Poly Developments overhauls governance for shareholder returns

Poly Developments and Holdings Group announced significant governance reforms, including the cancellation of its Supervisory Board, with related functions transferring to the Audit Committee. The proposed changes also include revisions to the company's Articles of Association and various internal policies, all effective upon shareholder approval at the upcoming 2025 Fifth Extraordinary General Meeting on December 8, 2025. These revisions span dividend management, related party transactions, fundraising, and shareholding policies for directors and senior management, underscoring a commitment to enhanced investor returns and transparent operations.

The updated dividend management system emphasizes continuous and stable returns, requiring cash dividends to be at least 30% of the average distributable profits over the past three years. The revised Articles of Association reflect these changes, alongside adjustments to the responsibilities of directors and senior management. Furthermore, the company will implement new management policies for information disclosure and insider trading, ensuring stricter compliance.

Key changes also include updated rules for managing shareholdings of directors and senior management, with restrictions on share transfers and disclosure requirements for trading plans. The overall initiative aims to streamline corporate governance, improve operational efficiency, and align with the latest regulatory standards.