Prosperity Real Estate Investment Trust commences an Equity Buyback Plan for 153,405,178 shares, representing 10% of its issued share capital, under the authorization approved on May 21, 2021.
May 24, 2021 at 10:21 am
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Prosperity Real Estate Investment Trust (SEHK:808) commences share repurchases on May 24, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 21, 2021. As per the mandate, the company is authorized to repurchase up to 153,405,178 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhancement of the net assets and earning per share. The repurchases will be made out of the funds legally available for such purpose in accordance with the Trust Deed and the applicable laws and regulations of Hong Kong and internal sources of funds of the company or external borrowings. 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 May 21, 2021, the company had 1,534,051,776 shares in issue.
Prosperity Real Estate Investment Trust (REIT) is a Hong Kong-based REIT. The objectives of the REIT are to produce stable and sustainable distributions to unitholders and to achieve long-term growth in the net asset value per unit, by investing in commercial properties portfolio in Hong Kong. The REIT owns high-quality offices, commercial properties, industrial and office properties and industrial properties in the decentralized business districts of Hong Kong. Its investment portfolio includes The Metropolis Tower, Prosperity Place, Trendy Center, New Treasure Center, Prosperity Millennia Plaza, Harbourfront Landmark and Prosperity Center. The REIT is managed by ARA Asset Management (Prosperity) Limited.
Prosperity Real Estate Investment Trust commences an Equity Buyback Plan for 153,405,178 shares, representing 10% of its issued share capital, under the authorization approved on May 21, 2021.