MINISO Group Announces Results of Extraordinary General Meeting

(Neutral)

Rhea-AI Summary

MINISO Group (NYSE: MNSO; HKEX: 9896) announced that its extraordinary general meeting (EGM) was successfully held in Hong Kong on January 17, 2025. The shareholders approved all proposed resolutions related to the company's planned acquisition of shares in Yonghui Superstores Co., . The company expects to finalize the acquisition once all remaining closing conditions outlined in the share purchase agreements are either satisfied or waived.

Positive

Shareholder approval obtained for strategic acquisition of Yonghui Superstores
Successful completion of key corporate governance milestone

Negative

None.

News Market Reaction – MNSO

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+2.57% Session move

In the trading session that priced this news, MNSO gained 2.57%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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01/17/2025 - 04:00 AM

GUANGZHOU, China, Jan. 17, 2025 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that the previously announced extraordinary general meeting of the Company's shareholders (the "EGM") to seek shareholder approval for the proposed acquisition of shares of Yonghui Superstores Co., Ltd was held in Hong Kong today. All the proposed resolutions submitted for shareholder approval set out in the EGM notice were duly adopted by the shareholders of the Company at the EGM.

Following the EGM, the Company expects to complete the proposed acquisition after the satisfaction or waiver of the other closing conditions in accordance with the relevant share purchase agreements.

About MINISO Group

MINISO Group is a global value retailer offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized consuming brand and established a massive store network worldwide. For more information, please visit https://ir.miniso.com/.

Investor Relations Contact:

MINISO Group Holding Limited
Email: ir@miniso.com
Phone: +86 (20) 36228788 Ext.8039

View original content:https://www.prnewswire.com/news-releases/miniso-group-announces-results-of-extraordinary-general-meeting-302354113.html

SOURCE MINISO Group Holding Limited

FAQ

What was the outcome of MINISO's (MNSO) extraordinary general meeting on January 17, 2025?

All proposed resolutions were approved by shareholders, including the acquisition of shares in Yonghui Superstores Co.,

When will MINISO (MNSO) complete the Yonghui Superstores acquisition?

The acquisition will be completed after all closing conditions in the share purchase agreements are satisfied or waived.

What was the purpose of MINISO's (MNSO) extraordinary general meeting in January 2025?

The EGM was held to seek shareholder approval for the proposed acquisition of shares in Yonghui Superstores Co.,

Where was MINISO's (MNSO) extraordinary general meeting held in January 2025?

The extraordinary general meeting was held in Hong Kong on January 17, 2025.