Karrie International Holdings Limited (SEHK:1050) commences share repurchases on July 2, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 28, 2020. As per the mandate, the company is authorized to repurchase up to 199,763,920 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value and/or the earnings per share of the company. The program will be funded from the funds legally available for such purpose in accordance with its Memorandum of Association, the Bye-laws and the 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 August 28, 2020, the company had 1,993,839,200 shares in issue.