Nissin Foods Company Limited commences an Equity Buyback Plan for 107,348,648 shares, representing 10% of its issued share capital, under the authorization approved on June 4, 2021.

Nissin Foods Company Limited (SEHK:1475) commences share repurchases on August 31, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 4, 2021. As per the mandate, the company is authorized to repurchase up to 107,348,648 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share. The repurchases will be funded from the company’s funds which are legally available for such purpose accordance with the Articles of Association and the Companies Ordinance. 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 June 4, 2021, the company had 1,073,486,480 shares in issue.