MYP Ltd AGM 2025: Major Resolutions Passed, No Share Buy-back Plans, & New Share Issuance Authority Granted

Singapore, 25 July 2025 – In a significant update for shareholders and market watchers, MYP Ltd. held its Annual General Meeting (AGM) at MYP Centre, where several key resolutions were discussed and passed. The AGM, attended by the Board of Directors and company officers, offered important insights into the company’s strategic direction, governance, and capital management plans for the year ahead.

Key Highlights for Investors

• All Resolutions Passed by Overwhelming Majority: All six proposed resolutions, including adoption of financial statements, approval of directors’ fees, re-elections, auditor re-appointment, and a mandate to issue new shares, were passed with near-unanimous support.
• No Share Buy-back Plans: The Board confirmed that there are currently no intentions to initiate a share buy-back programme, which may disappoint shareholders hoping for a near-term exit or capital return.
• Authority to Issue New Shares Granted: The Board now has fresh authority to issue new shares and convertible instruments, up to 50% of current share capital (20% non-pro-rata), which could impact share dilution and future fundraising activities.
• Directors’ Fees & Auditor Re-appointment: Directors’ fees of S\$290,000 for FY2025 and the re-appointment of Foo Kon Tan LLP as Auditors were approved.

Detailed AGM Proceedings and Decisions

The meeting, chaired by Executive Chairman and CEO Mr Jonathan Tahir, confirmed the presence of a quorum and began with the introduction of the Board and key company officers. The official notice of the meeting was taken as read.

Shareholder Q&A: Share Buy-back Not on the Horizon

Before formal proceedings, shareholders were invited to raise questions. The only substantial query was whether MYP Ltd. would consider a share buy-back to provide an exit for minority shareholders. The Chairman categorically stated that there are no such plans in the near future. This announcement is important for investors as share buy-backs can often provide price support or a premium exit opportunity. The company did, however, take note of a comment regarding greater transparency on director nominee bank holdings.

Voting and Poll Results

All resolutions were voted on by poll, with Tricor Barbinder Share Registration Services as Poll Counting Agent and Entrust Advisory Pte. Ltd. as Independent Scrutineer. The results were as follows:

• Resolution 1: Adoption of audited financials for FY ended 31 March 2025 – Passed with 99.9985% approval.
• Resolution 2: Approval of directors’ fees (S\$290,000) – Passed with 99.9908% approval.
• Resolution 3: Re-election of Mr Jonathan Tahir as Director – Passed with 99.9985% approval.
• Resolution 4: Re-election of Dr Clement Wang Kai as Director – Passed with 99.9985% approval.
• Resolution 5: Re-appointment of Foo Kon Tan LLP as Auditors – Passed with 99.9989% approval.
• Resolution 6 (Special Business): Authority for Directors to issue and allot new shares and convertible instruments – Passed with 99.9979% approval.

What Does the New Share Issuance Authority Mean for Investors?

The most potentially price-sensitive resolution is the authority for Directors to issue new shares and convertible instruments (such as warrants and debentures) up to 50% of the current issued shares, with up to 20% allowed for non-pro-rata issuances. This could have material implications for:

• Shareholder Dilution: If exercised, issuing new shares could dilute existing shareholders’ stakes.
• Capital Raising Flexibility: The Board now has significant flexibility to raise capital for acquisitions, expansion, or other corporate needs without needing to call another general meeting.
• Potential Volatility: The market may react to any subsequent announcement of share placements, rights issues, or convertible securities, as these typically impact share prices and equity value.

The company assured shareholders that any such future exercises will comply with Singapore Exchange rules and the Companies Act.

No Other Business Raised

No further business was brought up by shareholders. The meeting concluded at 4:00 p.m. with thanks from the Chairman.

Investor Takeaways

• Shareholders should monitor for any announcement regarding new share issuance, as it could impact share price and dilution.
• No share buy-back means minority shareholders will not have an immediate liquidity exit via the company.
• Company governance and transparency remain in focus, with suggestions for improved disclosure on director shareholdings.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Retail investors should conduct their own research or consult a financial advisor before making investment decisions. The above summary is based on the minutes of MYP Ltd’s AGM on 25 July 2025 and may not include all material facts. Market conditions and company plans may change without notice.

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