IB Digital Tech (International Business Digital Technology Limited) has dispatched its 2026 annual general meeting (AGM) circular, outlining three core proposals to be tabled on 22 May 2026 at 11:00 a.m. in Hong Kong.
Key resolutions: 1. Share capital mandates • Issue Mandate: Directors request authority to allot and issue up to 20% of the issued share capital as at the AGM date—equivalent to a maximum of 160.00 million new shares, based on 800.00 million shares outstanding at the latest practicable date (15 April 2026). • Repurchase Mandate: Board seeks approval to buy back up to 10% of issued shares (up to 80.00 million shares). • Extension Mandate: Any shares repurchased under the Repurchase Mandate may be added to the Issue Mandate capacity.
2. Board composition • Independent non-executive directors (INEDs) Mr Yeung Man Simon and Ms Ru Tingting will retire by rotation and stand for re-election. • Both INEDs have three-year appointments (commenced 7 April 2022) with monthly remuneration of HK$30,000 each. The Nomination Committee confirms their independence and recommends their re-appointment.
3. Auditor re-appointment • The Board proposes re-appointing Ernst & Young as external auditor for the ensuing year, with remuneration to be determined by directors.
Shareholder structure implications: • Controlling shareholder Mr Du Li, together with his controlled entities, holds 479.11 million shares (59.89%). Full exercise of the 10% buy-back would raise this interest to 66.54%, still below the threshold that would trigger a mandatory general offer under the Takeovers Code.
Timetable and administrative details: • Register of Members closes from 19 May to 22 May 2026 (both days inclusive). • Share transfers for AGM eligibility must be lodged by 4:30 p.m. on 18 May 2026 with Tricor Investor Services Limited. • Proxy forms must reach Tricor no later than 11:00 a.m. on 20 May 2026. • All AGM resolutions will be decided by poll.
Board recommendation: Directors believe the proposed mandates and director re-elections align with corporate and shareholder interests and recommend voting in favour of all resolutions.