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CL Group (Holdings) Limited — Proxy Solicitation & Information Statement 2025
Jul 8, 2025
51268_rns_2025-07-08_3a9d059e-9833-4d85-822b-fa03f0c6631a.pdf
Proxy Solicitation & Information Statement
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THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular.
If you are in any doubt as to any aspect of this circular or as to the action to be taken, you should consult a licensed securities dealer, bank manager, solicitor, professional accountant, or other professional adviser.
If you have sold or transferred all your shares in CL Group (Holdings) Limited, you should at once hand this circular and the accompanied proxy form to the purchaser or transferee or to the bank, the licensed securities dealer or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee.
CL GROUP (HOLDINGS) LIMITED
昌利（控股）有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8098)
GENERAL MANDATES TO ISSUE NEW SHARES
AND REPURCHASE ITS OWN SHARES
RE-ELECTION OF DIRECTORS
AND
NOTICE OF ANNUAL GENERAL MEETING
A notice convening the annual general meeting of the Company ("AGM") to be held at Room 16B, 16/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wan Chai, Hong Kong on Monday, 11 August 2025 at 2:30 p.m., is set out on pages 14 to 17 of this circular. A form of proxy for use at the AGM is enclosed. Whether or not you are able to attend the AGM in person, you are advised to complete the form of proxy attached to the notice of the AGM in accordance with the instructions printed thereon and return the same to Hong Kong branch share registrar and transfer office of the Company, Tricor Investor Services Limited at 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong, as soon as possible but in any event not less than 48 hours before the time appointed for holding of such AGM or any adjournment thereof. Completion and return of the form of proxy will not preclude you from attending and voting in person at the AGM or any adjourned meeting if you so wish.
9 July 2025
CHARACTERISTICS OF THE GEM OF THE STOCK EXCHANGE
GEM has been positioned as a market designed to accommodate companies to which a high investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.
Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.
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TABLE OF CONTENTS
Page
DEFINITIONS... 1
LETTER FROM THE BOARD
INTRODUCTION... 3
RE-ELECTION OF DIRECTORS... 4
PROPOSED GENERAL MANDATE TO ISSUE NEW SHARES... 5
PROPOSED GENERAL MANDATE TO REPURCHASE SHARES... 6
EXPLANATORY STATEMENT... 6
THE AGM... 6
RECOMMENDATION... 7
RESPONSIBILITY STATEMENT... 7
MISCELLANEOUS... 7
APPENDIX I — EXPLANATORY STATEMENT... 8
APPENDIX II — BIOGRAPHICAL DETAILS OF DIRECTORS
PROPOSED TO BE RE-ELECTION AT THE
ANNUAL GENERAL MEETING... 11
NOTICE OF AGM... 14
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DEFINITIONS
In this circular, unless the context requires otherwise, the expressions as stated below will have the following meanings:
"2025 Annual Report"
the annual report of the Company for the year ended 31 March 2025;
"AGM"
the annual general meeting of the Company to be held at Room 16B, 16/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wan Chai, Hong Kong, on Monday, 11 August 2025 at 2:30 p.m.;
"Articles of Association"
the articles of association of the Company;
"associate(s)"
has the meanings ascribed to it under the GEM Listing Rules;
"Board"
the board of Directors;
"close associate(s)"
has the meanings ascribed to it under the GEM Listing Rules;
"Company"
CL Group (Holdings) Limited, a company incorporated in the Cayman Islands with limited liability, the shares of which are listed on GEM;
"connected person(s)"
has the meanings ascribed to it under the GEM Listing Rules;
"core connected person(s)"
has the meanings ascribed to it under the GEM Listing Rules;
"Directors"
the director(s) of the Company;
"GEM"
The GEM of the Stock Exchange;
"GEM Listing Rules"
The Rules Governing the Listing of Securities on GEM;
"Group"
the Company and its subsidiaries;
"HK$"
Hong Kong dollars, the lawful currency of Hong Kong;
"Hong Kong"
the Hong Kong Special Administrative Region of the People's Republic of China;
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DEFINITIONS
"inside information" has the meanings ascribed to it under the GEM Listing Rules;
"Latest Practicable Date" 4 July 2025, being the latest practicable date for ascertaining certain information prior to the printing of this circular;
"New Issue Mandate" the general and unconditional mandate to allot and issue Shares not exceeding 20% of the aggregate number of issued Shares of the Company as at the date of passing of the resolution approving the same;
"Repurchase Mandate" the general mandate to exercise the power of the Company to repurchase Shares up to a maximum of 10% of the aggregate number of issued Shares of the Company as at the date of passing of the resolution approving the same;
"Share(s)" share(s) of nominal value of HK$0.01 each in the share capital of the Company;
"Shareholders" registered holders of the Shares;
"Stock Exchange" The Stock Exchange of Hong Kong Limited;
"subsidiary" has the meanings ascribed to it under the GEM Listing Rules;
"Takeovers Code" the Hong Kong Code on Takeovers and Mergers issued by the Securities and Futures Commission of Hong Kong as amended from time to time;
"%" per cent.
