CSPC Pharma proposes share mandates, director re-elections at AGM
CSPC Pharmaceutical Group (HKEX:1093) has announced proposals for general mandates to buy back and issue shares, grant options, and re-elect retiring directors at its annual general meeting on May 30, 2025. Shareholders will vote on granting the board a general mandate to repurchase up to 10% of the company's issued shares. A separate resolution will seek approval for a general mandate to issue new shares, capped at 10% of the issued share capital as of the AGM date, with issuances at a discount not exceeding 10% to the Benchmarked Price. The board has chosen not to extend this mandate by including shares bought back under the buy-back proposal, significantly reducing potential dilution for existing shareholders. The AGM will also address the re-election of executive and independent non-executive directors, including independent director Mr. WANG Bo, whose tenure exceeds nine years; and a mandate to grant share options to directors. Resolutions require vote from shareholders.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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