Skyworth Group Limited commences an Equity Buyback for 258,520,142 shares, representing 10% of its issued share capital, under the authorization approved on May 24, 2023.

Skyworth Group Limited (SEHK:751) commences share repurchases on August 31, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 24, 2023. As per the mandate, the company is authorized to repurchase up to 258,520,142 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share.

The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum and Byelaws of the company, 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 at May 24, 2023, the company has 2,585,201,420 shares in issue.