Smoore International Holdings Limited commences an Equity Buyback Plan for 599,844,422 shares, representing 10% of its issued share capital, under the authorization approved on May 27, 2022.

Smoore International Holdings Limited (SEHK:6969) commences share repurchases on August 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2022. As per the mandate, the company is authorized to repurchase up to 599,844,422 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 funded out of funds legally available for share repurchase in accordance with its Memorandum and Articles of Association, the laws of Cayman Islands and/or any other applicable laws, as the case may be. 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 27, 2022, the company had 5,998,444,220 shares in issue.