Sun.King Technology Group Limited (SEHK:580) commences share repurchases on August 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 15, 2022. As per the mandate, the company is authorized to repurchase up to 163,994,800?? shares, representing 10% of its issued share capital.

The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association, the applicable laws of the Cayman Islands and the Listing Rules. 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 at June 15, 2022, the company has 1,639,948,000 shares in issue.