Cosmo Lady (China) Holdings Company Limited (SEHK:2298) commences share repurchases on January 16, 2018, under the program mandated by the shareholders in the Annual General Meeting held on May 19, 2017. As per the mandate, the company is authorized to repurchase up to 214,645,700 shares, representing 10% of its issued share capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the bye-laws and the laws of the jurisdiction in which the company is incorporated. The repurchase program will lead to an enhancement of the earnings per share in the company. 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 May 19, 2017, the company has 2,146,457,000 shares in issue.