Shanghai RAAS proposes board expansion, new shareholder return plan

Shanghai RAAS Blood Products is calling a third extraordinary general meeting for 2025 on December 15 to vote on significant corporate governance changes. The agenda includes revising the company's Articles of Association to increase the board from nine to eleven directors, adding one independent director and one employee representative. These changes necessitate amendments to various internal regulations, including policies on "Shareholder Meeting Rules," "Board Meeting Rules," and "Independent Director Work System."

Additionally, the company will seek approval for its "Shareholder Return Plan for the Next Three Years (2024-2026)," which prioritizes cash dividends and aims for continuous and stable returns. The plan proposes annual cash dividends of at least 10% of distributable profits and cumulative cash dividends of at least 30% over three years. Proposed non-independent director Esther Fages Contel and independent director Chen Yan will be considered for election, pending Shenzhen Stock Exchange approval and shareholder endorsement.