearing on the company’s bid to appeal earlier rulings. It also cautions that board disruption may impede completion of an ongoing independent forensic investigation, internal control review and outstanding financial audits—key conditions in the Stock Exchange’s resumption guidance. Failure to satisfy these requirements by September 2027 could trigger delisting.

Planned responses include:

1. Reporting the matter and identified irregularities to the HKEX. 2. Formally advising the requisitionists that their demand may render the pending appeal moot. 3. Seeking relief from the Grand Court or Court of Appeal, potentially joining the requisitionists to existing proceedings. 4. Continuing the independent investigations and financial reporting workstreams. 5. Assessing whether the requisitionists are connected to the alleged special-deal parties. 6. Preserving the independence of the Independent Board Committee and Audit Committee.

Trading in RAFFLESINTERIOR shares has been suspended since 1 April 2026 and will remain halted until the resumption conditions are met. As of 23 July 2026, the board comprises Executive Directors Mr. Ding Hing Hui (Chairman), Ms. Loke Pui San and Mr. Zheng Nenghuan (duties suspended), and INEDs Mr. Wong Heung Ming Henry, Mr. Chan Chi Keung Alan and Mr. Garnok Cheung.