Global Pacific Shipping to hold EGM on share issuance, board changes

Global Pacific Shipping JSC (HNX:PCT) is set to convene an Extraordinary General Meeting (EGM) on October 27, 2025, in Ho Chi Minh City to deliberate on several crucial proposals. The agenda includes approving the cessation of a previous plan to offer additional shares to existing shareholders. Instead, the company plans to proceed with a private placement of 30,000,000 common shares at VND10,000 per share, aiming to raise VND300,000,000,000. The proceeds from this issuance are primarily intended to repay bank loans.

Shareholders will also vote on a change to the company's registered address, a temporary deferral of the 2024 stock dividend payment, and updates to the company's charter and internal governance regulations. Additionally, the EGM will address the resignation of Vo Ngoc Phung from the board of directors and Nguyen Thi Xuan Thuy from the supervisory board, with subsequent elections to fill these vacancies. The board proposes electing two new directors and one new supervisory board member for the 2023-2028 term.

The meeting will establish rules for cumulative voting in the elections, ensuring that each shareholder can allocate their total voting shares across candidates for the board of directors and supervisory board.