Million Hope Industries Holdings Limited commences an Equity Buyback Plan for 41,865,163 shares, representing 10% of its issued share capital, under the authorization approved on August 23, 2022.

Million Hope Industries Holdings Limited (SEHK:1897) commences share repurchases on November 21, 2022, under the program mandated by the shareholders in the Annual General Meeting held on August 23, 2022. As per the mandate, the company is authorized to repurchase up to 41,865,163 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be financed out of funds legally available for the purpose in accordance with the Articles and the 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 August 23, 2022, the company had 418,651,630 shares in issue.