Lum Chang Creations will be holding an extraordinary general meeting (EGM) to be held on May 25 at the Orchard Rendezvous Hotel to seek shareholders’ approval for its proposed transfer to the Mainboard.
In its circular published on April 30, the company said it will be proposing a 1-for-1 bonus issue of up to 330 million new shares. Its issued and paid-up share capital currently comprises 315 shares.
The EGM will also see shareholders voting on the proposed amendments to the moratorium undertakings given by managing director Lim Thiam Hooi and its parent company Lum Chang Holdings, as well as the proposed adoption of the new share issue mandate.
The proposed amendment to the moratorium will allow Lim and Lum Chang Holdings to sell up to 7.7 million shares and 15 million shares respectively, as part of a placement to satisfy the minimum spread requirements.
As at April 30, Lim has 42 million shares in Lum Chang Creations representing a 10.5% stake, while Lum Chang Holdings has 224 million shares, or a 63.9% stake.
Lim said the company’s proposed transfer to the Mainboard represents a “pivotal milestone”.
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“This move is underpinned by an exceptional 1HFY2026 performance, with net profit more than doubling to $11.0 million and a robust order book of $132.0 million providing clear revenue visibility,” he notes.
“The Mainboard listing will broaden our access to investors and raise our profile amongst institutional investors. As we continue executing our urban revitalisation strategy and regional expansion plans, our enhanced listing status will provide the platform to improve our access to the equity markets and our ability to deliver sustainable, long-term value to all stakeholders.”
As at the mid-day break, shares in Lum Chang Creations traded 1.5 cents higher or 1.51% up at $1.01.
