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Hephaestus Holdings Limited Proxy Solicitation & Information Statement 2016
51310_rns_2016-06-26_20564eb2-d600-4f6b-b59e-05811254ed3d.pdf
Proxy Solicitation & Information Statement
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THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
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 stockbroker or a licensed securities dealer or registered institution in securities, bank manager, solicitor, professional accountant or other professional adviser.
If you have sold or transferred all your shares in Union Asia Enterprise Holdings Limited (the "Company"), you should at once hand this circular with the enclosed form of proxy to the purchaser or the transferee or to the bank, licensed securities dealer or registered institution in securities or other agent through whom the sale or transfer was effected for transmission to the purchaser or the transferee.
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.
UNION ASIA ENTERPRISE HOLDINGS LTD
萬亞企業控股有限公司
(Formerly known as Pan Asia Mining Limited)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8173)
GENERAL MANDATES TO ISSUE AND REPURCHASE SHARES, RE-ELECTION OF DIRECTORS, REFRESHMENT OF THE SCHEME MANDATE LIMIT OF SHARE OPTION SCHEME AND NOTICE OF ANNUAL GENERAL MEETING
A notice convening the annual general meeting of the Company ("AGM") to be held at Ocean I, 1/F., Auberge Discovery Bay Hong Kong, 88 Siena Avenue, Discovery Bay, Lantau Island, Hong Kong on Tuesday, 26 July, 2016 at 8:30 a.m., is set out on pages 18 to 22 of this circular. Whether or not you propose to attend the AGM, you are requested to complete and return the accompanying form of proxy in accordance with the instructions printed thereon to the share registrar and transfer office of the Company in Hong Kong, Tricor Tengis Limited, at Level 22, Hopewell Centre, 183 Queen's Road East, Hong Kong as soon as possible and in any event not less than 48 hours before the time appointed for holding the AGM or any adjourned meeting. Completion and return of the form of proxy will not preclude you from attending in person and voting at the AGM or any adjourned meeting should you so wish. In such event, the form of proxy previously submitted shall be deemed to be revoked.
This circular will remain on the GEM website at www.hkgem.com on the "Latest Company Announcements" page for at least seven days from the date of its posting and on the website of the Company www.unionasiahk.com.
24 June 2016
CHARACTERISTICS OF GEM
GEM has been positioned as a market designed to accommodate companies to which a higher 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 3
Appendix I — Biographical details of the Directors proposed for re-election and election 9
Appendix II — Explanatory statement for the Repurchase Mandate 15
Notice of AGM 18
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DEFINITIONS
In this circular, the following expressions shall have the following meanings unless the context requires otherwise:
"AGM"
2016 annual general meeting of the Company to be held at Ocean I, 1/F., Auberge Discovery Bay Hong Kong, 88 Siena Avenue, Discovery Bay, Lantau Island, Hong Kong on Tuesday, 26 July 2016 at 8:30 a.m. or any adjournment thereof
"Annual Report"
the annual report of the Company for the financial year as at 31 March 2016
"Articles of Association"
the articles of association of the Company
"Board"
board of Directors
"Close associate"
shall have the meaning as defined in the GEM Listing Rules
"Company"
Union Asia Enterprise Holdings Limited, a company incorporated in the Cayman Islands with limited liability and the issued shares of which are listed on the Stock Exchange
"Director(s)"
director(s) of the Company
"Extension Mandate"
a general and unconditional mandate to be granted to the Directors as set out in resolution No. 4C of the Notice to allot, issue and otherwise deal with the Shares with a total number of Shares not exceeding the total number of Shares purchased pursuant to the Repurchase Mandate
"GEM"
Growth Enterprise Market on the Stock Exchange
"GEM Listing Rules"
Rules Governing the Listing of Securities on GEM of the Stock Exchange
"Group"
the Company and its subsidiaries
"Hong Kong"
the Hong Kong Special Administrative Region of the Republic of China
"HK$"
Hong Kong dollar(s), the lawful currency of Hong Kong
"Issue Mandate"
a general and unconditional mandate to be granted to the Directors as set out in resolution no. 4A of the Notice to allot, issue, and deal with Shares up to a maximum of 20% of the issued Shares as at the date of passing of the relevant resolution
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DEFINITIONS
| “Latest Practicable Date” | 22 June 2016, being the latest practicable date prior to the printing of this circular for ascertaining certain information contained in this circular |
|---|---|
| “Listing Committee” | has the meaning ascribed to it under the GEM Listing Rules |
| “Notice” | the notice convening the AGM as set out on pages 18 to 22 of this circular |
| “Old Share Option Scheme” | the share option scheme of the Company approved and adopted by the Company on 25 April 2002, and was terminated on 24 April 2012 |
| “Repurchase Mandate” | a general and unconditional mandate to be granted to the Directors as set out in resolution no. 4B of the Notice to exercise all powers of the Company to repurchase on the Stock Exchange, or any other stock exchange on which the Shares of the Company may be listed, Shares up to a maximum of 10% of the issued share capital of the Company as at the date of passing of the relevant resolution |
| “Scheme Mandate Limit” | the total number of Shares which may be issued upon exercise of all options to be granted under the Share Option Scheme and any other share option scheme of the Company in aggregate not exceeding 10% of the Shares in issue as at the date of approval or refreshment of the scheme limit of the Share Option Scheme |
| “SFO” | Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) |
| “Share(s)” | ordinary share(s), with voting rights, of HK$0.08 each in the capital of the Company |
| “Shareholder(s)” | holder(s) of the Shares |
| “Share Option Scheme” | the share option scheme of the Company approved and adopted by the Company on 30 July 2012 |
| “Stock Exchange” | The Stock Exchange of Hong Kong Limited |
| “Subsidiary” | a subsidiary within the meaning of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) |
| “Takeovers Code” | The Code on Takeovers and Mergers and Share Buy-backs issued by the Hong Kong Securities and Futures Commission |
| “%” | per cent |
This circular has been prepared in both English and Chinese. In the case of any discrepancy, the English text shall prevail.
