Sun.King Technology Group Limited commences an Equity Buyback Plan for 163,554,150 shares, representing 10% of its issued share capital, under the authorization approved on June 23, 2021.

Sun.King Technology Group Limited (SEHK:580) commences share repurchases on April 22, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2021. As per the mandate, the company is authorized to repurchase up to 163,554,150 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be financed out of funds legally available for the purpose of and in accordance with the Articles of Association, the applicable laws of the Cayman Islands and the Listing Rules, such as the Company's available cash flow or working capital facilities. 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 June 23, 2021, the company had 1,635,541,500 shares in issue.