Ever Glory United Holdings Limited Extraordinary General Meeting: Key Developments and Shareholder Impact

Date of Meeting: 22 December 2025
Venue: 3 Little Road, #02-02, CRF Building, Singapore 536982
Chairman: Mr. Sun Renwang

Key Points from the EGM Minutes

• Transfer of Listing from Catalist Board to Mainboard of SGX-ST
  The EGM sought shareholder approval for a special resolution to transfer Ever Glory United Holdings Limited’s listing from the Catalist Board to the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST). This move signifies the Company’s readiness to meet higher listing standards and potentially increases visibility, liquidity, and investor interest in its shares.
• Adoption of New Share Issue Mandate
  Contingent upon the successful transfer to the Mainboard, shareholders were asked to approve a new share issue mandate, which revokes the previous authority granted at the last AGM. This mandate enables the Board to issue up to 50% of the Company’s issued shares (excluding treasury shares and subsidiary holdings), with up to 20% on a non-pro-rata basis. The flexibility to issue shares through various instruments—including warrants, options, and convertible securities—could support future growth, M&A, and capital raising activities.
• Voting by Poll and Results
  All resolutions were conducted by poll, with scrutiny by independent agents. Both resolutions were passed with overwhelming majority:
  • Resolution 1 (Transfer of Listing): 99.79% voted in favour, 0.21% against.
  • Resolution 2 (New Share Issue Mandate): 97.50% in favour, 2.50% against.
• No Substantial Questions Raised
  No substantial or relevant questions were submitted by shareholders ahead of or during the meeting, indicating broad confidence or acceptance of the proposed resolutions.

Potentially Price-Sensitive Information and Investor Impact

• Transfer to Mainboard: This upgrade may significantly enhance Ever Glory United Holdings Limited’s profile among institutional investors, increase trading liquidity, and make the stock eligible for inclusion in broader market indices. Such changes can positively affect share price and investor demand.
• New Share Issue Mandate: The ability to issue up to 50% of share capital (with 20% on a non-pro-rata basis) gives the Board substantial flexibility for future fundraising and corporate actions. While this can fuel company growth, shareholders should be aware of potential dilution risks should new shares be issued.
• Overwhelming Shareholder Support: The near-unanimous approval for both resolutions may signal strong investor confidence in management and the Company’s strategic direction.
• No Other Business Transacted: The EGM was focused solely on these two resolutions, underscoring their importance to the Company’s immediate strategy.

Details of Resolutions Passed

1. Resolution 1 (Special): Transfer of Listing
   • Approval for the Company to transfer its listing from the Catalist Board to the Mainboard of SGX-ST.
   • Directors empowered to do all acts necessary to effect the transfer.
2. Resolution 2 (Ordinary): New Share Issue Mandate
   • Revocation of prior share issue authority from the last AGM, effective upon transfer to the Mainboard.
   • Empowers Directors to issue shares, options, warrants, debentures, and other convertible instruments up to 50% of issued share capital, with up to 20% on a non-pro-rata basis.
   • Mandate is valid until the next AGM or the date by which the AGM is required to be held.
   • Compliance required with SGX Mainboard listing rules and Singapore Companies Act.

Conclusion

The successful passage of these resolutions marks a transformative moment for Ever Glory United Holdings Limited. The transfer to the SGX Mainboard and the adoption of a new, more flexible share issue mandate position the Company for greater growth opportunities and enhanced market recognition. Investors should monitor upcoming corporate actions and potential capital raisings, as these developments may materially affect the Company’s share price and valuation.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own due diligence and consult a qualified financial advisor before making investment decisions. The author and publisher accept no liability for any losses arising from reliance on this information.

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