Emperor Watch & Jewellery Limited (SEHK:887) commences share repurchases on May 24, 2018 under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2018. As per the mandate, the company is authorized to repurchase up to 687,308,812 shares, representing 10% of its share capital. The purpose of the program is to enhance the net asset value and/or the earnings per share. The repurchases will be made out of funds which are legally available for the purpose in accordance with the Articles of Association and the applicable laws of Hong Kong. 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, unless varied or revoked in a General Meeting. As of May 23, 2018, the company had 6,873,088,129 shares in issue.