Exhibit
99.1
CBL
INTERNATIONAL LIMITED
NOTICE
OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
TO
BE HELD ON APRIL 28, 2026
To
the Shareholders of CBL International Limited:
NOTICE
IS HEREBY GIVEN that an annual general meeting (the “Annual General Meeting”) of shareholders (the “Shareholders”)
of CBL International Limited (the “Company”), an exempted Cayman Islands company, will be held at Level 23-2, Menara
Permata Sapura, Kuala Lumpur City Centre, 50088 Kuala Lumpur, Malaysia on April 28, 2026, at 10:00 a.m., Malaysia time (MYT), for the
purposes of considering and voting upon, and if thought fit, passing and approving the following resolutions:
| 1. |
To
approve, by separate ordinary resolutions, the election and re-election of the following persons as directors of the Company (the
“Directors”) to serve for a three-year term or until they cease to be Director in accordance with the articles
of association of the Company: |
| |
a. |
Mr.
Yuan He |
| |
b. |
Dr.
Teck Lim Chia |
| |
c. |
Mr.
Khai Fei Wong |
| 2. |
To
ratify, by ordinary resolution, the appointment of MRI Moores Rowland LLP (“MRI”) as the Company’s independent
registered public accounting firm for the fiscal year ended December 31, 2025, and to authorize the Board of Directors to fix the
remuneration of MRI. |
| 3. |
To
transact such other business as may properly come before the meeting. |
You
can find more information about each of these items in the attached proxy statement. Only Shareholders registered in the register of
members at the close of business on April 2, 2026, New York time, can vote at the Annual General Meeting or at any adjournment that may
take place.
We
cordially invite all Shareholders to attend the Annual General Meeting in person.
However,
Shareholders entitled to attend and vote are entitled to appoint a proxy to attend and vote instead of such holders. A proxy need not
be a Shareholder. If you are a Shareholder and whether or not you expect to attend the Annual General Meeting in person, please mark,
date, sign and return the enclosed form of proxy as promptly as possible to ensure your representation and the presence of a quorum at
the Annual General Meeting. If you send in your form of proxy and then decide to attend the Annual General Meeting to vote in person,
you may still do so. Your proxy is revocable in accordance with the procedures set forth in the proxy statement. The enclosed form of
proxy shall be delivered in accordance with the instructions set forth in “Voting by Shareholders” in the proxy statement.
This notice of the Annual General Meeting of Shareholders and the attached proxy statement are also available through our website at
www.banle-intl.com.
Level
23-2, Menara Permata Sapura,
Kuala
Lumpur City Centre,
50088
Kuala Lumpur
Malaysia
Telephone:
60-3-2706-8280
| |
By
Order of the Board |
| |
|
| |
/s/
Teck Lim Chia |
| |
Teck
Lim Chia |
| |
Chief
Executive Officer |
Date: March
31, 2026
CBL
INTERNATIONAL LIMITED
PROXY
STATEMENT
FOR
ANNUAL
GENERAL MEETING OF SHAREHOLDERS
TO
BE HELD ON APRIL 28, 2026
Date,
Time and Place of the Annual General Meeting
The
enclosed proxy is solicited by the board (the “Board”) of directors (the “Directors”) of CBL International
Limited (the “Company”), an exempted Cayman Islands company, in connection with the annual general meeting of shareholders
of the Company (the “Annual General Meeting”) to be held at Level 23-2, Menara Permata Sapura, Kuala Lumpur City Centre,
50088 Kuala Lumpur, Malaysia on April 28, 2026 at 10:00 a.m., Malaysia time (MYT), and any adjournments thereof, for the purposes set
forth in the accompanying notice of Annual General Meeting.
Record
Date, Share Ownership and Quorum
Only
record holders (the “Shareholders”) of Class A ordinary shares (the “Class A Ordinary Shares”)
and Class B ordinary shares (the “Class B Ordinary Shares” and together with the Class A Ordinary Shares, the “Ordinary
Shares”) of the Company as of the close of business on April 2, 2026, New York time, are entitled to vote at the Annual General
Meeting. As of April 2, 2026, 27,500,327 of our Ordinary Shares, par value US$0.0001 per share were issued and outstanding. Two or more
Shareholders which represent, in aggregate, not less than 50% of the paid up voting shares of the Company present in person or by proxy
or, if a corporation or other non-natural person, by its authorized representative shall be a quorum for all purposes.
