China Motor Bus Company, Limited (SEHK:26) commences share repurchases on March 2, 2023, under the program mandated by the shareholders in the Annual General Meeting held on December 1, 2022. As per the mandate, the company is authorized to repurchase up to 906,161 shares, representing 2% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum and articles of association and the laws of Hong Kong, including profits otherwise available for distribution. Repurchases pursuant to the repurchase mandate will be financed entirely from 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 October 6, 2022, the company had 45,308,056 shares in issue.