MAN WAH HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
敏 華 控 股 有 限 公 司
(Incorporated in Bermuda with limited liability)
(Stock Code: 01999)This announcement is made by Man Wah Holdings Limited (the "Company") on a voluntary basis.
The board of directors (the "Board") of the Company announces that the Company has on 22 February 2016 repurchased on-market 596,800 shares of the Company pursuant to the general mandate to repurchase shares granted by the shareholders of the Company to the Board at the annual general meeting of the Company held on 7 July 2015. The highest purchase price per share was HK$8.80 and the lowest purchase price per share was HK$8.72, and an aggregate of HK$ 5,244,240.00 (before brokerage and expenses) was utilised by the Company for such repurchase. The Company will subsequently cancel the repurchased shares.
Currently the cash flow from operational activities of the Company is strong and healthy. The Board of the Company believes the share repurchase and subsequent cancellation of the repurchased shares can improve the return to shareholders. The share repurchase also reflects the confidence of the Board to the prospects of the Company.
The Company may make further repurchase depending on market conditions. Shareholders and investors should note that whether or not to repurchase any further shares will be subject to market conditions and will be further subject to the Board's absolute discretion. There is no assurance of the timing, quantity or price of any share repurchases or whether the Company will make any further repurchases at all. Shareholders and investors are reminded to exercise caution when dealing in the securities of the Company.
By Order of the Board
Man Wah Holdings Limited Wong Man LiChairman
Hong Kong, 22 February 2016
As at the date of this announcement, the executive Directors are Mr. Wong Man Li, Ms. Hui Wai Hing, Mr. Wang Guisheng, Mr. Alan Marnie, Mr. Dai Quanfa and Ms. Wong Ying Ying; the non-executive Director is Mr. Xie Fang, and the independent non-executive Directors are Mr. Chau Shing Yim, David, Mr. Lee Teck Leng, Robson, Mr. Ong Chor Wei and Mr. Kan Chung Nin, Tony.
Man Wah Holdings Limited issued this content on 22 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2016 15:14:22 UTC
Original Document: http://manwah.todayir.com/attachment/2016022222470200002436418_en.pdf
