DevGreat to Seek Fresh Issue & Buy-back Mandates, Re-elect Directors at 23 June AGM

Bulletin Express
May 22

DevGreat Group Limited has issued a circular convening its Annual General Meeting for 23 June 2026 in Hong Kong, where shareholders will vote on several key resolutions.

Key proposals include:

1. Capital Mandates • A new 20 % general mandate to issue up to 35.71 million shares, based on the current issued share capital of 178.55 million shares. • A new 10 % share-repurchase mandate, allowing buy-backs of up to 17.86 million shares. • An extension mechanism permitting the issue mandate to be enlarged by the number of shares actually repurchased under the buy-back mandate.

2. Board Composition • Re-election of Executive Director Pi Minjie and Independent Non-Executive Directors Dr Guan Huanfei and Wang Yuzhou. All three are subject to retirement by rotation under the bye-laws and offer themselves for re-election.

3. Auditor Appointment • Re-appointment of PKF Hong Kong Limited as external auditor for the year ending 31 December 2026, with an estimated audit fee of HK$0.70–0.85 million.

4. Share Capital & Major Shareholder • Total issued share capital stands at 178.55 million shares of HK$0.02 par value. • Nantong Sanjian Holding (HK) Co., Limited holds 44.62 million shares, or 24.99 % of the company. If the full repurchase mandate is exercised, its stake would rise to approximately 27.77 %, still below the Hong Kong Takeovers Code’s mandatory-offer threshold.

Administrative details: the share register will be closed from 17 June to 23 June 2026 (both days inclusive). Proxy forms must be lodged by 2:30 p.m. on 21 June 2026. All resolutions will be decided by poll.

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.

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