Avarga shareholders back all resolutions, renew share issue mandate at 59th AGM

Avarga Limited ( (SG:X5N) ) has issued an announcement.

Avarga Limited secured strong shareholder backing at its 59th annual general meeting, with investors approving all ordinary resolutions, including the adoption of the 2025 financial statements and directors’ fees of up to S$500,000 for the 2026 financial year. Shareholders also endorsed the re-election of executive director and CEO Tong Ian and independent director Kevin Kang, reappointed CLA Global TS Public Accounting Corporation as auditors, and renewed the board’s mandate to issue new shares within prescribed limits, reinforcing the company’s capital flexibility and governance continuity.

The meeting proceeded smoothly, with no substantial pre-submitted questions from investors and no queries raised on the floor, indicating broad support for the board’s stewardship and the company’s current strategic direction. The renewed share issue authority, capped at 50 per cent of issued capital with tighter limits for non pro-rata placements, aligns Avarga with Singapore Exchange guidelines and preserves optionality for future fundraising or corporate actions without immediate dilution, offering management room to manoeuvre while signalling adherence to market best practices.

More about Avarga Limited

Avarga Limited is a Singapore-incorporated company listed on the local bourse, overseen by an executive-led board and a slate of independent directors. The firm maintains a traditional governance structure with an executive chairman, a chief executive officer and key management overseeing investments and group finance, reflecting a focus on disciplined capital allocation and compliance with Singapore corporate regulations.

Average Trading Volume: 23,125

Technical Sentiment Signal: Buy

Current Market Cap: S$142.6M

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