Shougang Concord Century Holdings Limited commences an Equity Buyback for 192,290,056 shares, representing 10% of its issued share capital, under the authorization approved on June 11, 2019.

Shougang Concord Century Holdings Limited (SEHK:103) commences share repurchases on November 21, 2019, under the program mandated by the shareholders in the Annual General Meeting held on June 11, 2019. As per the mandate, the company is authorized to repurchase up to 192,290,056 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings/loss per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with Articles of Association and the applicable laws of Hong Kong. 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 at June 11, 2019, the company had 1,922,900,556 shares in issue.