Gelonghui, Feb. 6 | Shanyu Group Holdings (08245.HK) announced that the board of directors proposed to renew the current general mandate to allocate, issue and process new shares equivalent to up to 20% of the company's issued share capital on the day the special shareholders' meeting passed the relevant resolution. According to section 17.42A of the GEM listing rules, the granting of a new general mandate must be approved by independent shareholders by an ordinary resolution at the special shareholders' meeting before it can actually take effect.

The company will hold a special general meeting of shareholders to consider and pass ordinary resolutions as appropriate to approve the granting of new general mandates. The Independent Board Committee consists of all independent non-executive directors Mr. Cai Benli, Ms. Ye Shanlan, and Mr. Yu Libin. It was established to advise independent shareholders on the granting of new general mandates. Ronggao Financial has been appointed as an independent financial advisor to advise the Independent Board Committee and independent shareholders on the granting of new general mandates.