Smart-Core Holdings Limited (SEHK:2166) commences share repurchases on July 17, 2020, under the program mandated by the shareholders in the Annual General Meeting held on May 26, 2020. As per the mandate, the company is authorized to repurchase up to 49,295,503 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The shares repurchased will be cancelled. The repurchases will be made out of the funds legally available for such purpose in accordance with the Listing Rules, the Articles of Association and the applicable laws of the Cayman Islands. 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 May 26, 2020, the company had 492,955,030 shares in issue.