Vantage International (Holdings) Limited (SEHK:15) commences share repurchases on April 18, 2017, under the program mandated by the shareholders in the Annual General Meeting held on August 17, 2016. As per the mandate, the company is authorized to repurchase up to 174,726,440 shares, representing 10% of its issued share capital. Repurchases must be funded entirely from the company’s available cash flow or working capital facilities, which will be legally available for the purpose in accordance with the Bye-laws and the applicable laws of Bermuda. The repurchases may, depending on market conditions and funding arrangements at the time, lead to an enhancement of the net value of the Company and its assets and/or its earnings per share and will only be made when the Directors believe that such repurchases will benefit the company and its shareholders. The share 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 the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the Directors of the company by this resolution. As of August 17, 2016, the company has 1,747,264,400 shares in issue.