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LETTER FROM THE BOARD
CL GROUP (HOLDINGS) LIMITED
昌利（控股）有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8098)
Executive Directors:
Kwok Kin Chung (Chief Executive Officer)
Yu Linda
Lau Kin Hon
Independent Non-Executive Directors:
Poon Wing Chuen
Lau Ka Nam
Lam Tsz Shing
Registered Office:
Cricket Square
Hutchins Drive
P. O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
Principal Place of Business:
Room 16B, 16/F
Bank of East Asia Harbour View Centre
56 Gloucester Road
Wan Chai, Hong Kong
9 July 2025
To the Shareholders,
Dear Sir or Madam,
GENERAL MANDATES TO ISSUE NEW SHARES
AND REPURCHASE ITS OWN SHARES
RE-ELECTION OF DIRECTORS
AND
NOTICE OF ANNUAL GENERAL MEETING
INTRODUCTION
The purpose of this circular is to provide you with information regarding (i) the proposed new general mandates to issue and allot Shares, (ii) the proposed new general mandate to repurchase Shares, and (iii) re-election of Directors.
LETTER FROM THE BOARD
This circular contains the explanatory statement in compliance with the GEM Listing Rules and to give all the information reasonably necessary to enable Shareholders to make an informed decision on whether to vote for or against the resolutions.
RE-ELECTION OF DIRECTORS
In accordance with Article 84(1) of the Articles of Association, at each annual general meeting one-third of the Directors for the time being (or if their number is not a multiple of three (3), the number nearest to but not less than one-third) shall retire from office by rotation. Accordingly, Mr. Kwok Kin Chung, Ms. Yu Linda and Mr. Poon Wing Chuen, shall retire at the AGM and being eligible, offer themselves for re-election.
Ms. Lau Ka Nam and Mr. Lam Tsz Shing has been appointed by the Board as independent non-executive director of the Company on 9 August 2024 and 5 November 2024 respectively. In accordance with Article 83(3) of the Articles of Association, any Director appointed by the Board shall hold office only until the next following annual general meeting of the Company and shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election. Accordingly, Ms. Lau and Mr. Lam, being Directors appointed by the Board after the last annual general meeting, shall retire at the AGM and being eligible, offer themselves for re-election.
Mr. Kwok Kin Chung is an executive director and the chief executive officer of the Company. He joined the Group in July 2010 and is primarily responsible for managing daily operations and supervising dealing staff. Ms. Yu Linda is an executive director of the Company. She joined the Group in October 2007 and is primarily responsible for the Company's business development, marketing and maintenance of clients' relations. The Nomination Committee of the Board consider that Mr. Kwok and Ms. Yu have served the Group for a long period of time since before its listing on the Stock Exchange and have made immensely valuable contribution towards the success of the Group.
Ms. Lau Ka Nam is an independent non-executive director of the Company. Ms. Lau holds a Bachelor Degree in Creative Media from City University of Hong Kong. Ms. Lau is a member of the Golden Bauhinia Women Entrepreneur Association and is a Professional Certified Coach of the International Coaching Federation. Ms. Lau has over 10 years of experience in the recruitment and human resources industry. Ms. Lau joined the Group on 9 August 2024. Mr. Lam Tsz Shing is an independent non-executive director of the Company. Mr. Lam holds a Bachelor Degree in Philosophy from The Chinese University of Hong Kong. Mr. Lam has over 10 years of experience in marketing and project management. Ms. Lau and Mr. Lam have provided valuable contributions and insights to the Board. The Nomination Committee has considered the experience, skills and expertise of Ms. Lau and Mr. Lam as well as the overall board diversity according to the Board's
LETTER FROM THE BOARD
diversity policy. The Board, based on the recommendation of the Nomination Committee, believes that Ms. Lau and Mr. Lam will continue to provide valuable insights and contribute to diversity to the Board and should be re-elected.
