Vancouver – September 23, 2026 -- Silvercorp Metals Inc. (TSX/NYSE American: SVM) has postponed its annual general and special meeting from September 25 to October 2, 2026, after its Board approved a broadened package of Articles amendments beyond the Hong Kong Stock Exchange listing alignment originally proposed in the August 12 management circular. The proxy voting deadline has been pushed to September 30, 2026 at 10:00 a.m. Pacific time to give shareholders time to review the expanded resolution.
Board adds governance amendments beyond Hong Kong listing rules
The original Item 3 resolution sought shareholder approval to align Silvercorp's Articles with Hong Kong Stock Exchange listing rules, to take effect only if the Board proceeds with a Main Board listing in Hong Kong. Following feedback from shareholders and proxy advisors, the Board has folded in additional governance changes that would take effect promptly after the Meeting, independent of the Hong Kong listing decision.
Shareholder meeting quorum requirement quintuples to 25%
Under the proposed changes, the quorum threshold for shareholder meetings under Article 11.3 rises from 5% to 25% of issued shares entitled to vote. Director meeting quorum under Article 18.10 would be fixed at a minimum of one-half of sitting directors, rounded up, with the Board permitted to set a higher but not lower threshold.
Alternate director provisions eliminated from Articles
Article 15, which currently allows any director to appoint a qualified alternate to act in his or her place at board or committee meetings, would be deleted in full, along with all related references in the Articles.
Advance notice nomination window loses upper limit
Article 16 currently requires shareholder director nominations to be submitted between 30 and 65 days before a scheduled meeting. The amendment removes the 65-day cap and ties the nomination deadline to a new meeting date if the meeting is postponed or adjourned, while keeping the 30-day minimum notice period intact. A separate change limits the additional nominee information the Company can request to what is required under applicable securities laws and stock exchange rules, narrowing the current broader disclosure standard tied to independent-director eligibility.
Laurel Hill retained for $30,000 to manage proxy solicitation
Silvercorp has engaged Laurel Hill Advisory Group as proxy solicitation agent and shareholder engagement manager for a fee of $30,000 plus expenses, with the Company covering all solicitation costs and indemnifying Laurel Hill against certain liabilities. Previously submitted proxies remain valid unless shareholders file a later-dated proxy or voting instruction before the extended deadline. The Board recommends shareholders vote in favor of the Amended Articles Resolution, with a redline comparing the proposed changes to the current Articles available on the Company's website.