Net Pacific Holdings Limited Extraordinary General Meeting: Comprehensive Report for Investors

Overview

Net Pacific Holdings Limited (formerly known as Net Pacific Financial Holdings Limited) convened its Extraordinary General Meeting (EGM) on 20 November 2025 at its Singapore headquarters. The meeting was chaired by Chief Executive Officer and Executive Director, Mr Ong Chor Wei @ Alan Ong, with shareholders and directors attending both in person and via electronic conference.

Key Points From the EGM

• Quorum and Attendance: The EGM was declared open with the required quorum present. Directors were introduced to shareholders, with some attending virtually due to geographical or other constraints.
• Notice of Meeting: Shareholders were informed that the Company’s circular and Notice of EGM had been circulated prior to the meeting. These documents included all relevant resolutions and proposals.
• Voting Procedure: In accordance with Regulation 58(A) of the Company’s Constitution, all resolutions were decided by poll. Boardroom Corporate & Advisory Services Pte Ltd was appointed as Polling Agent, and Reliance 3P Advisory Pte. Ltd. as independent scrutineer. Proxy forms were received and verified.

Shareholder Engagement

Shareholders were invited to submit comments, queries, and questions ahead of the meeting. No submissions were received before the deadline, but shareholders could raise questions during the EGM.

Material Resolution: Proposed Change of Company Name

• Special Resolution 1: The central item on the agenda was the proposal to change the Company’s name from “Net Pacific Financial Holdings Limited” to “Net Pacific Holdings Limited.”
• Rationale for Name Change: In response to a shareholder’s query, the Chairman clarified that the Company’s financing, luggage, and golf businesses are operated through separate subsidiaries. The parent company acts as a holding entity. The new name aims to better reflect the diversified nature of the Group’s operations.
• Voting Results: The resolution received overwhelming support, with 99.84% of shares voting “FOR” (251,752,350 shares) and only 0.16% voting “AGAINST” (398,501 shares). No abstentions were recorded.
• Resolution Passed: The EGM approved the name change. The Board and its directors are authorised to take all necessary actions to implement this resolution, including updating the Company’s Constitution and executing all required documentation.

Potentially Price Sensitive Matters for Shareholders

• Corporate Rebranding: The change in the Company’s name signifies a strategic shift and could signal a broader focus beyond financial services. This rebranding may affect market perception, investor confidence, and could potentially be a catalyst for future business developments.
• Business Diversification: The explicit confirmation that the Company’s businesses (financing, luggage, golf) are managed via individual subsidiaries under a holding structure is important for shareholders to understand the Group’s operational model. This diversification may influence future earnings, risk profile, and market valuation.
• Shareholder Approval: The near-unanimous support for the resolution reflects strong shareholder confidence in the Board’s direction, which may positively influence share price and investor sentiment.
• Transparency and Governance: The Company’s commitment to publish the minutes of the EGM on its website and SGXNET within a month post-meeting further enhances transparency and corporate governance standards.

Conclusion

The EGM concluded without any other business raised. The successful passage of the special resolution marks an important milestone for Net Pacific Holdings Limited as it continues its evolution into a multi-business holding company. Investors should monitor any subsequent announcements or strategic developments that may arise from this rebranding, as they could have material impact on the Group’s valuation and prospects.

Disclaimer

This article is based on publicly available minutes of Net Pacific Holdings Limited’s Extraordinary General Meeting held on 20 November 2025. It is intended for informational purposes only and does not constitute financial advice or a recommendation to buy or sell shares in Net Pacific Holdings Limited. Investors are advised to conduct their own research and seek professional advice before making any investment decisions. The views expressed are those of the reporter and do not represent the views of Net Pacific Holdings Limited or any of its affiliates.

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