Pa Shun International Holdings Ltd. (PASHUN INT’L) disclosed that its board received a requisition notice on 28 April 2026 from HKSCC Nominees Ltd., acting for beneficial owners Lai Wing Lun and Arab Osman Mohammed. The duo controls 753.04 million shares, equal to approximately 51.05% of the company’s issued share capital with voting rights.

The shareholders request an extraordinary general meeting (EGM) under Article 58 of the company’s Articles of Association to vote on 12 ordinary resolutions. Key proposals include:

1. Removal of five incumbent directors: • Executive Director Ma Qinghai • Non-Executive Directors Chen Zhongzheng and Zhou Jinkai • Independent Non-Executive Directors Dr Lowe Chun Yip and Wong Tung Yuen

2. Automatic removal of any directors appointed between 27 April 2026 and the EGM date (unless appointed at the EGM).

3. Adjustment of the board size: first, capping directors at the sum of current members plus proposed appointees; second, resetting the cap at the conclusion of the EGM based on the number of approved directors.

4. Appointment of three new directors: • Zhou Jianqiao as Non-Executive Director • Yeung Ching Ching as Independent Non-Executive Director • Lee Yin Sing as Independent Non-Executive Director

5. Authorization for the board to set directors’ remuneration.

In accordance with the Articles, the EGM must be convened within two months of the 27 April requisition date. The current board is obtaining legal advice before determining the next steps.

Pa Shun cautioned shareholders and potential investors to exercise prudence when dealing in the company’s shares.