China XLX Fertiliser Ltd. (SEHK:1866) commences share repurchases on May 11, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 24, 2022. As per the mandate, the company is authorized to repurchase not more than 122,812,100 shares, representing 10% of the issued share capital at a maximum price of not more than 105% or more of the average closing price. The shares repurchased shall be deemed cancelled immediately.

The program will be funded from internal resources and/or external borrowings or the funds that are legally available for such purchase or acquisition in accordance with the Constitution and the applicable laws in Singapore and Hong Kong. The purpose of the program is to enhance EPS and/or NTA per share for the company. The program will expire at the conclusion of the next Annual General Meeting of the company or the expiration of the period within which the next Annual General Meeting of the company is required by the Constitution or any applicable laws of Singapore to be held or the date on which the purchases or acquisitions of shares pursuant to the buyback mandate have been carried out to the full extent mandated or the passing of an ordinary resolution by the shareholders in General Meeting revoking, varying or renewing the buyback mandate, whichever is earlier.

As of June 24, 2022, the company had 1,228,121,000 shares in issue.