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Digital China Holdings ( (HK:0861) ) has shared an announcement.
Digital China Holdings has received a requisition from Guangzhou City Investment Jiazi Investment Partnership, which holds about 17.57% of its issued share capital via HKSCC Nominees, demanding that the company convene a special general meeting to vote on amendments to its bye-laws. The proposed changes would require that major transactions, very substantial disposals and acquisitions, extreme transactions and reverse takeovers be approved by shareholders by way of special resolutions at general meetings, effectively raising the approval threshold for large corporate actions; however, a majority of the board, excluding two non-executive directors representing the requisitioning shareholder, has stated that it believes these amendments are not in the interests of the company or its shareholders as a whole. The board is seeking legal advice on how to proceed and plans to issue a circular with further details and a notice of the special general meeting to shareholders in due course, signaling a potential governance tussle that could affect how the company executes future strategic transactions.
The most recent analyst rating on (HK:0861) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Digital China Holdings stock, see the HK:0861 Stock Forecast page.
More about Digital China Holdings
Digital China Holdings Limited is a Hong Kong-listed technology group focused on digital solutions and IT services, operating through a board comprising executive, non-executive and independent non-executive directors. The company serves the mainland China and broader Greater China markets through its digital infrastructure, cloud, and related technology businesses, and is controlled through a shareholding structure that includes significant institutional and strategic investors.
Average Trading Volume: 2,855,009
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$4.14B
See more insights into 0861 stock on TipRanks’ Stock Analysis page.