CHI KINGSTONE (01380) has received a declaration demanding the convening of a special shareholders' meeting to dismiss and appoint directors.

CHI KINGSTONE (01380) announced that on January 8, 2025, the company received a notice (requisition notice) from Advance Opportunities Fund I, claiming to be a beneficial owner of not less than ten percent of the total issued share capital of the company, and requesting the Board of Directors to convene a special general meeting of the company in accordance with Article 62 of the company's articles of association and Section 74 of the Companies Act 1981 of Bermuda. The purpose of the meeting is to consider and possibly pass the following resolutions (claimed requests): 1. To remove all current directors from their director positions except Mr. Andreas Varianos; 2. To appoint Mr. Koo Ah Seang as an executive director; 3. To appoint Mr. Mark Leong Kei Wei as an independent non-executive director; and 4. To appoint Mr. Chong Chee Hoong as an independent non-executive director. The requisition notice does not provide reasons or grounds for the claimed requests. According to Article 62 of the articles of association, the Board of Directors may convene a special general meeting when it deems appropriate, and the special general meeting should be convened as required by the company's regulations, if not convened as required, the meeting can be convened by the requisitioner. The Board of Directors is currently seeking professional advice to determine whether the procedures related to the claimed requests are compliant and the appropriate actions to be taken.