Director who has served for more than nine years
Mr. Poon Wing Chuen has served as independent non-executive Director of the Company for more than nine years. Mr. Poon was appointed as the independent non-executive Director on 30 June 2014. Although Mr. Poon has been on the Board for over nine years, it is well recognised that an individual’s independence cannot be determined arbitrarily on the basis of a set period of time. The Nomination Committee and the Board have reviewed the annual written independence confirmation of Mr. Poon, and assessed his independence based on the independence guidelines set out in Rule 5.09 of the GEM Listing Rules and noted that none of the factors set out in Rule 5.09 applies. In assessing the independence of Mr. Poon, the Board and the Nomination Committee have also considered the character and judgement demonstrated by his commitment and contribution during his years of service and other relevant factors. The Board is of the view that despite his length of service, Mr. Poon maintains an independent mindset and provides invaluable expertise, experience, continuity and stability to the Board, and the Company has benefited greatly from his contribution and valuable insights derived from his in-depth knowledge of the Company. Mr. Poon is an experienced account professional. His professional knowledge contributed to the Board’s diversity of experience. Based on the above, the Board considers Mr. Poon to be independent and believes that he will continue to contribute effectively to the Board.
PROPOSED GENERAL MANDATE TO ISSUE NEW SHARES
An ordinary resolution will be proposed at the AGM to grant to the Directors the New Issue Mandate. The Shares which may be allotted and issued pursuant to the New Issue Mandate is limited to a maximum of 20% of the aggregate number of issued Shares of the Company as at the date of passing of the resolution approving the New Issue Mandate. In addition, another ordinary resolution will be proposed that the New Issue Mandate be extended so that the Directors are given a general mandate to issue further Shares in the Company of an aggregate number of Shares equal to the aggregate Shares of the Company repurchased under the Repurchase Mandate.
Details of the aforesaid ordinary resolutions are set out in ordinary resolutions numbers 4 and 6 in the notice of the AGM.
LETTER FROM THE BOARD
PROPOSED GENERAL MANDATE TO REPURCHASE SHARES
An ordinary resolution will be proposed at the AGM to grant to the Directors the Repurchase Mandate. The Shares which may be repurchased pursuant to the Repurchase Mandate is limited to a maximum of 10% of the aggregate number of issued Shares of the Company as at the date of passing of the resolution approving the Repurchase Mandate.
Details of the aforesaid ordinary resolution are set out in ordinary resolution number 5 in the notice of the AGM.
As at the Latest Practicable Date, there were in issue an aggregate of 2,200,000,000 Shares. Subject to the passing of the proposed resolutions for the grant of the New Issue Mandate and the Repurchase Mandate, and on the basis that no further Shares will be issued or repurchased prior to the date of the AGM, exercise in full of the Repurchase Mandate will result in up to 220,000,000 Shares being repurchased by the Company, and the Directors will be authorised to allot and issue under the New Issue Mandate up to 440,000,000 Shares, and to the extent the Repurchase Mandate is exercised, plus the amount of Shares representing the aggregate number of Shares of the Company repurchased by the Company under the Repurchase Mandate.
The New Issue Mandate and the Repurchase Mandate shall continue in force during the period from the date of passing the relevant resolution ending on the earliest of (a) the date of the next annual general meeting; or (b) the date by which the next annual general meeting of the Company is required to be held by law or by its articles of association; or (c) the date upon which such authority is revoked or varied by an ordinary resolution of the Shareholders in a general meeting of the Company.
EXPLANATORY STATEMENT
An explanatory statement containing information relating to the Repurchase Mandate, as required by Rule 13.08 of the GEM Listing Rules, is set out in the Appendix I to this circular. The information in the explanatory statement is to provide you with the information reasonably necessary to enable you to make an informed decision on whether to vote for or against the resolution relating to the Repurchase Mandate.
