KVB Kunlun to put proposed name change to vote at EGM on October 29th
The brokerage announces that an Extraordinary General Meeting will be held at on Tuesday, October 29, 2019.
Shortly after Hong Kong-focused retail Forex broker KVB Kunlun Financial Group Ltd (HKG:6877) unveiled its intentions to change its name, the company has announced the date of an Extraordinary General Meeting where the proposed change would be put to vote.
Today, KVB Kunlun said that an Extraordinary General Meeting will be held at Suites 7501 & 7508, 75/F., International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong on Tuesday, 29 October 2019 at 10:30 a.m. The list of resolutions include the change of the company’s name from “KVB Kunlun Financial Group Limited” to “CLSA Premium Limited”, as well as amending the Memorandum of Association and the Articles of Association of the company by replacing all references to the current name of the company with “CLSA Premium Limited” to reflect the name change.
Explaining the rationale for the planned change, the Board says the new name will better reflect the fact that KVB Kunlun is part of the substantial shareholder’s group of entities, including CLSA group. Furthermore, the Board believes that the new name will provide the company with a fresh corporate image and identity, which will benefit the Group’s future business development and is in the interest of the company and its shareholders.
In addition, given that there are unaffiliated entities that are using a similar name and conducting similar business as the company, changing the name would remove any confusion that may cause to the public. The rebranding will be part of the company’s new plan and vision to better utilize and capitalize on the business know-how and potential synergies with CLSA group and its affiliates.
The proposed name change is not set to affect any rights of the holders of securities of the company or the company’s daily business operation and/or its financial position. There will be a change of stock short name but the rest of the trading arrangements for the company’s shares on The Stock Exchange of Hong Kong Limited will not be affected.