SIM Technology Group Limited (SEHK:2000) commences share repurchases on July 5, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 3, 2021. As per the mandate, the company is authorized to repurchase up to 236,254,930 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share. The repurchase program will be financed out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws of Bermuda. 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 3, 2021, the company had 2,362,549,300 shares in issue.