China Oilfield Services Limited Announces 2026 H Shareholders’ Class Meeting: Key Price-Sensitive Mandates on Share Buy-Back

China Oilfield Services Limited (“COSL”, Stock Code: 2883) has issued a notice convening the 2026 First Class Meeting of the Holders of H Shares, scheduled for Friday, 22 May 2026 at 10:30 a.m. The meeting will be held at Room 311, Main Building of COSL, 201 Haiyou Avenue, Yanjiao Economic & Technological Development Zone, Sanhe City, Hebei Province, PRC.

Key Resolutions for Shareholders: Special Resolution on Share Buy-Back

• General Mandate for Share Buy-Back: The Board seeks shareholder approval for a general mandate to buy back both domestic shares (A shares) and overseas-listed foreign invested shares (H shares). The buy-back is capped at 10% of the total number of each share type in issue at the time the resolution is passed.
• Buy-Back Procedures and Flexibility: The Board will have authority to formulate and amend specific buy-back plans, including determining the timing, price, volume, and use of repurchased shares. In the event of buy-back of A shares to reduce registered capital, further shareholder approval will be required at a general meeting, but not at class meetings.
• H Shares Buy-Back: The mandate extends to H shares, allowing buy-back up to 10% of the H shares in issue—excluding treasury shares—subject to relevant resolutions being passed at class meetings.
• Comprehensive Authorisation: The Board is empowered to undertake all necessary actions, including notifying creditors, opening overseas share accounts, handling regulatory filings, executing relevant documents, and amending the Articles of Association to reflect changes in share capital and structure. The Board may also transfer and cancel repurchased shares or hold them as treasury shares.
• Mandate Expiry: The general mandate will expire at the earliest of: the conclusion of the 2026 AGM, twelve months after approval at the 2025 AGM and class meetings, or when revoked or varied by a special resolution.

Important Information for Shareholders

• Eligibility to Attend and Vote: Only holders of H Shares whose names appear on the COSL register maintained by Computershare Hong Kong Investor Services Limited on 22 May 2026 are entitled to attend and vote.
• Proxy Arrangements: Shareholders may appoint one or more proxies to attend and vote on their behalf. Proxy forms and authorisation documents must be received by Computershare (for H shares) or COSL’s Board Office (for A shares) at least 24 hours before the meeting.
• Register Closure: The H Share register will be closed from 19 May 2026 to 22 May 2026. No share transfers will be processed during this period. Transferees wishing to attend must complete share transfers by 4:30 p.m. on 18 May 2026.
• Identification Requirements: Attendees must present proof of identity. Proxies must provide proxy forms or power of attorney documents.
• Logistics: The meeting is expected to last less than one day. Shareholders and proxies are responsible for their own transportation and accommodation.

Potential Price Sensitivity and Impact on Share Value

The proposed general mandate for share buy-backs is a potentially price-sensitive event. Authorising the Board to repurchase up to 10% of both A and H shares gives COSL significant flexibility to manage its capital structure. Share buy-backs can signal confidence in the company’s prospects, potentially enhance earnings per share, and support the share price by reducing the supply of outstanding shares. The Board’s wide-ranging authority to execute buy-backs, hold shares as treasury shares, or cancel them, provides strategic tools that could influence COSL’s market valuation and investor sentiment.

Investors should closely monitor the outcome of this meeting, as approval of the mandate may lead to future buy-back programs, which historically tend to have positive effects on share prices and can affect trading volumes. The timing, scale, and method of buy-backs will be at the Board’s discretion, subject to market conditions and regulatory compliance.

Director Information and Meeting Details

• Board Composition: The Board includes Chairman Zhao Shunqiang, Lu Tao, employee representative Xiao Jia, non-executive directors Fan Baitao and Liu Qiudong, and independent non-executive directors Chiu Lai Kuen, Susanna, Kwok Lam Kwong, Larry, and Yao Xin.
• Notice Date: 29 April 2026

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell securities. Shareholders and investors are advised to read official company documents and consult with professional advisers before making any investment decisions. The information provided is based on publicly available documents as of 29 April 2026 and may be subject to change.

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