Ascletis Pharma Inc. commences an Equity Buyback Plan for 108,713,400 shares, representing 10% of its issued share capital, under the authorization approved on June 29, 2023.

Ascletis Pharma Inc. (SEHK:1672) commences share repurchases on June 30, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2023. As per the mandate, the company is authorized to repurchase up to 108,713,400 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share.

The repurchase program will be financed out of the cash flow or working capital facilities available to the company and funds legally available for the purpose in accordance with the Articles and the applicable laws of the Cayman Islands and the Listing Rules. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 29, 2023, the company had 1,087,134,000 shares in issue.