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LETTER FROM THE BOARD
UNION ASIA
ENTERPRISE HOLDINGS LTD
萬亞企業控股有限公司
(Formerly known as Pan Asia Mining Limited)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8173)
Executive Directors:
Ms. Yip Man Yi (Chairman)
Mr. Shiu Chi Tak, Titus
Non-executive Directors:
Mr. Liang Tongwei
Mr. Wong Chi Man
Independent Non-executive Directors:
Mr. Chu Hung Lin, Victor
Mr. Tong Wan Sze
Mr. Fung Kwok Leung
Dr. Wan Ho Yuen, Terence
Mr. Li Kwok Chu
Mr. Lau Shu Yan
Registered office:
P.O. Box 309,
Ugland House
South Church Street
George Town
Grand Cayman
Cayman Islands
British West Indies
Head office and principal place
of business in Hong Kong:
Units 3404-6, 34/F.,
AIA Tower,
183 Electric Road,
North Point,
Hong Kong
24 June 2016
To the Shareholders
Dear Sir or Madam,
GENERAL MANDATES TO ISSUE AND REPURCHASE SHARES,
RE-ELECTION OF DIRECTORS,
REFRESHMENT OF THE SCHEME MANDATE LIMIT OF
SHARE OPTION SCHEME
AND
NOTICE OF ANNUAL GENERAL MEETING
INTRODUCTION
The purpose of this circular is to provide Shareholders with details regarding (i) the proposed grant of general mandate to allot, issue and deal with Shares and to repurchase Shares; (ii) the refreshment of the Scheme Mandate Limit of Share Option Scheme; and (iii) the proposed re-election of Directors to be dealt with at the AGM.
LETTER FROM THE BOARD
GENERAL MANDATES TO ISSUE AND REPURCHASE SHARES
The mandates to issue and repurchase Shares granted at the annual general meeting of the Company held on 24 July 2015 will lapse at the conclusion of the AGM. In this regard, ordinary resolutions nos. 4A, 4B and 4C set out in the Notice will be proposed at the AGM. With reference to the Repurchase Mandate, the Directors wish to state that they have no present intention to repurchase any Shares.
At the AGM, ordinary resolutions will be proposed to grant the general mandates (Issue Mandate, the Repurchase Mandate and the Extension Mandate collectively, the "Mandates") to the Directors (i) to allot, issue and otherwise deal with Shares not exceeding 569,199,627 Shares, representing 20% of the total number of Shares in issue as at the date of passing the resolution no. 4A as set out in the Notice (assuming no further Shares issued or repurchased from the Latest Practicable Date to the date of AGM); (ii) to repurchase Shares not exceeding 10% of the total number of the issued Shares as at the date of passing the resolution no. 4B as set out in the Notice; and (iii) to extend the general mandate granted pursuant to resolution no. 4A as set out in the Notice, to allot, issue and otherwise deal with the Shares with a total number of Shares not exceeding the total number of Shares purchased pursuant to the Repurchase Mandate (as more particularly described in the resolution no. 4C in the Notice), during the period from the date of passing of the relevant resolutions up to (a) the conclusion of the next annual general meeting of the Company; (b) the expiration of the period within which the next annual general meeting of the Company is required by any applicable laws or the Articles of Association to be held; or (c) the revocation, variation or renewal of the Mandates by ordinary resolution of the Shareholders in a general meeting, whichever occurs first.
EXPLANATORY STATEMENT
An explanatory statement containing all relevant information relating to the Repurchase Mandate is set out in Appendix II 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 to grant to the Directors the Repurchase Mandate at the AGM.
RE-ELECTION OF DIRECTORS
The Board currently consists of ten Directors, namely Ms. Yip Man Yi and Mr. Shiu Chi Tak, Titus, being the executive Directors, Mr. Liang Tongwei and Mr. Wong Chi Man, being the non-executive Directors, and Mr. Chu Hung Lin, Victor, Mr. Tong Wan Sze, Mr. Fung Kwok Leung, Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan, being the independent non-executive Directors.
Pursuant to Article 99 of the Articles of Association, any Director appointed to fill any casual vacancy or as an additional to the Board shall hold office until the next annual general meeting of the Company and that any Director who so retires shall not be taken into account in determining the
LETTER FROM THE BOARD
number of Directors who are to retire at such meeting by rotation pursuant to Article 116 of the Articles of Association. As such, Ms. Yip Man Yi, Mr. Shiu Chi Tak, Titus, Mr. Wong Chi Man, Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan shall retire at the AGM and being eligible, will offer themselves for re-election at the AGM.
Furthermore, pursuant to Article 116 of the Articles of Association, at each annual general meeting of the Company, one-third of the Directors for the time being shall retire from office by rotation, Mr. Chu Hung Lin, Victor shall retire by rotation at the AGM but he will not offer himself for re-election at the AGM.
Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan, being independent non-executive Directors, eligible for re-election at the AGM, have made an annual confirmation of independence pursuant to the independence guidelines set out in Rule 5.09 of the GEM Listing Rules. The Company is of the view that Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan are independent in accordance with the independence guidelines. Also, in view of their integrity, extensive knowledge and experience, the Company recommends Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan to be re-elected.
Brief biographical details of the Directors proposed for re-election are set out in Appendix I to this circular. Under ordinary resolution no. 2 set out in the Notice, the re-election of retiring Directors will be individually voted on by Shareholders.
REFRESHMENT OF THE SCHEME MANDATE LIMIT OF SHARE OPTION SCHEME
The Share Option Scheme was adopted by the Company on 30 July 2012. Under the rules of the Share Option Scheme, the total number of Shares which may be issued upon the exercise of all options granted under the Share Option Scheme is limited to 10% of the Company's issued share capital as at the date of refreshment of the Scheme Mandate Limit of the Share Option Scheme. At present, the Company does not operate any other share option scheme(s) other than the Share Option Scheme.
Under the rules of the Share Option Scheme:
(1) the overall limit on the number of Shares which may be issued upon the exercise of all outstanding options granted and yet to be exercised under the Share Option Scheme and any other share option scheme(s) of the Company must not exceed 30% of the Shares in issue from time to time;
(2) no options may be granted under the Share Option Scheme and any other share option scheme(s) of the Company if it results in the Scheme Mandate Limit being exceeded, unless approval of the Shareholders has been obtained. Options lapsed in accordance with the terms of the Share Option Scheme will not be counted for the purpose of calculating the Scheme Mandate Limit;
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LETTER FROM THE BOARD
(3) unless approved by the Shareholders at a general meeting, the total number of Shares issued and to be issued upon exercise of options granted to each eligible participant of the Share Option Scheme (including both exercised and outstanding options) in any twelve months period shall not exceed 1% of the issued share capital of the Company.
The Company may seek approval from the Shareholders in general meeting for refreshing the Scheme Mandate Limit. However, the total number of Shares which may be issued upon exercise of all options to be granted under the Share Option Scheme and any other share option scheme(s) of the Company as refreshed must not exceed 10% of the Share in issue as at the date of approval of the refreshed Scheme Mandate Limit. Options previously granted under the Share Option Scheme and any other share option scheme(s) of the Company (including options outstanding, cancelled, lapsed or exercised in accordance with the Share Option Scheme and any other share option scheme(s) of the Company) will not be counted for the purpose of calculating the Scheme Mandate Limit as refreshed.
The purposes of the Old Share Option Scheme and the Share Option Scheme are to provide opportunities and incentives to the eligible participants for their contribution to work towards enhancing values of the Group. Eligible participants include all full time employees, Directors (including independent non-executive Directors) and part time employees with weekly working hours of 10 hours and above, of the Group, substantial Shareholders of each member of the Group, close associates of the Directors and substantial shareholders of any member of the Group, trustee of any trust pre-approved by the Board; and any advisor (professional or otherwise), consultant, distributor, supplier, agent, customer, joint venture partner, service provider to the Group whom the board of Directors considers, in its sole discretion, has contributed or contributes to the Group.
The Scheme Mandate Limit was refreshed by way of passing resolution in the annual general meeting on 24 July 2015. Since the adoption of the Old Share Option Scheme and the Share Option Scheme, there were 262,800 outstanding share options under Old Share Option Scheme and 83,750,000 outstanding share option under Share Option Scheme, therefore 84,012,800 outstanding share options in total, representing approximately 3.79% of the total numbers of 2,217,776,120 Shares in issue as at the date of refreshment. After refreshment, the Scheme Mandate Limit was 221,777,612 Shares. The Scheme Mandate Limit was then adjusted to 27,772,201 Shares after the Share Consolidation completed in April 2016.
Since the refreshment of the Scheme Mandate Limit, no share option under Old Share Option Scheme and 83,750,000 share options under Share Option Scheme were lapsed before Share Consolidation and no share option has been granted, exercised or cancelled under the Old Share Option Scheme and the Share Option Scheme. After the adjustment due to the Share Consolidation and Right Issue in May 2016 (which was announced by the Company in its announcement dated 17 May 2016) and as at the Latest Practicable Date, there are 75,934 outstanding options under Old Share Option Scheme and no outstanding option under Share Option Scheme entitling the holder thereof to subscribe for an aggregate of 75,934 Shares, representing approximately 0.003% of the total number of Shares in issue as at the Latest Practicable Date. None of these options granted have been exercised nor been cancelled. Unless the Scheme Mandate Limit is refreshed, only up to 27,696,267 Shares, representing approximately 0.97% of the total number of Shares in issue as at the Latest Practicable Date, may be issued pursuant to the grant of further options under the Share Option Scheme.
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LETTER FROM THE BOARD
If the refreshment of the Scheme Mandate Limit is approved at the AGM based on the total number of 2,845,998,135 Shares in issue as at the Latest Practicable Date and assuming no further Shares are issued and no Shares are repurchased after the Latest Practicable Date and up to the date of the AGM, the Directors will be able to grant options for up to a total of 284,599,813 Shares under the refreshed Scheme Mandate Limit, representing 10% of the total number of Shares in issue as at the date of the AGM. Assuming no further Shares are issued and no Shares are repurchased after the Latest Practicable Date and up to the date of the AGM, the total number of Shares which may be issued upon exercise of the refreshed Scheme Mandate Limit of 284,599,813 Shares together with all outstanding options as at the Latest Practicable Date carrying the right to subscribe 75,934 Shares is 284,675,747 Shares, representing approximately 10% of the total number of Shares in issue as at the date of the AGM which does not exceed the 30% limit as required by the GEM Listing Rules.
