Wing On Company International Limited commences an Equity Buyback Plan for 29,069,500 shares, representing 10% of its issued share capital, under the authorization approved on June 13, 2023.

Wing On Company International Limited (SEHK:289) commences share repurchases on June 27, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 13, 2023. As per the mandate, the company is authorized to repurchase up to 29,069,500 shares, 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 funded out of funds which are legally available for the purpose in accordance with the company’s constitutive documents and Bermuda law. 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 June 13, 2023, the company had 290,695,000 shares in issue.