Honma Golf Limited commences an Equity Buyback for 60,905,000 shares, representing 10% of its issued capital, under the authorization approved on September 12, 2019.
February 19, 2020
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Honma Golf Limited (SEHK:6858) commences share repurchases on February 18, 2020, under the program mandated by the shareholders in the Annual General Meeting held on September 12, 2019. As per the mandate, the company is authorized to repurchase up to 60,905,000 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets and/or its earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with its company’s ordinance. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of September 12, 2019, the company had 609,050,000 shares in issue.
Honma Golf Limited is a Japan-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the research, design, manufacturing and sales of golf related products. The Company mainly operates two segments, including sales of goods, which include golf clubs, golf balls and apparel, accessories and other related products, as well as rendering of services, which primarily include maintenance and repair services for the golf clubs. The Company operates its business worldwide, primarily in Asia and also across North America, Europe and other regions. The Companyâs subsidiaries include Seiyou Holdings Limited, Honma Holdings Group Limited, Honma Golf Co., Ltd, as well as World Power International Trading (Shanghai) Company Limited, among others.
Honma Golf Limited commences an Equity Buyback for 60,905,000 shares, representing 10% of its issued capital, under the authorization approved on September 12, 2019.