The refreshment of the Scheme Mandate Limit is conditional upon:
- the passing of an ordinary resolution by the Shareholders to approve the refreshment of the Scheme Mandate Limit at the AGM; and
- the Stock Exchange granting the listing of, and the permission to deal in, such number of Shares representing 10% of the issued share capital of the Company as at the date of the AGM.
The Directors consider that it is in the interests of the Company to refresh the Scheme Mandate Limit to permit the grant of further options under the Share Option Scheme. The Directors will propose the passing of an ordinary resolution at the AGM for refreshing the Scheme Mandate Limit.
Application will be made to the Stock Exchange for the listing of, and permission to deal in, any Shares, approving the refreshed Scheme Mandate Limit, to be issued upon the exercise of the options granted under the refreshed Scheme Mandate Limit of the Share Option Scheme.
ANNUAL GENERAL MEETING
The AGM shall be held at Ocean I, 1/F., Auberge Discovery Bay Hong Kong, 88 Siena Avenue, Discovery Bay, Lantau Island, Hong Kong on Tuesday, 26 July 2016 at 8:30 a.m. for the purpose of considering and if thought fit, approving the resolutions to, among others, adopt the proposals for re-election of Directors, approving the grant of the Issue Mandate, the Repurchase Mandate and the Extension Mandate and refreshment of the Scheme Mandate Limit of Share Option Scheme as set out in the Notice.
According to rule 17.47(4) of the GEM Listing Rules, all resolutions at general meeting must be taken by poll. The chairman of the AGM will demand that a poll be taken in respect of each of the resolutions to be proposed at the AGM for the approval of the ordinary business of an annual general meeting, the re-election of Directors, the grant of the Issue Mandate, the Repurchase Mandate and the Extension Mandate and refreshment of the Scheme Mandate Limit of Share Option Scheme. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, no Shareholder will be required to abstain from voting on any resolutions to be approved at the AGM.
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LETTER FROM THE BOARD
GENERAL INFORMATION
The Notice is set out on page 18 to 22 of this circular.
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 requested to complete and return the form of proxy in accordance with the instructions printed thereon to the Company’s share registrar in Hong Kong, Tricor Tengis Limited, at Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong as soon as possible and in any event not less than 48 hours before the time appointed for holding the AGM or any adjourned meeting. Completion and deposit of the form of proxy will not preclude you from attending and voting at the AGM or any adjourned meeting should you so wish.
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.
RECOMMENDATION
The Board considers that (i) the resolution relating to the Issue Mandate; (ii) the resolution relating to the Repurchase Mandate; (iii) the resolution relating to the extension of the Issue Mandate; (iv) the resolution relating to the re-elections of Directors; and (v) the refreshment of the Scheme Mandate Limit to be put forward at the AGM are in the best interests of the Company and the Shareholders as a whole. Accordingly, the Board therefore recommends all Shareholders to vote in favour of all resolutions to be proposed at the AGM.
By Order of the Board
Union Asia Enterprise Holdings Limited
Yip Man Yi
Chairman
APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
The biographical details of the Directors proposed for re-election at the AGM are set out as follow:
- MS. YIP MAN YI — EXECUTIVE DIRECTOR
Ms. Yip Man Yi (“Ms. Yip”), aged 44, is an executive Director since 14 November 2015, the compliance officer of the Company since 1 December 2015 and the chairman of the Company since 31 December 2015. Ms. Yip graduated from Seneca College of Applied Arts and Technology, Toronto, Canada and has over 18 years’ experience in financial market and money market. Ms. Yip has worked with HSBC Market (Asia) Limited for Global Markets and company listed on the Main Board of the Stock Exchange who was actively involved in formulating investment strategy and was responsible for overseeing the management operations of various investment projects. Ms. Yip also has experience in the management of listed company at Hong Kong. She was a chairman and an executive director and a member of the remuneration committee of Evershine Group Holdings Limited (formerly known as TLT Lottotainment Group Limited) (stock code: 8022), a company listed on the GEM for the period from 10 April 2012 to 2 October 2013. She was a managing director and an executive director of Unity Investments Holdings Limited (stock code: 913), a company listed on the Main Board of the Stock Exchange for the period from 7 October 2013 to 29 November 2013.
Ms. Yip has entered into a service agreement with the Company. Ms. Yip is not appointed for a specific term but she is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Ms. Yip is entitled to a salary of HK$520,000 per annum with discretionary bonus. Such remuneration is covered in Ms. Yip’s service agreement with the Company. The remuneration of Ms. Yip is determined by Board with reference to her expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Ms. Yip is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
Ms. Yip is at present also a director of the following subsidiaries of the Company:
- Team Kingdom Limited;
- Bright Wise Enterprise Limited;
- Loyal Bright Finance Limited;
- Allied Power Global Limited;
- Topone Global Investments Limited;
- Ample Grace Holdings Limited;
- Express Glory Ltd;
APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
- Zhanhui Limited;
- Glorious Gold Holdings Limited;
- Black Sand Enterprises Limited;
- Brighton Asia Pacific Investment Holdings Limited;
- Black Sand International (Singapore) Pte. Ltd.; and
- Evotech Asia Pte. Ltd.
