National Electronics Holdings Limited commences an Equity Buyback Plan for 96,791,096 shares, representing 10% of its issued share capital, under the authorization approved on August 22, 2022.

National Electronics Holdings Limited (SEHK:213) commences share repurchases on August 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on August 22, 2022. As per the mandate, the company is authorized to repurchase up to 96,791,096 shares, representing 10% of its issued share capital. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum of Association and the Bye- Laws of the company, the laws of Bermuda, and any other applicable laws.

The repurchases will lead to an enhancement of the earnings per share for the company. 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, renewed or revoked in a General Meeting. As at August 22, 2022, the company had 942,074,962 shares in issue.