Difference
between Holding Shares as a “Shareholder of Record” and “Beneficial Owner” (or in “Street Name”)
Most
Shareholders are considered “beneficial owners” of their shares, that is, they hold their shares through a brokerage firm,
bank, dealer or other nominee rather than directly in their own name. As summarized below, there are some distinctions between shares
held of record and those owned beneficially or in “street name”.
Shareholder
of record
If,
on the record date, your Ordinary Shares were registered directly in your name with our transfer agent, VStock Transfer, LLC, then you
are the “shareholder of record” with respect to those Ordinary Shares. As a shareholder of record, you may vote at the Annual
General Meeting or vote by proxy.
Beneficial
Owner
If,
on the record date, your Ordinary Shares were held in an account at a brokerage firm, bank, dealer or other nominee, then you are the
“beneficial owner” of shares held in “street name”. The brokerage firm, bank, dealer or other nominee holding
your Ordinary Shares is considered the shareholder of record for purposes of voting at the Annual General Meeting; provided, however,
as a beneficial owner, you have the right to direct your brokerage firm, bank, dealer or other nominee on how to vote the shares in your
account.
Voting
Each
Class B Ordinary Share shall be entitled to one (1) vote and each Class A Ordinary Share shall be entitled to ten (10) votes on all matters
subject to the vote at the Annual General Meeting.
At
the Annual General Meeting, every Shareholder present in person or by proxy may vote the fully paid Ordinary Shares held by such Shareholder.
The chairman of the Annual General Meeting will exercise his rights under the articles of association of the Company (the “Articles
of Association”) and request that each of the resolutions proposed be voted upon through a poll. The affirmative vote of a
simple majority of the votes cast by the Shareholders will be required to pass each of the proposed resolutions submitted to a vote at
the Annual General Meeting.
Voting
by Shareholders
Shareholders
whose shares are registered in their own names may vote by attending the Annual General Meeting in person or by completing, dating, signing
and returning the enclosed form of proxy by one of the methods set forth on the proxy card, by post in the postage-paid envelope we have
provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717 or email to investors@banle-intl.com.
Alternatively, shareholders can opt to follow the instructions provided by their respective bank or broker for voting. The form of proxy
must arrive no later than April 24, 2026 at 11:59 am Malaysia Time.
When
proxies are properly completed, dated, signed and returned by Shareholders, the Ordinary Shares they represent, unless the proxies are
revoked, will be voted at the Annual General Meeting in accordance with the instructions of the Shareholder. If no specific instructions
are given by such Shareholders, the proxy holder will have discretion to vote on each proposal and as to other matters that may properly
come before the Annual General Meeting. Abstentions and broker non-votes will be counted as present for purposes of determining whether
a quorum is present.
Beneficial
owners can only vote through their brokerage firm, bank, dealer or other nominee, or in person at the Annual General Meeting if they
have been appointed proxy by their brokerage firm, bank, dealer or other nominee. Beneficial owners should follow the voting instruction
to be provided by their brokerage firm, bank, dealer or other nominee for directing the relevant brokerage firm, bank, dealer or other
nominee to vote the shares in the beneficial owners’ account.
Please
refer to this proxy statement for information related to the proposed resolutions.
Revocability
of Proxies
Any
proxy given pursuant to this solicitation may be revoked by the person giving it at any time before its use by delivering a written notice
of revocation or a duly executed proxy bearing a later date or, if you hold Ordinary Shares, by attending the meeting and voting in person.
A written notice of revocation must be delivered to the attention of CBL International Limited.
PROPOSALS
We
are asking Shareholders to pass the following resolutions (“Proposals”):
| 1. |
To
approve, by separate ordinary resolutions, the election and re-election of the following persons as Directors to serve for a three-year
term or until they cease to be Directors in accordance with the Articles of Association: |
| |
a. |
Mr.
Yuan He |
| |
b. |
Dr.
Teck Lim Chia |
| |
c. |
Mr.
Khai Fei Wong |
Background
In
February 2026, Mr. Ulf Lothar Naujeck resigned from the Board. The Board extends its sincere appreciation to Mr. Naujeck for his contributions
and service to the Company during his tenure. Accordingly, the Board has set the number of Directors at six (6).
The
nominees listed below have been nominated by the Nominating and Corporate Governance Committee and approved by our Board to stand for
election and re-election as Directors.
| Nominees
for Election/Re-election as Directors |
|
Age |
|
Position
/ Title |
| Mr.
Yuan He |
|
44 |
|
Senior
Vice President, Director |
| Dr.
Teck Lim Chia |
|
58 |
|
Chairman,
Chief Executive Officer & Acting Chief Financial Officer |
| Mr.