Save as disclosed above, Ms. Yip has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Ms. Yip does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Ms. Yip that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
2. MR. SHIU CHI TAK, TITUS — EXECUTIVE DIRECTOR
Mr. Shiu Chi Tak, Titus ("Mr. Shiu"), aged 34, is an executive Director since 14 November 2015 and the authorised representative of the Company since 1 December 2015. Mr. Shiu holds a Master of Science Degree in Marketing Management, The Hong Kong Polytechnic University. He has practical experiences in corporate finance projects for listed companies in Hong Kong including corporate advisories, mergers and acquisitions and fund raising activities.
Mr. Shiu has entered into a service agreement with the Company. Mr. Shiu is not appointed for a specific term but he is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Mr. Shiu is entitled to a salary of HK$325,000 per annum with discretionary bonus. Such remuneration is covered in Mr. Shiu's service agreement with the Company. The remuneration of Mr. Shiu is determined by Board with reference to his expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Mr. Shiu is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
Mr. Shiu is at present also a director of the following subsidiaries of the Company:
- Team Kingdom Limited;
- Bright Wise Enterprise Limited;
APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
- Loyal Bright Finance Limited;
- Allied Power Global Limited;
- Topone Global Investments Limited;
- Ample Grace Holdings Limited;
- Express Glory Ltd;
- Zhanhui Limited;
- Glorious Gold Holdings Limited;
- Black Sand Enterprises Limited;
- Brighton Asia Pacific Investment Holdings Limited;
- Black Sand International (Singapore) Pte. Ltd.; and
- Evotech Asia Pte. Ltd.
Save as disclosed above, Mr. Shiu has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Mr. Shiu does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Mr. Shiu that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
3. MR. WONG CHI MAN — NON-EXECUTIVE DIRECTOR
Mr. Wong Chi Man ("Mr. Wong"), aged 33, is a non-executive Director since 13 October 2015. Mr. Wong is currently an associate director of a licensed securities dealer in Hong Kong. Mr. Wong has over 7 years of experience in the field of investment, finance and securities advisory. He holds a Master of Applied Finance degree from Monash University and a Bachelor degree in Commerce from Deakin University, Australia. Besides, Mr. Wong was the non-executive director of Merdeka Financial Services Group Limited (formerly known as Merdeka Mobile Group Limited) (Stock Code: 8163), a company listed on the GEM of the Stock Exchange, for the period from 24 August 2012 to 27 November 2015.
Mr. Wong has entered into a service agreement with the Company for a term of one year and he is subject to retirement by rotation and re-election at the annual general meeting of the Company in
APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
accordance with the Articles of Association. Mr. Wong is entitled to a salary of HK$180,000 per annum without any discretionary bonus. Such remuneration is covered in Mr. Wong’s service agreement with the Company. The remuneration of Mr. Wong is determined by Board with reference to his expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Mr. Wong is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
Save as disclosed above, Mr. Wong has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Mr. Wong does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Mr. Wong that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
4. DR. WAN HO YUEN, TERENCE — INDEPENDENT NON-EXECUTIVE DIRECTOR
Dr. Wan Ho Yuen, Terence (“Dr. Wan”), aged 48, is an independent non-executive Director since 14 November 2015 and a member of the audit committee, the remuneration committee and the nomination committee of the Company since 31 December 2015 and is currently the director of an accounting firm based in Hong Kong. Dr. Wan was an independent non-executive director of China National Culture Group Limited (formerly known as China Railsmedia Corporation Limited) (stock code: 745), a company listed on the Main Board of the Stock Exchange from 17 January 2014 to 9 April 2015 and Dr. Wan is also an independent non-executive director of Tai Shing International (Holdings) Limited, a company listed on the GEM (stock code: 8103) since 31 December 2015. Dr. Wan obtained a bachelor of law degree from Tsing Hua University, the PRC in January 2004; and a doctorate degree of philosophy in business administration from Bulacan State University, Philippines in May 2006. Dr. Wan is a certified public accountant (Practicing) of Hong Kong Institute of Certified Public Accountants. Dr. Wan has over 10 years of experiences in taxation advisory, business management and accounting with several professional accounting firms and companies.
Dr. Wan has entered into a service agreement with the Company for a term of one year and he is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Dr. Wan is entitled to a salary of HK$180,000 per annum without any discretionary bonus. Such remuneration is covered in Dr. Wan’s service agreement with the Company. The remuneration of Dr. Wan is determined by Board with reference to his expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Dr. Wan is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
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APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
Save as disclosed above, Dr. Wan has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Dr. Wan does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Dr. Wan that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
5. MR. LI KWOK CHU — INDEPENDENT NON-EXECUTIVE DIRECTOR
Mr. Li Kwok Chu ("Mr. Li"), aged 59, is an independent non-executive Director, the chairman of the nomination committee and a member of the audit committee and the remuneration committee of the Company since 31 December 2015. Mr. Li is the chairman and chief executive officer of Pakco Group and he has rich experience in administration and management field. Prior to Mr. Li joining Pakco Group, he was the managing director of Pakco Security (HK) Limited. He was an independent non-executive director of Evershine Group Holdings Limited (formerly known as TLT Lottotainment Group Limited) (stock code: 8022), a company listed on the GEM, for the period from 16 March 2012 to 31 October 2013.
