CK Asset Holdings Limited commences an Equity Buyback for 364,358,383 shares, representing 10% of its issued share capital, under the authorization approved on May 19, 2022.

CK Asset Holdings Limited (SEHK:1113) commences share repurchases on May 31, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 19, 2022. As per the mandate, the company is authorized to repurchase up to 364,358,383 shares representing 10% of its issued share capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act.

The purpose of the program is to enhance the net asset value and/or earnings per share of the company. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of May 19, 2022, the company had 3,643,583,833 shares in issue.