Chuang's Consortium International Limited (SEHK:367) commences share repurchases on January 2, 2018 under the program mandated by the shareholders in the Annual General Meeting held on September 8, 2017. As per the mandate, the company will repurchase up to 167,719,310 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement in the net asset value of the company and/or earnings per share. The repurchases must be made out of funds which are legally available for such purpose in accordance with the memorandum of association of the company, the bye-laws and the laws and regulations of Bermuda. It is envisaged that the funds required for any repurchase would be derived from the distributable profits, the share premium and/or contributed surplus, if any, of the company. The program shall be valid until the earliest of the conclusion of the next Annual General Meeting of the company, 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 the resolution. As of September 8, 2017, the company had 1,677,193,104 shares in issue.