Spring Real Estate Investment Trust commences an Equity Buyback for 147,930,256 shares, representing 10% of its issued share capital, under the authorization approved on May 26, 2022.

Spring Real Estate Investment Trust (SEHK:1426) commences share repurchases on May 27, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 26, 2022. As per the mandate, the company is authorized to repurchase up to 147,930,256 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 Trust Deed and the applicable laws and regulations of Hong Kong. The repurchased shares will be automatically cancelled. 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 May 26, 2022, the company has 1,479,302,559 shares in issue.