Asia Allied Infrastructure Holdings Limited commences an Equity Buyback Plan for 179,623,185 shares, representing 10% of its issued share capital, under the authorization approved on August 23, 2023.

Asia Allied Infrastructure Holdings Limited (SEHK:711) commences share repurchases on August 25, 2023, under the program mandated by the shareholders in the Annual General Meeting held on August 23, 2023. As per the mandate, the company is authorized to repurchase up to 179,623,185 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be funded from available cash flow and/or working capital facilities of the company and out of the funds legally available for such purpose in accordance with its Byelaws and the applicable laws of Bermuda. 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 August 23, 2023, the company had 1,796,231,847 shares in issue.