Link Real Estate Investment Trust (SEHK:823) commences share repurchases on July 21, 2022, under the program mandated by the shareholders in the Annual General Meeting held on July 20, 2022. As per the mandate, the company is authorized to repurchase up to 211,019,385 units, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share.
The repurchases will be made out of the funds legally available for such purpose in accordance with trust deed and applicable laws of, and regulations in Hong Kong. The shares repurchased will be cancelled. 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 June 10, 2022, the company had 2,110,193,850 shares in issue.