The shareholders of Neway Group Holdings Limited (SEHK:55) authorized a share repurchase program at its Annual General Meeting on September 6, 2013. Under the program, the company will repurchase up to 101,935,456 shares, representing 10% of its issued capital. The repurchases will be made on the Stock Exchange of Hong Kong Limited or on any other stock exchange recognized, for this purpose by the Securities and Futures Commission and the Stock Exchange, subject to and in accordance with all applicable laws and requirements.

The share repurchase program will be funded from the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the laws of Bermuda. The amount of premium payable on repurchase will be paid out of either the funds otherwise available for distribution by way of dividend or distribution or out of the share premium account of the company. The share repurchase program will be valid until the earliest of the conclusion of the next Annual General Meeting or the expiration of the period within which the next Annual General Meeting is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders in General Meeting revoking or varying the authority given to the directors by the resolution.

As of July 25, 2013, the company has 1,019,354,560 shares in issue.