Yongsheng Advanced Materials Company Limited commences an Equity Buyback for 73,254,309 shares, representing 10% of its issued share capital, under the authorization granted on May 27, 2022.

Yongsheng Advanced Materials Company Limited (SEHK:3608) commences share repurchases on May 27, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2022. As per the mandate, the company is authorized to repurchase up to 73,254,309 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 Memorandum and the Articles of Association, the Listing Rules, and any other applicable laws of the 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 at May 27, 2022, the company has 732,543,090 shares in issue.