Union Asia Enterprise Holdings Limited commences an Equity Buyback Plan for 111,225,263 shares, representing 10% of its issued share capital, under the authorization approved on August 9, 2021.

Union Asia Enterprise Holdings Limited (SEHK:8173) commences share repurchases on August 30, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 9, 2021. As per the mandate, the company is authorized to repurchase up to 111,225,263 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company. The repurchases will be made out of funds legally available for such purpose in accordance with the Articles, 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 of August 9, 2021, the company had 1,112,252,631 shares in issue.