Bilibili Inc. Announces Results of Annual General Meeting

Rhea-AI Summary

Bilibili Inc. (Nasdaq: BILI, HKEX: 9626), a prominent video community for young generations in China, announced the approval of all proposed resolutions at its annual general meeting (AGM) held on June 28, 2024, in Shanghai.

Key resolutions include the re-election of directors Rui Chen, JP Gan, and Eric He. The directors were given mandates to issue and repurchase Class Z ordinary shares, and a second amended and restated 2018 share incentive plan was adopted.

The plan allows the issuance of up to 10% of Bilibili's total issued shares, with a cap of 0.5% for service provider participants.

Positive

• All proposed resolutions were adopted at the AGM.
• Directors Rui Chen, JP Gan, and Eric He were re-elected.
• Directors were granted a mandate to issue and repurchase shares.
• The 2018 share incentive plan was amended and adopted, allowing up to 10% of total shares to be issued.

Negative

• None.

SHANGHAI, China, June 28, 2024 (GLOBE NEWSWIRE) -- Bilibili Inc. (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that each of the proposed resolutions (the “Proposed Resolutions”) set out in the notice of the annual general meeting dated April 9, 2024 (the “AGM Notice”) has been adopted at its annual general meeting of shareholders held in Shanghai, China today.

After the adoption of the Proposed Resolutions, all corporate authorizations and actions contemplated thereunder are approved, including, among other things, that (i) Mr. Rui Chen is re-elected as a director and each of Mr. JP Gan and Mr. Eric He is re-elected as an independent director; (ii) the directors are granted a general mandate to allot, issue, and deal with additional Class Z ordinary shares or equivalents and a general mandate to repurchase Bilibili’s own shares on the respective terms and in the respective periods as set out in the AGM Notice; and (iii) the second amended and restated 2018 share incentive plan is approved and adopted, with the maximum aggregate number of shares which may be issued pursuant to the awards granted under this plan not exceeding 10% of Bilibili’s total issued and outstanding shares as of today, of which not exceeding 0.5% of the total issued and outstanding shares may be issued pursuant to awards granted to service provider participants as defined in the plan.

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

For more information, please visit: http://ir.bilibili.com.

For investor and media inquiries, please contact:

In China:

Bilibili Inc.
Juliet Yang
Tel: +86-21-2509-9255 Ext. 8523
E-mail: ir@bilibili.com

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
E-mail: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: bilibili@tpg-ir.com

FAQ

What resolutions were approved at Bilibili's AGM on June 28, 2024?

All proposed resolutions, including the re-election of directors, share issuance, and repurchase mandates, and the adoption of the amended 2018 share incentive plan, were approved.

What did the 2018 share incentive plan amendment approved at Bilibili's AGM entail?

The amendment allows the issuance of up to 10% of Bilibili's total issued shares, with a cap of 0.5% for service provider participants.

Who were the directors re-elected at Bilibili's AGM in 2024?

Rui Chen was re-elected as a director, while JP Gan and Eric He were re-elected as independent directors.

What share-related mandates were granted to Bilibili's directors at the 2024 AGM?

Directors were granted mandates to allot, issue, and repurchase Class Z ordinary shares.