GME Group Holdings Limited commences an Equity Buyback Plan for 48,780,800 shares, representing 10% of its issued share capital, under the authorization approved on May 24, 2024.

GME Group Holdings Limited (SEHK:8188) commences share repurchases on June 5, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 24, 2024. As per the mandate, the company is authorized to repurchase up to 48,780,800 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share.

The repurchases will be funded out of funds legally available for the purpose in accordance with the articles and association, the GEM listing rules and the applicable laws of the Cayman Islands. 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 on April 11, 2024, the company had 487,808,000 shares in issue.