MECOM Power and Construction Limited (SEHK:1183) commences share repurchases on September 21, 2020, under the program mandated by the shareholders in the Annual General Meeting held on May 29, 2020. As per the mandate, the company is authorized to repurchase up to 119,619,200 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 memorandum of association and Articles of Association and the 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 29, 2020, the company had 1,196,192,000 shares in issue. On September 9, 2020, the company initiated a share repurchase program up to 50,000,000 shares. The share repurchases will be cancelled. The repurchases will commence from September 10, 2020 and will expire of December 10, 2020. On December 4, 2020, the company announced that it has extended its plan duration till January 22, 2021.