Sunlight Real Estate Investment Trust (SEHK:435) commences share repurchases on March 2, 2020, under the program mandated by the shareholders in the Annual General Meeting held on October 30, 2019. As per the mandate, the company is authorized to repurchase up to 165,638,836 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net asset value per unit and distribution per unit. The repurchases will be financed from available cash flow or working capital and made out of the funds legally available for such purpose in accordance with the trust deed and the applicable laws of Hong Kong. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of October 30, 2019, the company had 1,656,388,363 shares in issue.