Khai Fei Wong |
|
44 |
|
Independent
Director |
Mr.
Yuan He, aged 44, is the senior vice president of our Group since the inception of our Group in 2015. He is primarily responsible for
the bunkering business division and the Group’s management and strategic development. Mr. He has over 20 years of experience in
the oil and gas-related industries and business management. He obtained a bachelor’s degree in engineering in July 2003 and a master’s
degree in science from the University of Wollongong in Australia in July 2005.
Dr.
Teck Lim Chia, aged 58, is the chairman of our board of directors, chief executive officer since the inception of our Group, and
is primarily responsible for overseeing the strategy and decision making of our Group. He has over 20 years of experience in the oil
and gas related industries and business management. Before founding our Group, Dr. Chia was employed by BrightOil Group, a company based
in Shenzhen, PRC which was principally engaged in the fuel oil business from April 2006 to June 2008, with his last position held as
general director. From June 2008 to September 2011, he served as an executive director of BrightOil Group’s listing company on
the Hong Kong Stock Exchange and undertook the role of developing the company’s international business network. From October 2011
to January 2017, Dr. Chia served as a director of an oil trading company. Dr. Chia received a bachelor’s degree in business administration
management from Oklahoma State University in December 1988 and a master’s degree in public administration from the University of
Management & Technology in June 2012. Dr. Chia further pursued his academic enhancement by completing a Doctorate in Business Administration
from the University of Management and Technology in 2025.
Mr.
Khai Fei Wong, aged 44, has been appointed as our independent director, a member of the audit committee and nominating and corporate
governance committee on March 22, 2023, and the chairman of the compensation committee on March 5, 2026. Mr. Wong has over 16
years of experience in auditing, taxation and corporate secretarial matters. He began his professional career in June 2008 with Indah
Secretarial (KL) Sdn Bhd (formerly known as Cheng & Co Secretarial Sdn Bhd) as a secretarial assistant. In July 2013, Mr. Wong set
up a corporate secretarial firm which principally provides corporate secretarial, dissolution and tax advisory services. Mr. Wong has
been a manager of a Malaysian Taxation Service Firm since 2020. Mr. Wong has been a licensed company secretary of the Companies Commission
of Malaysia since July 2014, an associate member of the Chartered Tax Institute of Malaysia since October 2020 and a licensed tax agent
of the Inland Revenue Board of Malaysia since December 2021. Mr. Wong graduated from The University of Sheffield in July 2003 with a
bachelor’s degree in arts.
| 2. |
To
ratify, by ordinary resolution, the appointment of MRI Moores Rowland LLP (“MRI”) as the Company’s independent
registered public accounting firm for the fiscal year ended December 31, 2025, and to authorize the Board of Directors to fix the
remuneration of MRI. |
The
audit committee of the Board (the “Audit Committee”), which is composed entirely of independent Directors, has selected
MRI, independent registered public accounting firm, to audit our financial statements for the fiscal year ended December 31, 2025. Ratification
of the appointment of MRI by Shareholders is not required by law. However, as a matter of good corporate practice, such appointment is
being submitted to the Shareholders for ratification at the Annual General Meeting. If the Shareholders do not ratify the appointment,
the Board and the Audit Committee will reconsider whether or not to retain MRI, but may, in their discretion, retain MRI. Even if the
appointment is ratified, the Audit Committee, in its discretion, may change the appointment at any time during the year if it determines
that such change would be in the best interests of the Company and its shareholders.
Representatives
from MRI will not be in attendance at the Annual General Meeting.
There
are no changes or disagreements with the independent registered public accounting firm on accounting and financial disclosure.
The
fee for MRI’s audit of the consolidated financial statements of the Group for the year ended December 31, 2025 was US$221,000.
| 3. |
To
transact such other business as may properly come before the meeting. |
Vote
Required and Board Recommendation
If
a quorum is present, the affirmative vote of a simple majority of the votes cast by the Shareholders present in person or represented
by proxy and entitled to vote at the Annual General Meeting will be required to approve the Proposals 1 and 2.
THE
BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” EACH OF THE PROPOSALS.
OTHER
MATTERS
We
know of no other matters to be submitted to the Annual General Meeting. If any other matters properly come before the Annual General
Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares they represent as our Board may recommend.
| |
By
Order of the Board |
| |
|
| |
/s/
Teck Lim Chia |
| |
Teck
Lim Chia |
| |
Chief
Executive Officer |
Date:
March 31, 2026