EVA Precision Industrial Holdings Limited commences an Equity Buyback Plan for 171,714,980 shares, representing 10% of its issued share capital, under the authorization approved on May 18, 2021.

EVA Precision Industrial Holdings Limited (SEHK:838) commences share repurchases on May 4, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2021. As per the mandate, the company is authorized to repurchase up to 171,714,980 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share.

The repurchases will be funded from funds legally available for such purpose in accordance with company's articles and the applicable laws of the Cayman Islands as well as profits available for distribution. 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 May 18, 2021, the company had 1,717,149,800 shares in issue.