Hengdeli Holdings Limited commences an Equity Buyback Plan for 446,480,696 shares, representing 10% of its issued share capital, under the authorization approved on May 13, 2022.

Hengdeli Holdings Limited (SEHK:3389) commences share repurchases on May 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 13, 2022. As per the mandate, the company will repurchase up to 446,480,696 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 made out of the profits of the company or the capital paid up on the relevant shares in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands. 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 13, 2022, the company had 4,464,806,959 shares in issue.