Hong Kong: JH Educational Technology INC. AGM Circular Issued

JH Educational Technology INC., a company listed in Hong Kong, has issued a circular to its shareholders ahead of its upcoming Annual General Meeting (AGM). The circular outlines several key resolutions that will be proposed for vote, including the grant of a general mandate to the directors to issue and deal with shares, the re-election of retiring directors, and the proposed declaration and payment of dividends.

Key Takeaways:

• The circular proposes the grant of a general unconditional mandate to the directors to allot, issue, and deal with shares not exceeding 20% of the aggregate number of shares in issue immediately following the completion of the capitalization issue and the global offering.
• The directors will be authorized to issue up to 320,166,000 shares under the general mandate, based on 1,600,830,000 shares in issue as at the latest practicable date.
• A separate resolution will be proposed to grant the Repurchase Mandate to the directors to exercise all powers of the Company to repurchase issued shares subject to certain criteria.
• Under the Repurchase Mandate, the Company may repurchase a maximum of 160,083,000 shares, being 10% of the entire issued share capital of the Company as at the date of passing of the resolution.
• The Repurchase Mandate will end on the earliest of the date of the next annual general meeting, the date by which the next annual general meeting of the Company is required to be held by the Articles, or the date upon which such authority is revoked or varied by an ordinary resolution of the Shareholders at a general meeting of the Company.

Statistics:

• 1,600,830,000 shares in issue as at the latest practicable date.
• Up to 320,166,000 shares may be issued under the general mandate.
• A maximum of 160,083,000 shares may be repurchased under the Repurchase Mandate.

Sources:

• JH Educational Technology INC. AGM Circular (no date).
• Hong Kong Stock Exchange Listing Rules (as referenced in the circular).