AJJ Medtech Holdings Limited EGM: Key Resolutions Unanimously Passed — New Auditor Appointed and Major Share Grant to Controlling Shareholder

Singapore, 7 January 2026 — AJJ Medtech Holdings Limited (“AJJ Medtech” or “the Company”) convened its Extraordinary General Meeting (EGM) at its Singapore headquarters, where several potentially price-sensitive resolutions were unanimously approved by shareholders. The meeting, chaired by CEO and Executive Director Ms Zhao Xin, was attended by the full Board, sponsor, share registrar, and independent scrutineer.

Key Highlights from the EGM

• Change of Auditors: Shareholders approved the resignation of PKF as the Company’s auditors and the appointment of UHY, which is expected to yield a significant 27% savings in audit fees. This cost reduction could have a positive impact on the Company’s profitability and future cash flows, a development likely to be welcomed by investors.
• Performance Share Plan – Major Grant to Controlling Shareholder: The EGM approved both the participation of Dr Zhang Jian (Chairman and Executive Director, and a controlling shareholder with a 26.24% stake) in the AJJ Performance Share Plan 2024, as well as the specific grant of 20,000,000 new shares to Dr Zhang Jian. These shares vest immediately upon grant, which is scheduled to occur within one year from the EGM date.

Details and Shareholder Q&A

• Audit Fee Savings: The Company highlighted that switching from PKF to UHY as auditor will cut audit fees by 27%, directly benefiting the bottom line.
• Nature of Share Awards: The Company clarified, in response to shareholder questions, that:
  • Ordinary Resolution 2 concerned approving Dr Zhang Jian’s participation in the plan as a controlling shareholder, which is a compliance requirement under SGX Catalist rules.
  • Ordinary Resolution 3 specifically approved the quantum and immediate vesting of the 20 million new shares to Dr Zhang Jian.
  • The grant does not trigger a mandatory general offer (“whitewash”) as Dr Zhang Jian’s aggregate shareholding post-grant remains below the regulatory threshold.
• Performance and Award Criteria: The eligibility and quantum of awards under the Performance Share Plan are determined at the discretion of the Remuneration Committee, based on an array of quantitative and qualitative factors, including financial performance, strategic milestones, individual contributions, and prevailing market conditions. Importantly, the grant of awards is not solely dependent on dividend payments or annual profitability but takes into account the holistic performance and contributions of the recipient.
• Strategic Alignment and Board Support: The Board underscored Dr Zhang Jian’s pivotal role and support during challenging periods for the Company, including providing additional working capital. The grant of performance shares is seen as recognition of his long-term commitment and alignment with the Company’s transformation strategy.
• Zero Opposition: All three resolutions received unanimous shareholder support, with 100% of votes cast in favor and none against.

Potentially Price-Sensitive Information

• Cost Savings: The 27% reduction in audit fees is expected to improve financial performance and could positively affect share valuation.
• Immediate Share Grant: The immediate vesting of 20 million new shares to the controlling shareholder could have an impact on share dilution and future earnings per share, which investors should closely monitor.
• Board Confidence and Management Stability: The recognition of Dr Zhang Jian’s contributions via significant share-based compensation highlights strong Board alignment and could signal management stability and strategic continuity to the market.

Next Steps

• The results of the EGM will be formally announced on SGXNet after trading hours and published on both SGXNet and the Company’s website within one month.

Conclusion

The resolutions passed at AJJ Medtech’s EGM signal a phase of cost optimisation and continued alignment of management and shareholder interests. The cost savings from the auditor change and the substantial performance share grant to the controlling shareholder are both material developments that could influence investor sentiment and share price in the near term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with professional advisors before making investment decisions. The author and publisher accept no liability for any losses incurred as a result of reliance on this information.

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