Macau Legend Development Limited (SEHK:1680) commences share repurchases on May 30, 2019, under the program mandated by the shareholders in the Annual General Meeting held on May 29, 2019. As per the mandate, the company is authorized to repurchase up to 626,757,612 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 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 29, 2019, the company had 6,267,576,120 shares in issue.