Adicon Holdings Limited commences an Equity Buyback for 72,735,479 shares, representing 10% of its issued share capital, under the authorization approved on May 30, 2024.
June 10, 2024 at 07:32 am EDT
Share
Adicon Holdings Limited (SEHK:9860) commences share repurchases on June 7, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 30, 2024. As per the mandate, the company is authorized to repurchase up to 72,735,479 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 and Articles of Association, the Listing Rules, the laws of the Cayman Islands and/or any other applicable laws. The company may cancel the repurchased shares following settlement of any such repurchase or hold them 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 May 30, 2024, the company has 727,354,791 shares in issue.
On May 30, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 36,367,739, representing 5% of its issued share capital. The repurchases will commence on June 4, 2024.
Adicon Holdings Ltd is an investment holding company principally engaged in the provision of independent clinical laboratory (ICL) services. The Company primarily provides testing services to hospitals, medical institutions, medical examination centers, consumers, pharmaceutical companies and contract research organizations (CROs). The Company's inspection services mainly include routine tests, esoteric tests, clinical immunologic testing, clinical chemistry testing, clinical molecular biology testing, pathology testing and others testing. The Company is also engaged in the sales of medical testing equipment. The Company principally conducts its businesses in the domestic market.
Adicon Holdings Limited commences an Equity Buyback for 72,735,479 shares, representing 10% of its issued share capital, under the authorization approved on May 30, 2024.
ADICON HOLDINGS LIMITED 
