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China Resources and Transportation Group Limited Proposes General Mandate and Repurchase Mandate

Strategic Insights

— 1 min read

China Resources and Transportation Group Limited has announced the introduction of the General Mandate and Repurchase Mandate at its upcoming Annual General Meeting (AGM). The proposed resolutions aim to grant the Directors the authority to allot, issue, and deal with ordinary shares, as well as repurchase shares, up to a certain percentage of the issued shares. The General Mandate will expire at the conclusion of the AGM, and the Directors have no immediate plan to issue shares. The Company has issued a total of 10,644,093,185 shares, and the proposed General Mandate would allow the Company to allot up to 2,128,818,637 shares, including any sale or transfer of treasury shares, prior to the AGM.

Key Takeaways:

  • The proposed General Mandate will grant the Directors the authority to allot, issue, and deal with ordinary shares of up to 20% of the issued shares (excluding treasury shares) at the date of passing the resolution.
  • The General Mandate will expire at the conclusion of the AGM, and the Directors have no immediate plan to issue shares.
  • The proposed Repurchase Mandate will allow the Directors to repurchase Shares up to the extent of the Shares repurchased pursuant to the General Mandate.
  • The Company has issued a total of 10,644,093,185 shares, and the proposed General Mandate would allow the Company to allot up to 2,128,818,637 shares, including any sale or transfer of treasury shares, prior to the AGM.
  • The AGM will also consider the re-election of the retiring Directors, the approval and adoption of the audited financial statements, and the appointment of the incumbent auditors.

Statistics:

  • Total issued shares: 10,644,093,185 (excluding treasury shares)
  • 20% of issued shares: 2,128,818,637 (including any sale or transfer of treasury shares)
  • Maximum number of shares that can be allotted under the General Mandate: 2,128,818,637
  • Number of shares granted under the General Mandate at the annual general meeting in 2025: up to 20% of the issued shares (excluding treasury shares)

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