Kingboard Holdings Limited commences an Equity Buyback Plan for 110,465,773 shares, representing 10% of its issued share capital, under the authorization approved on May 25, 2020.

Kingboard Holdings Limited (SEHK:148) commences share repurchases on June 12, 2020, under the program mandated by the shareholders in the Annual General Meeting held on May 25, 2020. As per the mandate, the company is authorized to repurchase up to 110,465,773 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum and the Articles of Association, any other applicable laws of the Cayman Islands. 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 varied or revoked in a General Meeting. As of May 25, 2020, the company had 1,104,657,736 shares in issue.