King Fook Holdings Limited commences an Equity Buyback for 91,165,846 shares, representing 10% of its issued share capital, under the authorization approved on September 9, 2021.

King Fook Holdings Limited (SEHK:280) commences share repurchases on July 5, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 9, 2021. As per the mandate, the company is authorized to repurchase up to 91,165,846 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose. 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 September 9, 2021, the company had 911,658,465 shares in issue.