THE AGM
A notice convening the AGM is set out on pages 14 to 17 of this circular.
LETTER FROM THE BOARD
The resolutions for the Repurchase Mandate, the New Issue Mandate and re-election of Directors will be proposed at the AGM for your consideration and approval. All resolutions proposed at the AGM will be voted on by poll. A form of proxy for the AGM is enclosed with this circular. Whether or not you intend to be present at the AGM, you are advised to complete the form of proxy and return it to the Company's Hong Kong branch share registrar and transfer office, Tricor Investor Services Limited at 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong in accordance with the instructions printed thereon as soon as possible but in any event not less than 48 hours before the time fixed for the AGM. The completion and delivery of a form of proxy will not preclude you from attending and voting at the meeting in person.
RECOMMENDATION
The Directors consider that the New Issue Mandate, the Repurchase Mandate and the re-election of Directors referred to in this circular are in the interests of the Company and the Shareholders as a whole. The Directors therefore recommend the Shareholders to vote in favour of all the relevant resolutions proposed at the AGM.
RESPONSIBILITY STATEMENT
This circular, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this circular is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this circular misleading.
MISCELLANEOUS
The English text of this circular shall prevail over the Chinese text for the purpose of interpretation.
Yours faithfully,
On behalf of the Board
CL Group (Holdings) Limited
Kwok Kin Chung
Chief Executive Officer
APPENDIX I
EXPLANATORY STATEMENT
The following is the explanatory statement required to be sent to shareholders pursuant to Rule 13.08 of the GEM Listing Rules in connection with the proposed Repurchase Mandate which, if approved, would authorize the Directors to repurchase the Shares.
1. SHARE CAPITAL
As at the Latest Practicable Date, the issued share capital of the Company comprised 2,200,000,000 Shares.
Subject to the passing of the ordinary resolution number 5 set out in the notice of the AGM and on the basis that no further Shares are issued or repurchased prior to the AGM, the Company would be allowed under the Repurchase Mandate to repurchase a maximum of 220,000,000 Shares during the course of the period from the date of passing the relevant resolution up to (i) the conclusion of the next annual general meeting of the Company; (ii) the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association or any applicable laws of the Cayman Islands to be held; or (iii) the revocation, variation or renewal of the Repurchase Mandate by ordinary resolution of the Shareholders general meeting, whichever occurs first.
2. REASONS FOR REPURCHASE
The Directors believe that it is in the best interests of the Company and its Shareholders to seek a general authority from Shareholders to enable the Directors to repurchase Shares of the Company in the market. Such repurchases may, depending on market conditions and funding arrangements at the time, lead to an enhancement of the net assets of the Company and/or its earnings per Share and will only be made when the Directors believe that such repurchases will benefit the Company and its shareholders.
3. FUNDING OF REPURCHASES
In repurchasing Shares, the Company may only apply funds legally available for such purpose in accordance with its Articles of Association, the GEM Listing Rules and the applicable laws of the Cayman Islands. The Company may not repurchase its own shares on the GEM for a consideration other than cash or for settlement otherwise than in accordance with the trading rules of the Stock Exchange from time to time.
4. EFFECT OF EXERCISING THE REPURCHASE MANDATE
There might be a material adverse impact on the working capital or gearing position of the Company (as compared with the position disclosed in the 2025 Annual Report) in the event that the Repurchase Mandate is exercised in full. However, the Directors do not propose to exercise the
APPENDIX I
EXPLANATORY STATEMENT
Repurchase Mandate to such an extent as would, in the circumstances, have a material adverse effect on the working capital requirements of the Company or on the gearing levels which, in the opinion of the Directors, are from time to time appropriate of the Company.
5. UNDERTAKING
The Directors have undertaken to the Stock Exchange that, so far as the same may be applicable, they will exercise the Repurchase Mandate pursuant to the proposed resolution in accordance with the GEM Listing Rules, the Articles of Association and the applicable laws of the Cayman Islands.
None of the Directors nor, to the best of their knowledge, having made all reasonable enquires, any of their respective close associates (as defined in the GEM Listing Rules) has notified the Company of any present intention, if the Repurchase Mandate is approved by the Shareholders, to sell Shares to the Company or its subsidiaries.
