China Everbright Water Limited (SGX:U9E) commences share repurchases on January 14, 2016, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 15, 2015. As per the mandate, the company is authorized to repurchase up to 260,801,426 shares, representing 10% of the issued ordinary share capital. The repurchases will made on market repurchases or through off-market purchase effected otherwise than on the SGX-ST in accordance with any equal access scheme.

In case of on market repurchases, the maximum price that will be paid by the company for repurchases will be 5% above the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made. While in case of off-market repurchases, the maximum price that will be paid by the company for repurchases will be 5% above the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded immediately preceding the date of offer by the company. The share buyback program shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required to be held, the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked.