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Thursday, February 19th, 2026

Infinity Development Holdings Company Limited 2026 AGM Minutes and Poll Results: Resolutions Passed, Director Changes, and Future Expansion Plans

Infinity Development Holdings Company Limited: Key Takeaways from 2026 AGM

Infinity Development Holdings Company Limited: Detailed Recap and Analysis of 2026 AGM

The Annual General Meeting (AGM) of Infinity Development Holdings Company Limited (“Infinity Development”, HKEX: 640, SGX: ZBA) took place on January 29, 2026, with simultaneous venues in Hong Kong and Singapore. The meeting was chaired by Mr. Ip Ka Lun, with key executives and directors in attendance across both locations.

Key Highlights and Price-Sensitive Information for Shareholders

  • All Resolutions Passed by Overwhelming Majority: All ordinary and special resolutions tabled at the AGM were passed, most with unanimous or near-unanimous support. This included approval of the company’s audited accounts, final dividend, re-election of directors, auditor appointments, and mandates for share issuance and buybacks.
  • Generous Final Dividend Approved: Shareholders approved a final dividend of HK10.3 cents per ordinary share (par value HK\$0.02). This payout underscores the company’s commitment to shareholder returns and could support share price stability and attractiveness to income-focused investors.
  • Directorate Changes and Board Continuity:
    • Re-election: Mr. Stephen Graham Prince was re-elected as Executive Director, and Mr. Tay Peng Huat was re-elected as Independent Non-Executive Director.
    • Retirements: Mr. Chan Wing Yau George and Mr. Simon Luk retired as Independent Non-Executive Directors, citing personal pursuits. The Board has expressed gratitude for their contributions, and both confirmed there were no disagreements or outstanding matters needing shareholder attention.
    • Current Board Composition: Post-AGM, the Board consists of three Executive Directors (Mr. Ieong Un, Mr. Ip Ka Lun, Mr. Stephen Graham Prince) and two Independent Non-Executive Directors (Ms. Li Sin Man, Mr. Tay Peng Huat).
  • Auditor Appointments:
    • RSM Hong Kong was re-appointed as auditor for Hong Kong operations.
    • RSM Hong Kong and RSM SG Assurance LLP were re-appointed as joint auditors for Singapore, subject to regulatory approval.
  • Share Issuance and Buyback Mandates:
    • Share Issuance: The Board was granted a general mandate to allot, issue, and deal with new shares (including sale or transfer of treasury shares) up to 20% of issued shares (excluding treasury shares). This provides flexibility for future capital raising or strategic investments.
    • Share Buyback: The Board is authorized to repurchase up to 10% of issued shares (excluding treasury shares). Additionally, the number of shares repurchased can be added back to the share issuance mandate, extending the Board’s flexibility for capital management.
  • Directors’ Fees and Remuneration: Payment of directors’ fees of up to HK\$800,000 for the year ending September 30, 2026, was approved, along with authorization for the Board to fix the remuneration.

Strategic and Operational Insights from Q&A Session

  • Automotive Adhesive Industry Not a Core Focus: In response to shareholder queries, management clarified that sales to the automotive adhesive segment are minor and not a key focus. The Group’s strategic growth remains centered on the footwear adhesives business, especially in the PRC market.
  • International Expansion Plans, Especially India: Approximately 56% of IPO net proceeds are allocated for overseas market expansion, including India. However, progress into India has slowed due to geopolitical risks. Management targets completion of a new plant in India by the end of 2027, contingent upon external conditions. This long-term move could enhance growth prospects but introduces execution risk.

Poll Results: Unanimous and Strong Shareholder Support

  • The vast majority of resolutions were passed with 100% approval, except:
    • Share Issuance Mandate: 99.68% in favor, 0.32% against
    • Share Buyback Mandate: 99.93% in favor, 0.07% against
    • Extending Share Issuance Mandate by Repurchased Shares: 100% in favor, 0.00% against
  • As of the AGM date, there were 316,775,538 shares in issue, with no treasury shares or shares pending cancellation. All shareholders were entitled to vote, and there were no abstentions or stated opposition.

Potential Share Price Implications

  • Dividend Announcement: The declared dividend may support near-term share price performance due to its attractiveness to yield investors.
  • Expansion Plans: While the India expansion is delayed, confirmation of a tentative 2027 timeline signals the company’s commitment to growth, albeit with some geopolitical risk.
  • Board Changes: The retirement of two independent non-executive directors reduces board independence slightly but is not expected to materially impact governance, given the seamless transition and confirmations of no issues outstanding.
  • Capital Management Flexibility: New mandates for share issuance and buybacks equip the Board with tools to respond to market opportunities, potential M&A, or capital returns, which could impact future share price volatility.

Conclusion

Infinity Development Holdings’ 2026 AGM was marked by strong shareholder support, a continued commitment to dividends, and strategic clarity on both its core business and international ambitions. Investors should monitor the company’s execution on its India expansion, as well as any future capital actions enabled by the refreshed mandates for share issuance and buybacks.


Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The information contained herein is based on official company disclosures and AGM minutes as of January 29, 2026. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. The author and publisher take no responsibility for any losses arising from reliance on the information provided above.


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