H World Group Limited Announces Voting Results of 2024 Annual General Meeting

Rhea-AI Summary

H World Group (NASDAQ: HTHT, HKEX: 1179) announced the successful outcomes of its 2024 annual general meeting (AGM) held on June 27, 2024.

Key resolutions passed include the ratification of Deloitte Touche Tohmatsu as the Company's auditor for 2024, authorization for Company directors to set the auditor's remuneration, and the amendment of the 2023 share incentive plan.

The AGM also approved the authorization of directors or designated officers to take necessary actions to implement these resolutions.

Positive

• Ratification of Deloitte Touche Tohmatsu as the auditor ensures continuity in financial oversight.
• Authorization for directors to determine auditor remuneration provides flexibility in financial management.
• Amendment and restatement of the 2023 share incentive plan could enhance employee motivation and retention.

Negative

• No direct negative financial impact mentioned.

SHANGHAI, June 27, 2024 (GLOBE NEWSWIRE) -- H World Group Limited (NASDAQ: HTHT and HKEX: 1179) (“H World” or the “Company”), a key player in the global hotel industry, today announced that the 2024 annual general meeting of the Company (the “AGM”) was held on June 27, 2024. During the AGM, the following proposed resolutions were duly passed:

1. the ordinary resolution as set out in the notice of the AGM dated May 8, 2024 (the “Notice of AGM”) regarding the ratification of appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as auditor of the Company for 2024 and the authorization for the directors of the Company to determine the remuneration of the auditor;
2. the ordinary resolution as set out in the Notice of AGM regarding the amendment and restatement of the Company’s 2023 share incentive plan; and
3. the ordinary resolution as set out in the Notice of AGM regarding the authorization of each director or officer of the Company or Conyers Trust Company (Cayman) Limited to take any and every action that might be necessary, appropriate or desirable to effect the foregoing resolutions as such director, officer or Conyers Trust Company (Cayman) Limited, in his, her or its absolute discretion, thinks fit and to attend to any necessary registration and/or filing for and on behalf of the Company.
   

About H World Group Limited

Originated in China, H World Group Limited is a key player in the global hotel industry. As of March 31, 2024, H World operated 9,817 hotels with 955,657 rooms in operation in 18 countries. H World’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-China region.

H World’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, H World directly operates hotels typically located on leased or owned properties. Under the manachise model, H World manages manachised hotels through the on-site hotel managers that H World appoints, and H World collects fees from franchisees. Under the franchise model, H World provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. H World applies a consistent standard and platform across all of its hotels. As of March 31, 2024, H World operates 11 percent of its hotel rooms under the lease and ownership model, and 89 percent under the manachise and franchise model.

For more information, please visit H World’s website: https://ir.hworld.com.

Contact Information
Investor Relations
Tel: +86 (21) 6195 9561
Email: ir@hworld.com
https://ir.hworld.com

FAQ

What resolutions were passed at H World Group's 2024 AGM?

The resolutions included the ratification of Deloitte Touche Tohmatsu as the auditor, authorization for directors to set the auditor's remuneration, and amendments to the 2023 share incentive plan.

Who was appointed as the auditor for H World Group in 2024?

Deloitte Touche Tohmatsu was ratified as the auditor for H World Group in 2024.

What was the date of H World Group's 2024 AGM?

H World Group's 2024 AGM was held on June 27, 2024.

What changes were made to H World Group's 2023 share incentive plan?

The 2023 share incentive plan was amended and restated as per the resolutions passed at the 2024 AGM.

What is HTHT's stock symbol?

HTHT's stock symbol is NASDAQ: HTHT.