Giordano International Limited (SEHK:709) commences share repurchases on October 27, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 20, 2022. As per the mandate, the company is authorized to repurchase up to 157,914,052 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share.

The program will be funded from the funds that are legally available for such purpose in accordance with the Bye-Laws, the Listing Rules and the applicable laws of Bermuda. 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 20, 2022, the company had 1,579,140,518 shares in issue.