Sunlight Real Estate Investment Trust commences an Equity Buyback Plan for 166,766,782 shares, representing 10% of its issued share capital, under the authorization approved on November 6, 2020.
November 16, 2020 at 04:47 am EST
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Sunlight Real Estate Investment Trust (SEHK:435) commences share repurchases on November 16, 2020, under the program mandated by the shareholders in the Annual General Meeting held on November 6, 2020. As per the mandate, the company is authorized to repurchase up to 166,766,782 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or distribution per unit for the company. The repurchases will be made out of available cash flow or working capital and 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 varied or revoked in a General Meeting. As of November 6, 2020, the company had 1,667,667,824 shares in issue.
Sunlight Real Estate Investment Trust (REIT) is a Hong Kong-based REIT. The objective of the REIT is to provide unitholders with regular and stable cash distributions with the potential for sustainable long-term growth and enhancement in value of the property portfolio. Its investment portfolio includes 10 offices and six retail properties in Hong Kong, such as Sunlight Tower, Bonham Trade Center, Sheung Shui Center Shopping Arcade and Beverley Commercial Center Property. The office properties are primarily located in core business areas, including Central, Wan Chai and Sheung Wan, as well as in decentralized business areas, such as Mong Kok and North Point. The retail properties are primarily located in regional transportation hubs and new towns including Sheung Shui, Tseung Kwan O and Yuen Long, as well as in urban areas with high population density. The REIT is managed by Henderson Sunlight Asset Management Limited.
Sunlight Real Estate Investment Trust commences an Equity Buyback Plan for 166,766,782 shares, representing 10% of its issued share capital, under the authorization approved on November 6, 2020.
SUNLIGHT REAL ESTATE INVESTMENT TRUST 
