Weimob Inc. (SEHK:2013) commences share repurchases on August 26, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2021. As per the mandate, the company is authorized to repurchase up to 243,159,743 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 applicable laws and regulations of the Cayman Islands, the Articles of Association and the Listing Rules. 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 June 29, 2021, the company had 2,431,597,427 shares in issue.
On August 19, 2021, the company announces a share repurchase program. Under the program, the company will repurchase up to HKD 1,000 million. The program will expire on November 18, 2021.