Asia Tele-Net and Technology Corporation Limited commences an Equity Buyback for 42,646,340 shares, representing 10% of its issued share capital, under the authorization granted on June 23, 2022.

Asia Tele-Net and Technology Corporation Limited (SEHK:679) commences share repurchases on September 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2022. As per the mandate, the company is authorized to repurchase up to 42,646,340? 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 Bye-laws and any other 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 at June 23, 2022, the company has 426,463,400 shares in issue.