Man Wah Holdings Limited commences an Equity Buyback for 390,655,200 shares, representing 10% of its issued share capital, under the authorization approved on June 30, 2023.

Man Wah Holdings Limited (SEHK:1999) commences share repurchases on December 4, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2023. As per the mandate, the company is authorized to repurchase up to 390,655,200 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 of Association and Bye-laws of the company, the Listing Rules, and any other 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 varied or revoked in a General Meeting. As at June 30, 2023, the company has 3,906,552,000 shares in issue.