Power Assets Holdings Limited (SEHK:6) commences an Equity Buyback Plan for 213,426,165 shares, representing 10% of its issued share capital, under the authorization approved on May 18, 2022.

Power Assets Holdings Limited (SEHK:6) commences share repurchases on September 28, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2022. As per the mandate, the company is authorized to repurchase up to 213,426,165 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 the company's available cash flow or working capital facilities which will be legally available for such purpose in accordance with its memorandum of association and Articles of Association and the companies ordinance. 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, 2022, the company had 2,134,261,654 shares in issue.