O-Net Technologies Limited commences an Equity Buyback Plan for 74,597,649 shares, representing 10% of its issued share capital, under the authorization approved on June 1, 2018.

O-Net Technologies (Group) Limited (SEHK:877) commences share repurchases on October 12, 2018 under the program mandated by the shareholders in the Annual General Meeting held on June 1, 2018. As per the mandate, the company is authorized to repurchase up to 74,597,649 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets value per share and the earnings per share. The repurchases will be funded entirely from the cash flow or working capital facilities, and will, in any event be made out of funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of June 1, 2018, the company had 745,976,490 shares in issue.