6. SHARE PRICES
The highest and lowest prices at which the Shares were traded on the GEM during each of the calendar months since June 2024 were as follows:
| Shares | ||
|---|---|---|
| Highest | ||
| HK$ | Lowest | |
| HK$ | ||
| 2024 | ||
| June | 0.043 | 0.037 |
| July | 0.053 | 0.040 |
| August | 0.051 | 0.044 |
| September | 0.048 | 0.037 |
| October | 0.059 | 0.037 |
| November | 0.039 | 0.036 |
| December | 0.047 | 0.034 |
| 2025 | ||
| January | 0.052 | 0.038 |
| February | 0.051 | 0.043 |
| March | 0.048 | 0.041 |
| April | 0.047 | 0.042 |
| May | 0.047 | 0.041 |
| June | 0.055 | 0.042 |
| July (up to the Latest Practicable Date) | 0.047 | 0.047 |
APPENDIX I
EXPLANATORY STATEMENT
7. SHARES PURCHASE MADE BY THE COMPANY
No purchases of Shares have been made by the Company (whether on the GEM or otherwise) since the listing of the shares on the GEM and up to the Latest Practicable Date.
8. THE TAKEOVERS CODE
If, as a result of a repurchase of Shares, a Shareholder’s proportionate interest in the voting rights of the Company increases, such increase will be treated as an acquisition for the purposes of the Takeovers Code. As a result, a Shareholder, or a group of Shareholders acting in concert (within the meaning under the Takeovers Code), depending on the level of increase in the Shareholder’s interests, could obtain or consolidate control of the Company and become obliged to make a mandatory offer in accordance with Rule 26 of the Takeovers Code.
As at the Latest Practicable Date, Ms. Au Suet Ming Clarea (“Ms. Au”) is deemed to be interested in 1,500,000,000 Shares through Zillion Profit Limited, being the substantial shareholder of the Company, representing 68.18% of the total issued share capital of the Company. If the Repurchase Mandate is exercised in full, the shareholding of Ms. Au would be increased to approximately 75.76%. Such increase will not give rise to an obligation to make a mandatory offer under Rule 26 of the Takeovers Code. However it would result in the amount of Shares held by the public being reduced to less than 25%.
Currently, the Directors have no intention to exercise the powers of the Company to make any repurchases of the Shares of the Company. In any event, the Directors do not intend to exercise the Repurchase Mandate to an extent which will trigger off the mandatory offer requirement pursuant to the rules of the Takeovers Code or which will result in the amount of Shares held by the public being reduced to less than 25%, the minimum prescribed percentage for the Shares to be held by the public after listing of the Shares on the GEM.
9. CONNECTED PERSON
No core connected person (as defined in the GEM Listing Rules) has notified the Company that it has a present intention to sell Shares to the Company or its subsidiaries, or has undertaken not to do so, in the event that the Repurchase Mandate is approved by the Shareholders.
APPENDIX II
BIOGRAPHICAL DETAILS OF DIRECTORS PROPOSED TO BE RE-ELECTION AT THE ANNUAL GENERAL MEETING
The biographical details of the Directors proposed to be re-elected at the AGM are set out as follows:
Mr. KWOK Kin Chung (“Mr. Kwok”), aged 50, executive director and chief executive officer of the Company. He joined the Group in July 2010. Mr. Kwok is responsible for managing daily operations and supervising dealing staff. He obtained a Master’s degree in Finance from Curtin University of Technology of Australia and a professional diploma in Corporate Finance from The Hong Kong Management Association. Mr. Kwok has over 24 years of experience in securities and derivatives dealing. In the three years preceding the Latest Practicable Date, Mr. Kwok did not hold any directorship in any other listed company. Mr. Kwok has entered into a service agreement with the Company for no fixed term commencing from 25 February 2023 and is subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association. According to the service agreement between Mr. Kwok and the Company, Mr. Kwok’s remuneration is subject to review at the discretion of the Board. Mr. Kwok is currently entitled to an emolument of HK$1,104,118 per annum. In addition, Mr. Kwok is entitled to a discretionary bonus to be determined by the Company at its absolute discretion. The emoluments of Mr. Kwok were determined by reference to his experience, responsibilities, workload and the time devoted to the Group. He is a director of various subsidiaries of the Company. Save as aforesaid, Mr. Kwok does not have any relationship with any directors, senior management, management shareholders or substantial or controlling shareholder of the Company, nor any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no information to be disclosed by Mr. Kwok pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules and there is no other information in relation to the re-election of Directors that need to be brought to the attention of the shareholders.
