Ming Yuan Cloud Group Holdings Limited commences an Equity Buyback Plan for 196,859,398 shares, representing 10% of its issued share capital, under the authorization approved on May 27, 2022.

Ming Yuan Cloud Group Holdings Limited (SEHK:909) commences share repurchases on June 13, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2022. As per the mandate, the company is authorized to repurchase up to 196,859,398 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of 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 May 27, 2022, the company had 1,968,593,986 shares in issue.