Richly Field China Development Limited has released its circular for the virtual Annual General Meeting scheduled for 28 August 2026 at 11:00 a.m. via the Vistra eVoting Portal.
Key proposals up for shareholder approval:
1. Share Issuance Mandate • Directors request authority to allot and issue new shares of up to 20% of the company’s issued share capital as at the AGM date. • Based on the 1,166.83 million shares in issue on the latest practicable date (28 July 2026), the mandate would allow issuance of up to 233.37 million new shares. • The mandate will remain effective until the next AGM, revocation by shareholders, or 12 months, whichever is earlier.
2. Share Repurchase Mandate • Board seeks approval to repurchase up to 10% of issued shares, equivalent to a ceiling of 116.68 million shares. • Funding would come from distributable profits or proceeds of new issues; directors do not intend to repurchase to a level that would impair working-capital or reduce public float below 25%. • If fully exercised, controlling shareholder Wang Hua’s indirect stake—currently 59.05% (688.96 million shares)—would rise to 65.61%; directors expect no mandatory offer requirements under the Takeovers Code.
3. Extension of Issuance Mandate • The number of shares bought back under the Repurchase Mandate may be added to the 20% Issue Mandate, potentially raising the total new-issue capacity by a further 10%.
4. Board Composition • Executive Chairman & CEO Xia Chun Hui and Vice President Chen Wei retire by rotation and stand for re-election. • Xia receives annual remuneration of HKD 0.85 million; Chen receives RMB 0.80 million. • The Nomination Committee and Board endorse their re-appointment, citing sector experience and contribution to the Group’s strategy.
5. Other Business • Re-appointment of Rongcheng (Hong Kong) CPA Limited as external auditor. • Shareholders of record on 28 August 2026 may attend and vote. The register closes 25–28 August 2026. • Proxy forms must reach Tricor Investor Services by 26 August 2026, 11:00 a.m.
Shareholders can participate and vote online, with login credentials distributed on 21 August 2026. Completion of a proxy form does not preclude virtual attendance and voting.