Fairwood Holdings Limited (SEHK:52) commences share repurchases on February 9, 2018 under the program mandated by the shareholders in the Annual General Meeting held on September 7, 2017. As per the mandate, the company is authorized to repurchase up to 12,784,628 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of Bermuda and will be effected out of the capital paid up on the purchased shares or out of the funds of the company otherwise available for dividend or distribution and sums standing to either the share premium accounts or contributed surplus account of the company. The share repurchase program shall 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 the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the Directors of the company by this resolution. As of September 7, 2017, the company had 127,846,280 shares in issue.