Ms. YU Linda (“Ms. Yu”), aged 52, executive director of the Company. She also holds directorship in certain subsidiaries of the Company. She joined the Group in October 2007. Ms. Yu is responsible for the Company’s business development, marketing, maintenance of clients’ relations and such other matters as the Board shall from time to time direct. Ms. Yu has over 27 years of experience in the securities industry. In the three years preceding the Latest Practicable Date, Ms. Yu did not hold any directorship in any other listed company. Ms. Yu has entered into a service agreement with the Company for no fixed term commencing from 25 February 2023 and is subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association. According to the service agreement between Ms. Yu and the Company, Ms. Yu’s remuneration is subject to review at the discretion of the Board. Ms. Yu is currently entitled to an emolument of HK$600,000 per annum. In addition, Ms. Yu is entitled to a discretionary bonus to be determined by the Company at its absolute discretion. The emoluments of Ms. Yu were determined by reference to his experience, responsibilities, workload and the time devoted to the Group. Save as aforesaid, Ms. Yu does not have any relationship with any directors,
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APPENDIX II
BIOGRAPHICAL DETAILS OF DIRECTORS PROPOSED TO BE RE-ELECTION AT THE ANNUAL GENERAL MEETING
senior management, management shareholders or substantial or controlling shareholder of the Company, nor any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no information to be disclosed by Ms. Yu pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules and there is no other information that need to be brought to the attention of the shareholders.
Mr. POON Wing Chuen (“Mr. Poon”), aged 59, independent non-executive director of the Company since 30 June 2014. Mr. Poon is currently the chief financial officer of a real estate development company listed on the Stock Exchange. Mr. Poon has over 35 years of experience in accounting and financial management. Mr. Poon obtained a professional diploma in accountancy from City University of Hong Kong. He is a fellow member of Association of Chartered Certified Accountants. In the three years preceding the Latest Practicable Date, Mr. Poon did not hold any directorship in any other listed company. According to a service agreement between Mr. Poon and the Company, Mr. Poon is entitled to an emolument of HK$120,000 per annum. The director’s emolument is determined and subject to the review by the remuneration committee of the Company with reference to his contribution in terms of time, effort, his expertise and the prevailing market condition on an annual basis. Mr. Poon’s appointment is for a fixed term of one year and is subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association. Save as aforesaid, Mr. Poon does not have any relationship with any directors, senior management, management shareholders or substantial or controlling shareholder or the Company, nor any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no information to be disclosed by Mr. Poon pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules and there is no other information that need to be brought to the attention of the shareholders.
Ms. Lau Ka Nam (“Ms. Lau”), aged 36, independent non-executive director of the Company since 9 August 2024. Ms. Lau holds a Bachelor Degree in Creative Media from City University of Hong Kong. Ms. Lau is a member of the Golden Bauhinia Women Entrepreneur Association and is a Professional Certified Coach of the International Coaching Federation. Ms. Lau has over 10 years of experience in the recruitment and human resources industry. In the three years preceding the Latest Practicable Date, Ms. Lau did not hold any directorship in any other listed company. According to a service agreement between Ms. Lau and the Company, Ms. Lau is entitled to an emolument of HK$120,000 per annum. The director’s emolument is determined and subject to the review by the remuneration committee of the Company with reference to her contribution in terms of time, effort, her expertise and the prevailing market condition on an annual basis. Ms. Lau’s appointment has no fixed term commencing from 9 August 2024 and is subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association. Save as aforesaid, Ms. Lau does not have any relationship with any directors, senior management, management shareholders or substantial or controlling shareholder of the Company,
APPENDIX II
BIOGRAPHICAL DETAILS OF DIRECTORS PROPOSED TO BE RE-ELECTION AT THE ANNUAL GENERAL MEETING
nor any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no information to be disclosed by Ms. Lau pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules and there is no other information that need to be brought to the attention of the shareholders.
