Springland International Holdings Limited (SEHK:1700) commences share repurchases on May 26, 2017, under the program mandated by the shareholders in the Annual General Meeting held on May 26, 2017. As per the mandate, the company is authorized to repurchase up to 231,502,300 shares, representing 10% of its issued share capital. The company will repurchase its shares from the internal resources legally available for such purposes in accordance with the memorandum and the articles and the applicable laws of the Cayman Islands. The repurchases will lead to an enhancement of the net assets and/or its earnings per share and/or dividend per share. The ability of the company to repurchase shares would also be beneficial to the shareholders who retain their investment in the company since their proportionate interest in the assets would increase as a result of such repurchases. The repurchases will be in accordance with laws and requirements and regulations of the Stock Exchange of Hong Kong Limited or on any other Stock Exchange on which the shares of the company may be listed and recognized by the Securities and Futures Commission and the Stock Exchange of Hong Kong Limited for this purpose. The repurchases will be subject to market conditions and funding arrangements at that time. The Directors consider the share repurchase program to be in the best interests of the company and its shareholders. The exercise of the repurchase program in full will not have a material adverse impact on the working capital or the gearing level of the company. The number of the shares to be repurchased on any occasion and the price and other terms upon which the same are repurchased will be decided by the Directors at the relevant time having regard to the pertaining circumstances. The repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting of the company, or the expiration of the period within which the next Annual General Meeting of the company is required by any applicable laws or the company’s article of associate to be held, or passing of an ordinary resolution by shareholders in General Meeting revoking or varying the authority given to the Directors under this resolution. As of May 26, 2017, the company has 2,315,023,000 shares in issue.