Jiumaojiu International Holdings Limited commences an Equity Buyback for 143,656,770 shares, representing 10% of its issued share capital, under the authorization approved on June 6, 2024.
June 14, 2024 at 11:17 am
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Jiumaojiu International Holdings Limited (SEHK:9922) commences share repurchases on June 14, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 6, 2024. As per the mandate, the company is authorized to repurchase up to 143,656,770 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum of Association and the Articles of Association, the Listing Rules, the laws of the Cayman Islands and/or any other applicable laws. The repurchased shares will be cancelled or held as treasury shares. 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 at June 6, 2024, the company has 1,436,567,700 shares in issue.
On June 13, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to HKD 200 million worth of its shares. The repurchased shares will be cancelled. The program will be funded with the company?s existing available cash reserves.
JIUMAOJIU INTERNATIONAL HOLDINGS LIMITED is an investment holding company. The Company is mainly engaged in the brand management and operation of Chinese cuisine, including closed operations, takeaways, and specialty product sales. The Company focuses on serving cuisines with quick services, creating a casual and upscale ambience with modern decoration of our restaurants which are primarily located in shopping mall. The Company manages and operates five self-developed brands, namely, JiuMao Jiu, Tai Er, Double Eggs, Cooking Spicy Kebab and Uncle Chef. The Company mainly operates its business in the domestic market.
Jiumaojiu International Holdings Limited commences an Equity Buyback for 143,656,770 shares, representing 10% of its issued share capital, under the authorization approved on June 6, 2024.