Lum Chang Creations seeks shareholders’ nod on 1-for-1 bonus issue and lifting of MD’s share sale moratorium
To meet minimum shareholding rules, group proposing to let MD Lim Thiam Hooi place out up to 7.7 million shares
[SINGAPORE] Lum Chang Creations (LCC) has scheduled an extraordinary general meeting (EGM) on May 25 to seek shareholder approval for its transfer from the Catalist board to the Singapore Exchange’s (SGX) mainboard.
The EGM serves as the final hurdle for the urban revitalisation specialist, which already secured in-principle approval from SGX in February.
As part of that approval, SGX granted the company a waiver, which typically requires a minimum two-year listing period, given LCC was just spun off from its mainboard-listed parent, Lum Chang Holdings (LCH), in July 2025. LCH currently retains a 71.1 per cent stake in the group.
Alongside the transfer, LCC has tabled several other key corporate proposals to support its medium to long-term business plans.
Corporate proposals
To facilitate the move, LCC has to address minimum shareholding spread requirements. The group is proposing to amend its existing moratorium undertakings to permit managing director Lim Thiam Hooi to sell up to 7.7 million shares via a placement. This will increase the proportion of shares held by public shareholders.
Additional resolutions to be voted on at the EGM include a proposed bonus issue of up to 330 million new shares to reward shareholders, and plans to replace its existing share issue mandate with a new one to comply with a mainboard rule post-transfer.
The proposed transfer follows a period of rapid growth for the company. LCC’s net profit surged 104 per cent to S$11 million for the first half of FY2026, driven by accelerated progress on its ongoing projects.
The group also reported an order book of about S$132 million as at Dec 31, 2025, providing clear revenue visibility. Major contract wins bolstering the order book include the S$31.9 million redevelopment of the Registries of Civil and Muslim Marriages Building and the S$31.5 million Orchard Road Presbyterian Church project.
Lim said that the mainboard listing will broaden the company’s access to investors and raise its profile among institutional players.
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