Mr. Li has entered into a service agreement with the Company for a term of one year and he is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Mr. Li is entitled to a salary of HK$120,000 per annum without any discretionary bonus. Such remuneration is covered in Mr. Li's service agreement with the Company. The remuneration of Mr. Li is determined by Board with reference to his expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Mr. Li is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
Save as disclosed above, Mr. Li has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Mr. Li does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Mr. Li that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
6. MR. LAU SHU YAN — INDEPENDENT NON-EXECUTIVE DIRECTOR
Mr. Lau Shu Yan ("Mr. Lau"), aged 34, is an independent non-executive Director and a member of each of the audit committee, the remuneration committee and the nomination committee of the
APPENDIX I
BIOGRAPHICAL DETAILS OF THE DIRECTORS PROPOSED FOR RE-ELECTION AND ELECTION
Company since 31 December 2015. Mr. Lau graduated from the University of Newcastle in United Kingdom with a bachelor's degree in Accounting and Financial Analysis. He is a Certified Public Accountant (Practicing) of the Hong Kong Institute of Certified Public Accountants and a member of the Association of Chartered Certified Accountants. Mr. Lau has over 10 years of experience in finance, auditing and accounting fields. Mr. Lau had previously worked in an international accounting firm and he is currently a partner of an audit firm. He was an independent non-executive director of Evershine Group Holdings Limited (formerly known as TLT Lottotainment Group Limited) (stock code: 8022), a company listed on the GEM of the Stock Exchange, for the period from 11 July 2012 to 16 January 2014.
Mr. Lau has entered into a service agreement with the Company for a term of one year and he is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Articles of Association. Mr. Lau is entitled to a salary of HK$120,000 per annum without any discretionary bonus. Such remuneration is covered in Mr. Lau's service agreement with the Company. The remuneration of Mr. Lau is determined by Board with reference to his expected duties and responsibilities and the prevailing market conditions.
As at the Latest Practical Date, Mr. Lau is not interested in the share capital of the Company within the meaning of Part XV of the SFO.
Save as disclosed above, Mr. Lau has not held any position with the Company or any of its subsidiaries and has not held any other major appointment or any directorships in any other listed public companies in the last three years. Mr. Lau does not have any relationship with any directors, senior management, substantial shareholders and controlling shareholders of the Company.
Save as disclosed above, there are no other matter concerning the appointment of Mr. Lau that needs to be brought to the attention of the Stock Exchange and shareholders of the Company nor is there any information that needs to be disclosed pursuant to the requirement of Rule 17.50(2)(h) to (v) of the GEM Listing Rules.
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APPENDIX II
EXPLANATORY STATEMENT FOR THE REPURCHASE MANDATE
This is an explanatory statement given to all Shareholders relating to the resolution no. 4B as set out in the Notice to be proposed at the AGM granting the Repurchase Mandate.
This explanatory statement contains all the information required by the GEM Listing Rules which is set out as follows:
- EXERCISE OF THE REPURCHASE MANDATE
As at the Latest Practicable Date, the issued and fully-paid share capital of the Company comprised 2,845,998,135 Shares.
Subject to the passing of resolution no. 4B as set out in the Notice and on the basis that no further Shares are issued or repurchased by the Company prior to the AGM, the Company would be allowed under the Repurchase Mandate to repurchase a maximum of 284,599,813 Shares (which amounts to 10% of the issued and fully paid share capital of the Company as at the Latest Practicable Date) during the period from the date of passing of resolution no. 4B as set out in the Notice 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 any applicable laws or the Articles of Association to be held; or (iii) the revocation, variation or renewal of the Repurchase Mandate by ordinary resolution of the Shareholders in a general meeting of the Company, whichever occurs first.
- REASONS FOR REPURCHASES
Although the Directors have no present intention of repurchasing any Shares, the Directors believe that the granting of the Repurchase Mandate is in the best interests of the Company and the Shareholders. Such repurchases may, depending on market conditions and funding arrangements at the time, lead to an enhancement of the net asset value and/or earnings per Share and will only be made when the Directors believe that such repurchase will benefit the Company and the Shareholders.
- FUNDING OF REPURCHASES
In repurchasing Shares, the Company may only apply funds legally available for such purpose in accordance with the Memorandum and Articles of Association, and the applicable laws and regulations of the Cayman Islands. The Company may not purchase securities 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.
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APPENDIX II
EXPLANATORY STATEMENT
FOR THE REPURCHASE MANDATE
4. IMPACT ON WORKING CAPITAL OR GEARING POSITION
The Directors consider that 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 audited financial statements contained in the Annual Report) in the event that the Repurchase Mandate is exercised in full. However, the Directors do not propose to exercise the 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 its gearing levels which in the opinion of the Directors are from time to time appropriate for the Company.
5. PRICE OF THE SHARES
The highest and lowest prices at which the Shares were traded on the GEM during each of the previous twelve months before the Latest Practicable Date were as follows:
| Shares | ||
|---|---|---|
| Highest HK$ | Lowest HK$ | |
| June 2015 | 1.152* | 0.711* |
| July 2015 | 0.864* | 0.346* |
| August 2015 | 0.691* | 0.372* |
| September 2015 | 0.438* | 0.259* |
| October 2015 | 0.346* | 0.181* |
| November 2015 | 0.222* | 0.150* |
| December 2015 | 0.153* | 0.115* |
| January 2016 | 0.135* | 0.109* |
| February 2016 | 0.130* | 0.058* |
| March 2016 | 0.230* | 0.069* |
| April 2016 | 0.405* | 0.124* |
| May 2016 | 0.330 | 0.037 |
| From 1 June 2016 to the Latest Practicable Date | 0.050 | 0.035 |
- After adjustment, upon the completion of the share consolidation of the Company on 11 April 2016.
