Somerley Capital Holdings Limited (SEHK:8439) commences share repurchases on March 8, 2023, under the program mandated by the shareholders in the Annual General Meeting held on August 23, 2022. As per the mandate, the company is authorized to repurchase up to 14,235,509 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 Articles of Association and any other 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 at August 23, 2022, the company has 142,355,094 shares in issue.

On February 14, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to HKD 3 million worth of its shares. The program will be funded from company's available cash resources. The repurchased shares will be cancelled.