The shareholders of CMMB Vision Holdings Limited (SEHK:471) authorized a share repurchase program at its Annual General Meeting on June 29, 2012. Under the program, the company will repurchase up to 449,822,200 shares, representing 10% of its issued share capital. Repurchases made pursuant to the Repurchase Mandate would be funded out of funds legally available for the purpose in accordance with the Company's memorandum of association, the Articles of Association, the Companies Law, other applicable laws of the Cayman Islands and the Listing Rules. A listed company may not repurchase its own securities on the Stock Exchange for a consideration other than cash or for settlement otherwise than in accordance with the trading rules of the Stock Exchange. Under the Companies Law, repurchases by the Company may only be made out of the profits of the Company or out of the proceeds of a fresh issue of Shares made for the purpose, or, if so authorized by the Articles of Association and subject to the provisions of the Companies Law, out of capital. Any premium payable on a redemption or purchase over the par value of the Shares to be purchased must be provided for out of profits of the Company or out of the Company's share premium account, or, if so authorized by the Articles of Association and subject to the provisions of the Companies Law, out of capital. The purpose of this repurchase program is to enhance the net asset value and/or the earnings per share of the company. The Directors believe that it is in the best interests of the Company and its Shareholders. This 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 of the company is required by its bye-laws to be held or the passing of an ordinary resolution by its shareholders in general meeting revoking or varying the authority given to its directors by this resolution. As of June 29, 2012, the company has 4,498,222,000 shares in issue. Till December 31, 2012, no repurchases were made.

CMMB Vision Holdings Limited's share repurchase program expired on May 31, 2013.