Summary by Moomoo AI
STANDARD CHARTERED GROUP LIMITED (STANCHART) OBTAINED ON 26 FEBRUARY 2024 A SPECIAL AUTHORISATION EXEMPTION UNDER SECTION 13.36 (1) OF THE HONG KONG LISTING RULES PERMITTING IT TO SEEK A SPECIAL AUTHORISATION TO ISSUE ADDITIONAL TIER 1 SECURITIES AT FUTURE ANNUAL GENERAL MEETINGS. This special authorization will allow the company greater flexibility when issuing new shares and will be able to quickly meet capital requirements in favorable market conditions. Standard Chartered Group plans to seek this special authorization at its Annual General Meeting on May 10, 2024 and will send a notice to shareholders no later than April 8. The special mandate is designed to maintain the efficiency of the company's capital structure and protect the interests of ordinary shareholders. The company's current common equity tier one capital ratio is 14.1%, significantly exceeding the expected trigger event ratio, demonstrating the health of its capital levels.