SinoMedia Holding Limited (SEHK:623) commences share repurchases on July 9, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 8, 2021. As per the mandate, the company is authorized to repurchase up to 46,368,137 shares, representing 10% of its issued share capital. The repurchases under the program will lead to an enhancement of the net value of the company and its assets and/or earnings per share. The repurchases will be made from the distributable profits of the company and/or the proceeds of a new issue of shares which are legally available for the purpose in accordance with the Articles 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 8, 2021, the company had 463,681,370 shares in issue.