SMI Holdings Group Limited (SEHK:198) commences share repurchases on June 5, 2018 under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2018. As per the mandate, the company is authorized to repurchase up to 272,004,191 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets and/or its earnings per share and/or dividend per share. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act. 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, unless varied or revoked in a General Meeting. As of April 23, 2018, the company had 2,720,041,916 shares in issue.