Mr. Lam Tsz Shing (“Mr. Lam”), aged 38, independent non-executive director of the Company since 5 November 2024. Mr. Lam holds a Bachelor Degree in Philosophy from The Chinese University of Hong Kong. Mr. Lam has over 10 years of experience in marketing and project management. In the three years preceding the Latest Practicable Date, Mr. Lam did not hold any directorship in any other listed company. According to a service agreement between Mr. Lam and the Company, Mr. Lam is entitled to an emolument of HK$120,000 per annum. The director’s emolument is determined and subject to the review by the remuneration committee of the Company with reference to his contribution in terms of time, effort, his expertise and the prevailing market condition on an annual basis. Mr. Lam’s appointment has no fixed term commencing from 5 November 2024 and is subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association. Save as aforesaid, Mr. Lam does not have any relationship with any directors, senior management, management shareholders or substantial or controlling shareholder of the Company, nor any interests in the securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no information to be disclosed by Mr. Lam pursuant to Rule 17.50(2)(h) to (v) of the GEM Listing Rules and there is no other information that need to be brought to the attention of the shareholders.
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NOTICE OF AGM
CL GROUP (HOLDINGS) LIMITED
昌利（控股）有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 8098)
NOTICE IS HEREBY GIVEN THAT an annual general meeting of CL Group (Holdings) Limited (the "Company") will be held at Room 16B, 16/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong on Monday, 11 August 2025 at 2:30 p.m. to consider and, if thought fit, to pass with or without amendments, the following resolutions:
ORDINARY RESOLUTIONS
-
To receive and consider the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors of the Company (the "Directors") and the auditors of the Company for the year ended 31 March 2025;
-
(A) (i) To re-elect Mr. Kwok Kin Chung as an executive director;
(ii) To re-elect Ms. Yu Linda as an executive director;
(iii) To re-elect Mr. Poon Wing Chuen as an independent non-executive director;
(iv) To re-elect Ms. Lau Ka Nam as an independent non-executive director; and
(v) To re-elect Mr. Lam Tsz Shing as an independent non-executive director;
(B) to authorise the board of directors to fix the Directors' remuneration.
-
To re-appoint Confucius International CPA Limited as auditors of the Company and to authorise the Board to fix their remuneration;
-
"THAT:
(a) subject to paragraph (c) of this resolution, and pursuant to the Rules Governing the Listing of Securities on the GEM (the "GEM Listing Rules") of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the exercise by the Directors during the Relevant Period (as hereinafter defined) of all the powers of the Company to allot, issue and deal with additional shares of HK$0.01 (the
- 14 -
NOTICE OF AGM
"Share") each in the share capital of the Company and to make or grant offers, agreements and options which might require the exercise of such powers be and the same is hereby generally and unconditionally approved;
(b) the approval in paragraph (a) of this resolution shall authorise the Directors during the Relevant Period to make or grant offers, agreements and options which might require the exercise of such powers after the end of the Relevant Period;
(c) the aggregate number of Shares allotted or agreed conditionally or unconditionally to be allotted (whether pursuant to an option or otherwise) by the Directors pursuant to the approval in paragraph (a) of this resolution, otherwise than pursuant to (i) a Rights Issue (as defined below); (ii) the exercise of warrants to subscribe for shares of the Company or the exercise of options granted under any ordinary share option scheme adopted by the Company, or (iii) any scrip dividend or similar arrangements providing for the allotment and issue of Shares in lieu of whole or part of a dividend on Shares in accordance with the articles of association of the Company (the "Articles of Association") in force from time to time; or (iv) any issue of Shares upon the exercise of rights of subscription or conversion under the terms of any warrants of the Company or any securities which are convertible into Shares, shall not exceed 20% of the aggregate number of issued Shares of the Company on the date of the passing of this resolution and this approval shall be limited accordingly; and
(d) for the purpose of this resolution:
"Relevant Period" means the period from the passing of this resolution until whichever is the earliest of:
(1) the conclusion of the next annual general meeting of the Company;
(2) the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association or any applicable laws of the Cayman Islands to be held; and
(3) the date on which the authority given under this resolution is revoked or varied by an ordinary resolution of the shareholders of the Company in general meeting; and
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NOTICE OF AGM