6. UNDERTAKING
The Directors have undertaken to the Stock Exchange that, they will exercise the Repurchase Mandate in accordance with the GEM Listing Rules, the Memorandum and Articles of Association of the Company and the applicable laws and regulations of the Cayman Islands.
APPENDIX II
EXPLANATORY STATEMENT FOR THE REPURCHASE MANDATE
None of the Directors nor, to the best of their knowledge having made all reasonable enquiries, any of their close associates (as defined in the GEM Listing Rules), has any present intention to sell any Shares to the Company under the Repurchase Mandate if such is approved by the Shareholders. As at the Latest Practicable Date, no core connected person (as defined in the GEM Listing Rules) of the Company has notified the Company that he/she/it has a present intention to sell his/her/its Shares to the Company, nor has undertaken not to do so, in the event that the Repurchase Mandate is approved by the Shareholders.
7. EFFECT OF THE TAKEOVERS CODE
If a Shareholder’s proportionate interest in the voting rights of the Company increases as a result of a share repurchase, such increase will be treated as an acquisition for the purposes of Rule 32 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(s) obliged to make a mandatory offer in accordance with Rule 26 of the Takeovers Code.
As at the Latest Practicable Date, to the best of the knowledge and belief of the Company, there is no Shareholder who have an interest in 5% or more of the issued share capital of the Company. Save as mentioned, the Directors are not aware of any consequence which may arise under the Takeovers Code as a result of any purchase to be made under the Repurchase Mandate. If the Repurchase Mandate is exercised, the Directors will exercise to the extent that is considered in the best interests of the Company. However, the Directors have no present intention to exercise the Repurchase Mandate to such an extent as would result in takeover obligations or would have a material impact on the Group, as at the Latest Practicable Date.
The GEM Listing Rules prohibit a company from making repurchase on the Stock Exchange if the repurchase would result in that less than 25% (or such other prescribed minimum percentage as determined by the Stock Exchange) of the total issued Shares in issue would be held by public hands. The Directors do not propose to repurchase Shares which would result in less than the prescribed minimum percentage of Shares in public hands.
8. SHARE PURCHASE MADE BY THE COMPANY
No purchases of Shares have been made by the Company in the previous six months preceding the Latest Practicable Date, whether on the Stock Exchange or otherwise.
NOTICE OF AGM
UNION ASIA ENTERPRISE HOLDINGS LTD 萬亞企業控股有限公司
(Formerly known as Pan Asia Mining Limited)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8173)
NOTICE IS HEREBY GIVEN that the annual general meeting of the shareholders of Union Asia Enterprise Holdings Limited (the "Company") will be held at Ocean I, 1/F., Auberge Discovery Bay Hong Kong, 88 Siena Avenue, Discovery Bay, Lantau Island, Hong Kong on Tuesday, 26 July 2016 at 8:30 a.m. (the "AGM") for the following purposes:
-
To receive and adopt the audited financial statements and the reports of the directors (the "Directors") and auditors of the Company for the year ended 31 March 2016.
-
(a) To re-elect the retiring Directors, Ms. Yip Man Yi, Mr. Shiu Chi Tak, Titus, Mr. Wong Chi Man, Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan the biographical details of the Directors proposed to be re-elected at the AGM are set out in the circular of the Company dated 24 June 2016.
(b) To authorize the board of directors of the Company (the "Board") to fix the Directors' remuneration.
-
To re-appoint auditors of the Company and to authorise the Board to fix their remuneration.
-
As special business, to consider and, if thought fit, pass with or without amendments, the following resolutions as ordinary resolutions:
ORDINARY RESOLUTIONS
A. "THAT:
(a) subject to paragraph (c) of this resolution and pursuant to the Rules Governing the Listing of Securities on the Growth Enterprise Market ("GEM") of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the exercise by the directors of the Company (the "Directors") during the Relevant Period (as defined in paragraph (d) of this resolution) of all the powers of the Company to allot, issue and deal with additional shares in the capital of the Company (the "Shares") and to make or grant offers, agreements and options which might require the exercise of such powers be and is hereby generally and unconditionally approved;
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NOTICE OF AGM
(b) the approval in paragraph (a) of this resolution and 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 total number of Shares allotted or agreed conditionally or unconditionally to be allotted (whether pursuant to options or otherwise) and issued or dealt with by the Company pursuant to the approval in paragraph (a) of this resolution, otherwise than pursuant to (i) a Rights Issue (as defined in paragraph (d) of this resolution), (ii) the exercise of the right of subscription or conversion attaching to any warrants issued by the Company or any securities which are convertible into Shares, (iii) the exercise of any options under the Share Option Scheme of the Company or any other option scheme or similar arrangement for the time being adopted for the grant or issue to eligible persons of options to subscribe for, or rights to acquire Shares or, (iv) any scrip dividend or similar arrangement providing for the allotment of Shares in lieu of the whole or part of the cash payment for any dividend on Shares pursuant to the articles of association of the Company in force from time to time, shall not in aggregate exceed 20 per cent of the total number of Shares in issue as at the date of passing this resolution and the approval in paragraph (a) of this resolution shall be limited accordingly; and
(d) the purpose of this resolution:
"Relevant Period" means the period from the date of 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 of the Company or any applicable laws of the Cayman Islands to be held; and
(iii) the date on which the authority given under this resolution is revoked, varied or renewed by an ordinary resolution of the shareholders of the Company in a general meeting.
