Hony Media Group Announces Extraordinary General Meeting: Convertible Bond Extension & Share Issuance Mandate

Key Points for Investors

• Extraordinary General Meeting (EGM) Scheduled: The EGM will be held on Wednesday, 18 March 2026, at 10:00 a.m. at Room 3302, 33/F, West Tower, Shun Tak Centre, 200 Connaught Road Central, Hong Kong.
• Major Resolution: Shareholders will vote to approve an extension of the maturity date for HK\$60,000,000 in outstanding convertible bonds, originally due 21 March 2026, to 21 April 2028 – a 25-month extension.
• Convertible Bond Details: The extension deed was signed with United Strength LS Limited on 22 January 2026. The convertible bonds are a principal amount of HK\$60 million.
• Share Issuance Mandate: Subject to Stock Exchange approval, the Board will seek a specific mandate to allot and issue new shares (HK\$0.20 each) upon conversion of the revised convertible bonds. This could potentially dilute existing shareholdings and impact share price.
• Director Authorization: Directors are authorized to execute all necessary documents and actions related to the extension and share issuance.
• Register Closure: The register of members will be closed from 13 March to 18 March 2026. No share transfers will be registered during this period, and the record date for voting eligibility is 18 March 2026.
• Voting Procedures: Shareholders can appoint proxies and voting will be conducted by poll, in compliance with HKEX Listing Rule 13.39(4).
• Board Composition: The Board consists of executive, non-executive, and independent non-executive directors, with Mr. Zhao John Huan as Chairman and Mr. Cheng Wu as CEO.

Details Investors Must Know

The proposed extension of the convertible bond maturity date and the associated mandate to issue shares upon conversion are significant corporate actions. If approved, these moves will:

• Impact Capital Structure: The extension gives the company more time to manage its HK\$60 million convertible debt, potentially improving liquidity and financial flexibility.
• Potential Share Dilution: If the bond holders exercise their conversion rights, new shares will be issued, diluting the stakes of existing shareholders and possibly affecting share price.
• Price Sensitivity: The extension and share issuance could be interpreted as positive (greater financial stability, flexibility) or negative (dilution, delayed repayment) by the market, making this news highly price-sensitive.
• Eligibility and Procedures: Shareholders must ensure their share transfers are registered by 12 March 2026 to participate in voting. Joint holders should note that only the first-named in the register can vote if multiple holders are present.
• Proxy Arrangements: Shareholders unable to attend can appoint proxies, with forms available via the Company’s circular and website. These must be lodged with Tricor Investor Services Limited at least 48 hours before the EGM.

Why This Matters

Extension of convertible bonds is a strategic move that can affect both the short-term and long-term outlook for Hony Media Group. The ability to convert the bonds into shares introduces the possibility of new equity entering the market, which could impact supply-demand dynamics and share valuation. Investors will need to assess the implications on the company’s financial health, dilution risk, and overall market sentiment.

Important Dates and Contacts

• EGM Date: 18 March 2026
• Register Closure: 13–18 March 2026
• Share Transfer Deadline: 12 March 2026 (by 4:30 p.m.)
• Registrar Contact: Tricor Investor Services Limited, Tel: (852) 2980 1333

Board Members

• Mr. ZHAO John Huan – Chairman
• Mr. CHENG Wu – CEO (Executive Director)
• Mr. YUEN Hoi Po – President (Executive Director)
• Mr. YUEN Kin – Independent Non-Executive Director
• Ms. WANG Song Song – Independent Non-Executive Director
• Ms. PAN Min – Independent Non-Executive Director

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult their financial advisors before making any investment decisions related to Hony Media Group. The information is based on public disclosures and may be subject to change. The author and publisher accept no liability for any loss arising from reliance on this report.

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