TBEA shareholders approve convertible bond issuance, future plans

TBEA Co., Ltd. announced that its third extraordinary general meeting of shareholders in 2025, held on September 3, 2025, successfully passed all proposed resolutions. A total of 2,589 shareholders and proxies attended the meeting, representing 1,180,153,354 voting shares, which constituted 23.5079% of the company's total voting shares. All resolutions, including those requiring a special resolution, were approved by over two-thirds of the effective voting rights held by attending shareholders.

Key resolutions approved include the company's eligibility to issue convertible corporate bonds to specific investors, the proposed plan for such bonds, and a detailed analysis of the offering. The resolutions also covered the use of proceeds from the offering, measures to mitigate immediate dilution of returns, and related commitments from key stakeholders. All these items received overwhelming support, with a significant majority of votes cast in favor.

Shareholders also approved the company's future three-year shareholder return plan for 2025-2027, the rules for the convertible bondholders' meeting, and waived the requirement for a report on the use of previous fundraising proceeds. The board of directors or authorized individuals were granted full power to handle all matters related to the convertible bond issuance.