Huishang Bank recommends extending the validity period of the A-share issuance plan and authorization proposal
HUISHANG BANK announced that it recommends extending the validity period of the A-share issuance plan and authorization proposal by 12 months to ensure the continuous progress of the A-share issuance work. The validity period of this plan and authorization proposal will expire on June 29, 2025, and the board of directors has reviewed and approved it, intending to submit it for approval at the shareholders' meeting
According to the announcement from Huishang Bank (03698), the A-share issuance plan was approved by a special resolution at the 2018 annual general meeting of shareholders and has been successively approved by special resolutions at the annual general meetings of shareholders in 2019, 2020, 2021, 2022, and 2023 to extend the validity period of the A-share issuance plan by 12 months each time. Given that the 12-month validity period specified in the A-share issuance plan will expire on June 29, 2025, in order to ensure that the A-share issuance work can continue, the bank intends to extend the validity period of the A-share issuance plan by 12 months starting from the day after the original validity period expires. Other contents of the A-share issuance plan remain unchanged.
The proposal to authorize the handling of specific matters related to the A-share issuance was approved by a special resolution at the 2018 annual general meeting of shareholders and has been successively approved by special resolutions at the annual general meetings of shareholders in 2019, 2020, 2021, 2022, and 2023 to extend the validity period of the authorization proposal by 12 months each time. Given that the 12-month validity period specified in the authorization proposal will expire on June 29, 2025, in order to ensure that the A-share issuance work can continue, the bank intends to extend the validity period of the authorization proposal by 12 months starting from the day after the original validity period expires. Other contents of the authorization proposal remain unchanged.
The above matters regarding the extension of the validity period of the A-share issuance plan and the authorization proposal have been approved by the bank's board of directors and are intended to be submitted to the bank's general meeting of shareholders for approval. The bank will timely send a circular and announcement to its shareholders containing (among other things) the materials related to the above proposals
