Shangri-La Asia Limited Proposes Major Amendments to Bye-Laws to Modernize Corporate Governance

Key Highlights for Investors

• Proposed amendments to Bye-Laws: Shangri-La Asia Limited’s Board is proposing significant updates to the Company’s Bye-Laws.
• Focus on digital transformation: The amendments are designed to align with the regulatory requirements for an expanded paperless listing regime. This includes enabling the Company to hold hybrid and fully electronic general meetings, as well as introducing electronic voting.
• Streamlined communications: The changes allow the Company to issue notices and documents via the website without requiring additional consent or notification to shareholders.
• Regulatory alignment: These amendments ensure the Company’s governance is consistent with the latest Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and other relevant laws.
• Shareholder approval required: These amendments will only take effect following approval by a special resolution at the upcoming annual general meeting (AGM).

Details of the Proposed Amendments

Shangri-La Asia Limited is taking proactive steps to modernize its corporate governance framework. The Board of Directors has proposed a set of amendments to the Company’s Bye-Laws. These changes are intended to:

1. Expand the paperless listing regime: The Company will be able to conduct general meetings in hybrid (physical plus electronic) or fully electronic formats. This is expected to increase shareholder participation, reduce administrative costs, and align with the latest market best practices.
2. Enable electronic voting: Shareholders will be able to vote electronically, streamlining the voting process and improving accessibility.
3. Facilitate digital communications: The Company will be empowered to send notices and documents via its website without the need for additional shareholder consent or notification, making communications more efficient and environmentally friendly.
4. Housekeeping and consequential changes: Additional updates will ensure the Bye-Laws are fully aligned with the latest Listing Rules and applicable legal requirements.

What Shareholders Need to Know

• Timing and implementation: The proposed amendments will be presented for approval at the forthcoming AGM. If approved, they will take immediate effect at the close of the AGM.
• Next steps: A circular detailing the proposed amendments, along with the AGM notice, will be distributed to shareholders in due course.
• Potential impact: These changes could enhance shareholder value by improving corporate governance, increasing operational efficiency, and positioning the Company as a leader in digital transformation among Hong Kong-listed entities. Investors should monitor the outcome of the AGM, as the adoption of these amendments may influence market sentiment and the share price.
• Board composition: The announcement also lists the current directors, which includes a mix of executive, non-executive, and independent non-executive directors, ensuring strong oversight and diverse expertise.

Board of Directors (As of Announcement Date)

• Executive Directors:
  • Ms. KUOK Hui Kwong (Chairman & Group Chief Executive Officer)
  • Mr. CHUA Chee Wui (Group Chief Financial Officer & Group Chief Investment Officer)
• Non-executive Director: Mr. LIM Beng Chee
• Independent Non-executive Directors:
  • Professor LI Kwok Cheung Arthur
  • Mr. YAP Chee Keong
  • Mr. LI Xiaodong Forrest
  • Mr. ZHUANG Chenchao
  • Ms. KHOO Shulamite N K
  • Mr. CHUA Yuan Wen William

Conclusion

The proposed amendments represent a significant step towards modernizing Shangri-La Asia Limited’s corporate governance. By embracing digital solutions and aligning with evolving regulatory standards, the Company is positioning itself for future growth and resilience. Shareholders are encouraged to review the forthcoming circular and participate in the AGM to ensure their interests are represented.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult professional advisors before making investment decisions. The information is based solely on the official company announcement as of the date stated therein.

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