Broadway Industrial Group Limited Receives Extension to Convene FY2025 Annual General Meeting

Key Developments

• Extension Granted: Broadway Industrial Group Limited (the “Company”) has received approval from the Accounting and Corporate Regulatory Authority (ACRA) to extend the deadline for its FY2025 Annual General Meeting (AGM) to 29 June 2026.
• Regulatory Backdrop: Under Rule 707(1) of the Singapore Exchange (SGX-ST) Listing Manual and Section 175(1)(a) of the Companies Act, the Company was originally required to hold its AGM by 30 April 2026.
• Waiver and Extension: The SGX-ST granted the Company either an extension of one month or a complete waiver from Rule 707(1), subject to certain conditions. Subsequently, the Company sought and received a further 60-day extension from ACRA.

Background and Context

The Company has made several announcements over the past year regarding its compliance with SGX-ST Listing Manual rules, including Rules 723 and 724, which concern continued listing criteria and shareholder distribution. Notably, on 5 December 2025, Broadway Industrial announced a proposed exit offer through selective capital reduction and proposed delisting from the SGX-ST Mainboard.

On 13 January 2026, the Company revealed it had applied for a waiver from Rule 707(1), which mandates listed companies to convene their AGM within four months of the financial year-end. The SGX-ST responded by granting the Company a conditional extension or potential waiver.

Details of the Extension

Following the SGX-ST’s flexibility, Broadway Industrial applied to ACRA under Section 175(2)(a) of the Companies Act for a further extension to hold the FY2025 AGM. The approval was received on 4 February 2026, allowing the Company to hold its AGM by 29 June 2026, effectively granting a 60-day extension beyond the original deadline.

Potential Impact on Shareholders and Share Price

• Price Sensitivity: The extension to hold the AGM may be seen as a sign that the Company is undergoing significant corporate changes, especially in light of the proposed exit offer and delisting. Such regulatory extensions are often associated with ongoing restructuring or major corporate actions, which can be price sensitive.
• Shareholder Decision-Making: Investors should pay close attention to upcoming announcements regarding the proposed capital reduction and delisting, as these may materially affect the value and tradability of their shares.
• Ongoing Compliance: The announcement reassures shareholders that the Company is actively working with regulators to ensure compliance, but also signals that major decisions and potential changes are forthcoming.

Board Assurance

The Board of Broadway Industrial has stated that all reasonable care and due diligence were exercised in the preparation of the announcement. They have confirmed the accuracy and fairness of the information provided, accepting joint and several responsibility for the disclosure.

Cautionary Note to Investors

Shareholders and potential investors are advised to consult their financial advisers, stockbrokers, or solicitors if they have any doubts about actions to take in light of these developments. The regulatory extensions and proposed corporate actions could have significant implications for the future of the Company and its shares.

Disclaimer

This article is prepared for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisers before making any investment decisions relating to Broadway Industrial Group Limited.

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