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Telecom Service One Holdings Limited Seeks Shareholder Approval for Share Issuance and Repurchase

Strategic Insights

— 1 min read

Shareholders of Telecom Service One Holdings Limited have voted to pass resolutions granting the company's directors the authority to issue new shares and repurchase existing ones. The existing mandates, which allowed for the same actions, will lapse at the conclusion of the annual general meeting (AGM) held on September 20, 2024. To maintain flexibility, the company is seeking to renew these general mandates. This circular provides information on the resolutions to be proposed at the AGM, including the renewal of the mandates, the re-election of directors, proposed amendments to the company's memorandum and articles of association, and the notice of the AGM.

Key Takeaways:

  • The company's existing mandates to issue and repurchase shares will lapse at the conclusion of the AGM, necessitating the renewal of the general mandates.
  • The proposed issue mandate would allow the directors to issue a maximum of 25,668,400 shares, representing 20% of the total number of shares in issue (excluding treasury shares), as at the date of passing the resolution.
  • The proposed repurchase mandate would permit the directors to repurchase up to 10% of the total number of shares in issue, as at the date of passing the resolution.
  • The company had 128,342,000 shares in issue (excluding treasury shares) as of the latest practicable date.
  • The resolutions were passed at the annual general meeting of the company held on September 20, 2024.
  • The renewal of the general mandates is necessary to maintain flexibility in the company's capital structure.
  • The proposed amendments to the Memorandum and Articles of Association will be put to a vote at the AGM.

Statistics:

  • 128,342,000 shares were in issue (excluding treasury shares) as at the latest practicable date.
  • A maximum of 25,668,400 shares can be issued under the proposed Issue Mandate.
  • Up to 10% of the total number of shares in issue can be repurchased under the proposed Repurchase Mandate.

Sources:

  • Announcement by Telecom Service One Holdings Limited dated 15 August 2025 (Year: 2025, Month: 08, Day: 15)

Ref: https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0815/2025081501041.pdf

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