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ABLE ENGINEERING HOLDINGS LIMITED Proposes New Issue and Buy-back Mandates at Upcoming AGM

Strategic Insights

— 1 min read

Hong Kong-based Able Engineering Holdings Limited has announced its intention to seek shareholder approval for the renewal of its general mandates to allot, issue, and deal with additional shares, as well as to buy back fully-paid-up shares. The proposed resolutions, which will be put to a vote at the company's upcoming annual general meeting (AGM) on August 28, 2025, aim to grant the directors the authority to exercise powers related to the issuance of up to 20% of the total number of shares in issue and the purchase of up to 10% of the total number of shares in issue. The renewed mandates would enable the directors to issue additional shares to facilitate the buy-back of existing shares.

Key Takeaways:

  • The proposed New Issue Mandate would grant the directors authority to allot, issue, and deal with up to 20% of the total number of shares in issue.
  • The proposed New Buy-back Mandate would grant the directors authority to buy back up to 10% of the total number of shares in issue.
  • The existing general mandates for the issuance of 400 million new shares and the purchase of 200 million shares will expire upon conclusion of the AGM.
  • Shareholders will be asked to vote on the renewal of these mandates at the upcoming AGM on August 28, 2025.
  • The company plans to issue up to 400 million new shares, which represents 20% of the total number of shares in issue, under the New Issue Mandate.
  • The New Buy-back Mandate would allow the directors to purchase up to 200 million shares, which represents 10% of the total number of shares in issue.

Statistics:

  • Total number of shares in issue as at August 29, 2024: N/A
  • Total number of shares that can be allotted under the New Issue Mandate: up to 20% of the total number of shares in issue
  • Total number of shares that can be bought back under the New Buy-back Mandate: up to 10% of the total number of shares in issue
  • Maximum number of new shares that can be issued under the New Issue Mandate: 400 million
  • Maximum number of shares that can be bought back under the New Buy-back Mandate: 200 million

Sources:

  • Able Engineering Holdings Limited circular issued on July 25, 2025

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