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Kwong Man Kee Group Limited Issues Announcement on Proposed Issue and Repurchase Mandates

Strategic Insights

— 1 min read

Kwong Man Kee Group Limited has issued a circular providing shareholders with information on various proposals, including the extension of the Issue Mandate and the Repurchase Mandate. The Company seeks to grant its directors a new mandate to issue shares worth up to 20% of its aggregate nominal value and to repurchase shares up to 10% of its issued share capital. Shareholders will be voting on these proposals at the upcoming annual general meeting.

Key Takeaways:

  • The proposed Issue Mandate would allow the directors to allot, issue, and deal with up to 119,488,800 shares, representing 20% of the Company's issued share capital.
  • The proposed Repurchase Mandate would permit the Company to repurchase shares worth up to 10% of its issued share capital, totaling 59,722,000 shares.
  • The Issue Mandate would expire at the earliest of the conclusion of the next annual general meeting, the expiration of the period within which the next annual general meeting is required to be held, or the time when the Issue Mandate is revoked or varied by an ordinary resolution.
  • The Company's existing mandate to issue shares will lapse at the conclusion of the annual general meeting unless otherwise renewed.
  • The Repurchase Mandate would allow the Company to repurchase shares during the Relevant Period, which begins at the conclusion of the annual general meeting and expires at the earliest of the aforementioned dates.
  • The explanatory statement required to be sent to shareholders under the GEM Listing Rules is set out in Appendix I of the circular.
  • Shareholders will vote on the proposed resolutions at the upcoming annual general meeting.

Statistics:

  • 597,444,000 shares: the issued share capital of the Company as at the Latest Practicable Date.
  • 119,488,800 shares: the maximum number of shares subject to the proposed Issue Mandate, representing 20% of the aggregate nominal value of the issued share capital.
  • 59,722,000 shares: the maximum number of shares subject to the proposed Repurchase Mandate, representing 10% of the aggregate nominal value of the issued share capital.

Sources:

  • Kwong Man Kee Group Limited - Circular dated [insert date] [https://www1.hkexnews.hk/listedco/listconews/gem/2025/0721/2025072100822.pdf](https://www1.hkexnews.hk/listedco/listconews/gem/2025/0721/2025072100822.pdf)

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