China Star Entertainment Limited commences an Equity Buyback for 246,085,048 shares, representing 10% of its issued share capital, under the authorization approved on June 29, 2023.

China Star Entertainment Limited (SEHK:326) commences share repurchases on January 12, 2024, 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 246,085,048 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share.

The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum and Byelaws, and the Companies Act. 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 at June 29, 2023, the company has 2,460,850,479 shares in issue.