Want Want China Holdings Limited commences an Equity Buyback Plan for 1,242,263,713 shares, representing 10% of its issued share capital, under the authorization approved on August 20, 2019.
October 14, 2019 at 05:55 am EDT
Share
Want Want China Holdings Limited (SEHK:151) commences share repurchases on October 14, 2019, under the program mandated by the shareholders in the Annual General Meeting held on August 20, 2019. As per the mandate, the company is authorized to repurchase up to 1,242,263,713 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of 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 of August 20, 2019, the company had 12,422,637,135 shares in issue.
Want Want China Holdings Ltd is a China-based investment holding company principally engaged in food-related businesses. The Company operates its businesses through four segments. The Rice Crackers segment is engaged in the manufacture and sales of sugar coated crackers, savory crackers, fried crackers and gift packs. The Dairy Products and Beverage segment is engaged in the manufacture and sales of flavored milk, yogurt drinks, ready-to-drink coffee, juice drinks, sports drinks, herbal tea and milk powder. The Snack Food segment is engaged in the manufacture and sales of candies, popsicles and jellies, ball cakes, beans and nuts, among others. The Other Products segment is engaged in the manufacture and sales of wine and other products.
Want Want China Holdings Limited commences an Equity Buyback Plan for 1,242,263,713 shares, representing 10% of its issued share capital, under the authorization approved on August 20, 2019.
WANT WANT CHINA HOLDINGS LIMITED 
