9R Limited AGM 2025: Unanimous Approval of Key Resolutions Signals Shareholder Confidence and Strategic Flexibility

Key Points from the 2025 Annual General Meeting

• All Resolutions Passed with 100% Support: Every resolution proposed at the AGM received unanimous approval, reflecting strong shareholder confidence in the board and company direction.
• Re-election of Key Directors: The Independent Non-Executive Chairman Datuk Low Kim Leng, Independent Non-Executive Director Mr Tan Tian Wooi, and Non-Executive Non-Independent Director Mr Lim Jun Hao were all re-elected, ensuring continued leadership stability.
• Directors’ Fees Set for FY2026: Directors’ fees of S\$184,500 were approved for the upcoming financial period, signaling transparency and alignment on compensation.
• Auditor Re-appointment: Messrs Forvis Mazars LLP will continue as the Company’s auditors, supporting continuity in financial oversight and reporting.
• Share Issuance Authority Renewed: The AGM granted the board broad authority to allot and issue shares, including via rights, bonus issues, or convertible instruments, giving management strategic flexibility for future capital raising or expansion.
• Share Buyback Mandate Renewed: The board received renewed authority to repurchase up to 10% of issued shares, providing a mechanism to support share prices or return capital to shareholders.

Important Information for Shareholders

The 2025 AGM of 9R Limited was notable for the complete alignment between management and shareholders, as evidenced by 100% support for all eight resolutions. This outcome is a strong signal of investor confidence and could be viewed positively by the market.

Among the most potentially price-sensitive developments:

• Share Issuance Flexibility: The directors now have the authority to issue up to 100% of the company’s share capital, with up to 50% on a non-pro-rata basis. This means the company can quickly raise funds for expansion, acquisitions, or other strategic moves. While this flexibility is generally positive for growth, investors should monitor for potential dilution if new shares are issued without a commensurate increase in underlying value.
• Share Buyback Mandate: The renewed buyback mandate allows the company to purchase up to 10% of its shares, either on-market or off-market, at maximum prices of 105% (market purchases) or 120% (off-market purchases) of the average closing price. Buybacks can support the share price or improve earnings per share, but execution details will be crucial for impact.

Detailed Breakdown of Resolutions

1. Adoption of Financial Statements: The financials for the year ended 31 March 2025 were adopted without opposition, confirming confidence in the company’s reporting and performance.
2. Re-election of Directors: Datuk Low Kim Leng, Mr Tan Tian Wooi, and Mr Lim Jun Hao were all re-elected, ensuring continuity in board leadership. All were deemed independent (except Mr Lim Jun Hao), aligning with SGX Catalist rules.
3. Directors’ Fees Approved: The S\$184,500 fee for FY2026 was passed, maintaining transparency in compensation.
4. Auditor Re-appointment: Messrs Forvis Mazars LLP will remain as auditors, preserving continuity in financial oversight.
5. Share Issuance Authority: Directors can now issue shares or related instruments up to 100% of the issued share capital, with 50% allowed on a non-pro-rata basis. This broad mandate gives management a powerful tool for future capital management and strategic moves.
6. Share Buyback Mandate: Up to 10% of issued shares can be repurchased, providing a lever for capital return or price support. Purchases can be made at up to 105% of the average closing price (market) or 120% (off-market).

Poll Results and Shareholder Sentiment

Each resolution received 929,610,660 votes in favor, with zero votes against. This total alignment underscores both board credibility and shareholder satisfaction with current strategy and governance.

What Retail Investors Should Watch For

• Potential Share Dilution: The broad share issuance authority allows for substantial fundraising, but could dilute existing shareholders if new shares are issued without value-accretive use of proceeds.
• Buyback Execution: The renewed buyback mandate’s impact will depend on if, when, and how aggressively management acts in the market. Buybacks can signal undervaluation or be used to counteract selloffs, but can also be a sign of limited growth options.
• Leadership Stability: The re-election of three directors and auditor continuity supports ongoing strategic direction, which may be reassuring for long-term investors.

Conclusion

The 2025 AGM of 9R Limited saw highly significant developments, with shareholders unanimously endorsing all board proposals. The expanded share issuance and buyback mandates provide management with powerful capital tools, which could materially affect share price depending on future actions. Investors should monitor company announcements for any capital raising, buyback execution, or strategic moves stemming from these authorities.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult a financial advisor before making any investment decisions regarding 9R Limited.

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