"Rights Issue" means the allotment, issue or grant of Shares pursuant to an offer of Shares, or offer or issue of warrants, options or other securities giving rights to subscribe for 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 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 recognised regulatory body or any stock exchange applicable to the Company).
NOTICE OF AGM
B. "THAT:
(a) subject to paragraph (b) of this resolution, the exercise by the Directors during the Relevant Period (as defined in paragraph (c) of this resolution) of all the powers of the Company to repurchase the Shares on the GEM or any other stock exchange on which the Shares may be listed and which is recognised by the Securities and Futures Commission of Hong Kong (the "Securities and Futures Commission") and the Stock Exchange for such purpose, in accordance with the rules and regulations of the Securities and Futures Commission, the Stock Exchange or of any such other stock exchange from time to time and all applicable laws in this regard, be and is hereby generally and unconditionally approved;
(b) the aggregate nominal amount of Shares which may be repurchased by the Company pursuant to the approval in paragraph (a) of this resolution during the Relevant Period shall not exceed 284,599,813 Shares, being 10 per cent of the total number of issued Shares as at the date of 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 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 of the Company or any applicable laws of the Cayman Islands to be held; and
(iii) the date on which the authority given under this resolution is revoked, varied, or renewed by an ordinary resolution of the shareholders of the Company in a general meeting."
C. "THAT subject to the passing of the ordinary resolutions Nos. 4A and 4B as set in the notice convening this meeting, the unconditional general mandate granted to the Directors to exercise the powers of the Company to allot, issue and deal with additional Shares and to make or grant offers, agreements and option pursuant to resolution No. 4A as set in the notice convening this meeting be and is hereby extended by the addition thereto of a number of shares representing the total number of Shares repurchased by the Company under the authority granted pursuant to resolution No. 4B as set in the notice convening this meeting, provided that such amount shall not exceed 10 per cent of the total number of issued Shares as at the date of passing of this resolution."
- "THAT subject to and conditional upon the granting by the Listing Committee of the Stock Exchange granting the listing of, and permission to deal in, the Shares to be issued pursuant to the exercise of options granted under the refreshed scheme mandate limit (the "Scheme Mandate
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NOTICE OF AGM
Limit”) under the share option scheme approved and adopted by the Company on 30 July 2012 in the manner as set out in paragraph (a) of this resolution below,
(a) the refreshment of the Scheme Mandate Limit of up to 10% of the Shares in issue as at the date of passing of this resolution be and is hereby approved; and
(b) the Directors be and are hereby authorised do all such acts and things and execute all such documents, including under seal where applicable, as they consider necessary or expedient to give effect to the foregoing arrangement.”
By Order of the Board
Union Asia Enterprise Holdings Limited
Yip Man Yi
Chairman
Hong Kong, 24 June 2016
Principal place of business in Hong Kong:
Units 3404-6, 34/F.,
AIA Tower,
183 Electric Road,
North Point,
Hong Kong
Notes:
-
Any member of the Company entitled to attend and vote at the AGM shall be entitled to appoint a person or persons (if he holds two or more Shares) as his proxy or proxies to attend and vote instead of him and a proxy so appointed shall have the same right as the member to speak at the AGM. A proxy need not be a member of the Company.
-
To be valid, a form of proxy together with any power of attorney or other authority (if any) under which it is signed or a notarially certified copy of such power or authority, must be delivered to the Company’s share registrar in Hong Kong, Tengis Limited, Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong not less than 48 hours before the time appointed for holding the AGM 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.
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NOTICE OF AGM
-
An explanatory statement containing further details regarding ordinary resolution No. 4B above as required by the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited has been dispatched to members of the Company together with the circular of the Company attaching this notice of AGM.
-
Completion and deposit of the form of proxy shall not preclude a shareholder from attending and voting in person at the AGM if the shareholder so desires and in such event the form of proxy shall be deemed to be revoked.
-
In the case of joint registered holders of any Share, any one of such joint registered holders may vote at the meeting, either in person or by proxy, in respect of such Share as if they were solely entitled thereto, but if more than one of such joint registered holders be present at the meeting, the vote of the senior who tenders a vote either personally or by proxy shall be accepted to the exclusion of the votes of the other joint registered holders and, for this purpose, seniority shall be determined by the order in which the names stand in the register in respect of the joint holding.
-
If Typhoon Signal No. 8 or above, or a "black" rainstorm warning is in effect any time after 7:00 a.m. on the date of the annual general meeting, the meeting will be postponed. The Company will post an announcement on the website of Company at http://www.unionasiahk.com and on the "Latest Company Announcements" page of the GEM website at www.hkgem.com to notify Shareholders of the date, time and place of the rescheduled meeting.
As at the date of this notice, the Board comprises two executive Directors, Ms. Yip Man Yi and Mr. Shiu Chi Tak, Titus, two non-executive Directors, Mr. Liang Tongwei and Mr. Wong Chi Man, and six independent non-executive Directors, Mr. Chu Hung Lin, Victor, Mr. Tong Wan Sze, Mr. Fung Kwok Leung, Dr. Wan Ho Yuen, Terence, Mr. Li Kwok Chu and Mr. Lau Shu Yan.
This notice, for which the directors of the Company (the "Directors") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquires, confirm that to the best of their knowledge and belief the information contained in this notice 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 notice misleading.
This notice will remain on the page of "Latest Company Announcement" on the GEM website for at least 7 days from the date of its posting and on the website of the Company www.unionasiahk.com.
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