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(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 00829) VOLUNTARY ANNOUNCEMENT SHARE REPURCHASE
This is a voluntary announcement made by Shenguan Holdings (Group) Limited (the "Company") to provide its shareholders and potential investors with information in relation to the development of the Company.
Pursuant to the repurchase mandate granted to the board of directors of the Company (the "Board") at the annual general meeting of the Company held on 19 May 2014 (the "AGM") for repurchase of shares not exceeding 10% of the issued share capital of the Company as at the date of the AGM (the "Repurchase Mandate"), the Company purchased 500,000 shares of its own ordinary shares of HK$0.01 each in the capital of the Company on 29 October 2014 at the highest and lowest prices of HK$2.22 per share and HK$2.18 per share respectively and the average price of HK$2.19 per share (the "Shares Repurchase on 29 October
On 30 October 2014, the Company further purchased 1,500,000 shares of its own ordinary shares of HK$0.01 each in the capital of the Company at the highest and lowest prices of HK$2.18 per share and HK$2.08 per share respectively and the average price of HK$2.15 per share (the "Shares Repurchase on 30 October 2014"). The aggregate purchase price paid for the Shares Repurchase on 30 October 2014 was approximately HK$3,224,000. The Shares Repurchase on 30 October 2014 represents approximately 0.045% of the issued share capital of the Company immediately prior to such repurchase of shares.
Since the date of the grant of the Repurchase Mandate and as at the date of this announcement, the Company has repurchased an aggregate of 19,300,000 shares of the Company under the Repurchase Mandate, representing approximately 0.58% of the issued share capital of the Company as at the date of the AGM.
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The Board considers that the value of the Company's shares is consistently undervalued. The Board believes that the current financial resources of the Company would enable it conducting the share repurchase while maintaining a solid financial position for the continuation of the Company's business in the current financial year.
By Order of the Board
Shenguan Holdings (Group) Limited Zhou YaxianChairman
Hong Kong, 30 October 2014
As at the date of this announcement, the executive Directors are Ms. Zhou Yaxian, Mr. Shi Guicheng, Mr. Ru Xiquan and Mr. Mo Yunxi; the non-executive Director is Mr. Low Jee Keong; and the independent non-executive Directors are Mr. Tsui Yung Kwok, Mr. Meng Qinguo and Mr. Yang Xiaohu.
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