Yankuang Energy Group Company Limited commences an Equity Buyback Plan for 45,498,900 shares, representing 0.92% of its issued share capital, under the authorization approved on June 30, 2023.

Yankuang Energy Group Company Limited (SEHK:1171) commences share repurchases on November 16, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2023. Under the program, the company will repurchase up to 45,498,900 H shares, representing 10% of its H share capital and 0.91% of its total issued capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act.

The purpose of the program is to enhance the net asset value and/or earnings per share of the company. 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 30, 2023, the company had 4,961,360,480 shares in issue including 2,257,324,473 A shares and 454,989,000 H shares.