Everest Medicines Limited (EVEREST MED) has issued its AGM circular outlining key resolutions to be put to shareholders on 26 June 2026 at 9:30 a.m. via an online platform.
Key agenda items:
1. Board composition • Re-election of five directors: Executive Director and Chairman Yifang Wu, Non-executive Directors Wei Fu, William Ki Chul Cho and Xin Sun, plus Independent Non-executive Director Hoi Yam Chui. • All are eligible and have offered themselves for re-election.
2. Capital management mandates • Share Repurchase Mandate: authority to buy back up to 35.38 million shares, representing 10% of the issued share capital (353.80 million shares as at the latest practicable date). • General Issuance Mandate: authority to allot, issue or transfer up to 70.76 million shares, equivalent to 20% of issued shares, including any disposal of treasury shares. • Extension Mandate: the issuance limit may be increased by the number of shares subsequently repurchased under the buy-back mandate.
3. Auditor • Proposal to re-appoint Ernst & Young as external auditor for another term, with remuneration estimated at RMB 3.50 million–RMB 3.70 million for FY 2026.
Meeting logistics
• The AGM will be conducted exclusively online; shareholders can vote and raise questions via the designated platform. • Proxy forms must be lodged with Computershare Hong Kong Investor Services by 9:30 a.m. on 24 June 2026. • The share register will close from 23 June to 26 June 2026 (both days inclusive) for determining voting eligibility.
Share price context
• Over the 12 months to 28 May 2026, Everest Medicines’ shares traded between HKD 28.50 and HKD 77.55.
Regulatory considerations
• Full utilisation of the buy-back mandate would raise the combined interest of major shareholder CBC Group and related parties from 24.7% to approximately 27.4%, remaining below the 30% threshold that would trigger a mandatory general offer under Hong Kong’s Takeovers Code.
All proposals will be decided by poll, with results disclosed after the meeting on the websites of the Hong Kong Stock Exchange and the company.