PNGX MARKET ANNOUNCEMENT - PNG Air Special Shareholders Meeting Results

2025-09-22 CGA - Results of PNG Air Special Meeting for Shareholders dated 22 September 20.

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summary of the key outcomes from the PNG Air Special Meeting of Shareholders held on Monday, 22 September 2025, as detailed in the uploaded document:

1. Capital Raise

   • Approved the issuance of up to 1,000,000,000 new ordinary shares at 2 toea per share.

   • The goal is to raise up to PGK 20 million in additional capital.

   • Preference will be given to existing minority shareholders.

   • New investors may subscribe to any shares not taken up by existing shareholders.

     
     

2. Appointment of Agent and Broker

   • Weathermen Capital Advisors Ltd was appointed as the sole agent and broker for the capital raise.

   • They will handle brokerage, allotment, and allocation of the new shares.

Resolution	For Votes	Against	Abstain	Result
Capital Raise	8,225,582,668 (100%)	0	0	Carried
Appointment of Weathermen Capital Advisors	8,225,582,668 (100%)	0	0	Carried

All resolutions were passed unanimously with 100% support from votes cast.