SmarTone Telecommunications Holdings Limited commences an Equity Buyback Plan for 110,490,110 shares, representing 10% of its issued share capital, under the authorization approved on October 31, 2023.

SmarTone Telecommunications Holdings Limited (SEHK:315) commences share repurchases on November 29, 2023, under the program mandated by the shareholders in the Annual General Meeting held on October 31, 2023. As per the mandate, the company is authorized to repurchase up to 110,490,110 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be made from the funds which are legally available for such purpose in accordance with the laws of Bermuda and the memorandum of association and bye-laws of the Company and the Listing Rules. 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 October 31, 2023, the company had 1,104,901,101 shares in issue.