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KANGDA INTERNATIONAL ENVIRONMENTAL COMPANY LIMITED
康 達 國 際 環 保 有 限 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 6136)
VOLUNTARY ANNOUNCEMENT ON-MARKET SHARE REPURCHASE
UNDER THE REPURCHASE MANDATE
This is a voluntary announcement made by Kangda International Environmental Company Limited (the ''Company''). Reference is made to the announcement of the Company dated 13 October 2017 in relation to the intention to conduct on-market share repurchase(s) under the Repurchase Mandate (the ''Announcement''). Unless the context otherwise requires, the capitalised terms used herein shall have the same meanings as those defined in the Announcement.
The Board hereby announces that on 10 November 2017, pursuant to the Repurchase Mandate, the Company purchased 500,000 ordinary shares of the Company at the highest and lowest prices of HK$1.91 and HK$1.87 per share respectively (''Share Repurchase''). The aggregate purchase price paid (excluding commission and other expenses) for the Share Repurchase was approximately HK$944,400. The repurchased shares represent approximately 0.02418% of the existing total number of issued shares of the Company as at the date of this announcement. The Company will subsequently cancel the repurchased shares.
The Board believes that the current financial resources of the Company enable it to conduct the Share Repurchase while maintaining a solid financial position for the continuation of the Company's business in the current financial year. In addition, the Board considers that the Share Repurchase reflects the confidence of the Board and the management team in the long-term strategy and growth of the Company and considers that the Share Repurchase is in the best interest of the Company and its shareholders as a whole.
The Board confirms that the Share Repurchase was conducted in compliance with the memorandum and articles of association of the Company, the Listing Rules, the Takeovers Code, the Companies Law of the Cayman Islands and all applicable laws and regulations which the Company is subject to. The Directors have no present intention to repurchase Shares to an extent that will trigger the obligations under the Takeovers Code to make a mandatory offer. The Board ensures that the Company continues to satisfy the minimum public float requirement under the Listing Rules before and after the Share Repurchase.
By order of the Board
Kangda International Environmental Company Limited ZHAO Juanxian (alias, ZHAO Junxian)
Hong Kong, 10 November 2017
As at the date of this announcement, the Board comprises nine directors, namely Mr. ZHAO Juanxian (alias, ZHAO Junxian), Mr. ZHANG Weizhong, Ms. LIU Zhiwei, Mr. GU Weiping, Mr. WANG Litong and Mr. WANG Tianci as executive directors; and Mr. TSUI Yiu Wa Alec, Mr. PENG Yongzhen and Mr. CHANG Qing as independent non-executive directors.
Kangda International Environmental Co. Ltd. published this content on 10 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 November 2017 14:23:01 UTC.