Asia Financial Holdings Limited commences an Equity Buyback Plan for 93,598,400 shares, representing 10% of its issued share capital, under the authorization approved on May 19, 2023.

Asia Financial Holdings Limited (SEHK:662) commences share repurchases on May 22, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 19, 2023. As per the mandate, the company is authorized to repurchase up to 93,598,400 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be funded entirely from the funds legally available for the purpose in accordance with the Memorandum of Association and Bye-laws of the Company and the applicable laws of Bermuda, Hong Kong 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 May 19, 2023, the company had 935,984,000 shares in issue.