"Rights Issue" means an offer of shares open for a period fixed by the Company or the Directors to holders of shares on the register of members of the Company on a fixed record date in proportion to their then holdings of such shares (subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to fractional entitlements, or having regard to any restrictions or obligations under the laws of, or the requirements of, any recognized regulatory body or any stock exchange in any territory outside Hong Kong);
- "THAT:
(a) subject to paragraph (b) of this resolution, the exercise by the Directors during the Relevant Period (as defined below) of all powers of the Company to repurchase its shares on GEM or any other stock exchange on which the securities of the Company may be listed and recognised by the Securities and Futures Commission and the Stock Exchange for such purpose, subject to and in connection with the Companies Law of Cayman Islands and all applicable laws and/or the requirements of the Securities and Futures Commission, the Rules Governing the Listing of Securities on GEM or of any other stock exchange as amended from time to time, be and the same is hereby generally and unconditionally approved;
(b) the aggregate number of Shares of the Company which may be repurchased by the Company pursuant to the approval in paragraph (a) of this resolution during the Relevant Period shall not exceed 10% of the aggregate number of issued Shares of the Company as at the date of the passing of this resolution and the authority pursuant to paragraph (a) of this resolution shall be limited accordingly; and
(c) for the purpose of this resolution, "Relevant Period" means the period from the date of the passing of this resolution until whichever is the earliest of:
(i) the conclusion of the next annual general meeting of the Company;
(ii) the expiration of the period within which the next annual general meeting of the Company is required by the Articles of Association, or any other applicable law of Cayman Islands, to be held; and
(iii) the passing of an ordinary resolution by the shareholders of the Company in general meeting revoking or varying the authority given to the Directors by this resolution";
NOTICE OF AGM
- "THAT conditional upon resolutions Nos. 4 and 5 set out in the notice convening this meeting being duly passed, the general mandate granted to the Directors to exercise the powers of the Company to allot and issue shares pursuant to resolution No. 4 set out in the notice convening this meeting be and is hereby extended by the addition to the aggregate number of Shares which may be allotted or agreed conditionally or unconditionally to be allotted and issued by the Directors pursuant to such general mandate of an amount representing the aggregate number of Shares of the Company repurchased by the Company under the authority granted pursuant to resolution No. 5 set out in the notice convening this meeting, provided that such an amount shall not exceed 10% of the aggregate number of issued Shares of the Company as at the date of the passing of this resolution."
By order of the Board of
CL GROUP (HOLDINGS) LIMITED
Kwok Kin Chung
Chief Executive Officer
Hong Kong, 9 July 2025
Notes:
- A shareholder entitled to attend and vote at the meeting is entitled to appoint a person or persons as his proxy or proxies to attend and, on a poll, vote instead of him. A proxy need not be a shareholder of the Company.
- To be valid, a form of proxy, together with the power of attorney or other authority (if any) under which it is signed or a certified copy of such power of attorney or authority, must be deposited at the offices of Hong Kong branch share registrar and transfer office of the Company, Tricor Investor Services Limited at 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong, not less than 48 hours before the time appointed for holding the meeting or any adjourned meeting, and in default thereof the form of proxy shall not be treated as valid. No instrument appointing a proxy shall be valid after the expiry of 12 months from the date of its execution.
- Delivery of an instrument appointing a proxy shall not preclude a shareholder from attending and voting in person at the meeting, and in such event the instrument appointing a proxy shall be deemed to be revoked.
In order to qualify for attending the Meeting, the transfer books and Register of Members of the Company will be closed from Wednesday, 6 August 2025 to Monday, 11 August 2025, both days inclusive. During which period no share transfers will be effected. All transfer documents, accompanied by the relevant share certificates, must be lodged with the Company's Hong Kong branch share registrar and transfer office, Tricor Investor Services Limited at 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong for registration no later than 4:30 p.m. on Tuesday, 5 August 2025.
As at the date of this notice, the directors of the Company are Mr. Kwok Kin Chung (Chief Executive Officer), Mr. Lau Kin Hon and Ms. Yu Linda being executive directors; Mr. Poon Wing Chuen, Ms. Lau Ka Nam and Mr. Lam Tsz Shing being independent non-executive directors.