The shareholders of Cosmopolitan International Holdings Ltd. (SEHK:120) authorized a share repurchase program at its Annual General Meeting on August 28, 2012. Under the plan, the company will repurchase up to 1,178,513,095 shares, representing 10% of its issued share capital. Any repurchase of shares will be funded entirely from the company's available cash flow or working capital facilities, and will, in any event, be made out of funds legally available for the repurchase in accordance with the memorandum of association of the company, the Articles of Association and the applicable laws of Hong Kong.

The purpose of this repurchase program is to enhance the net asset value and/or the earnings per share of the company. This program will be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by its bye-laws to be held or the passing of an ordinary resolution by its shareholders in general meeting revoking or varying the authority given to its directors by this resolution. As of August 28, 2012, the company has 11,785,130,951 shares under issue.