United Energy Group Limited commences an Equity Buyback Plan for 2,628,992,879 shares, representing 10% of its issued share capital, under the authorization approved on June 1, 2023.

United Energy Group Limited (SEHK:467) commences share repurchases on November 14, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 1, 2023. As per the mandate, the company is authorized to repurchase up to 2,628,992,879 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 Bye-laws, and the applicable laws of Bermuda and Hong Kong. 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 1, 2023, the company had 26,289,928,786 shares in issue.