Million Hope Industries Holdings Limited commences an Equity Buyback Plan for 43,633,263 shares, representing 10% of its issued share capital, under the authorization approved on August 25, 2020.
March 08, 2021 at 06:38 am EST
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Million Hope Industries Holdings Limited (SEHK:1897) commences share repurchases on March 8, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 25, 2020. As per the mandate, the company is authorized to repurchase up to 43,633,263 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 25, 2020, the company had 436,332,630 shares in issue.
Million Hope Industries Holdings Ltd is an investment holding company principally engaged in the design, supply and installation of facade and curtain walls, aluminium windows and doors. The Company is engaged in the design, supply and installation of curtain walls, aluminium windows, doors and other products for new buildings. Other products including, balustrades, louvres, grilles, canopies, claddings, and aluminium features. The Company's services involves preliminary design and site analysis, shop drawings, structural calculations, sourcing and procurement of materials, material fabrication and processing, post completion maintenance services within the defects liability period and the warranty period. The Company is also engaged in the provision of renovation works, repair and maintenance services for curtain walls, aluminium windows and doors in Hong Kong for existing buildings.
Million Hope Industries Holdings Limited commences an Equity Buyback Plan for 43,633,263 shares, representing 10% of its issued share capital, under the authorization approved on August 25, 2020.
MILLION HOPE INDUSTRIES HOLDINGS LIMITED 
