China CBM Group Company Limited commences an Equity Buyback for 207,800,024 shares, representing 10% of its issued share capital, under the authorization approved on May 30, 2022.

China CBM Group Company Limited (SEHK:8270) commences share repurchases on January 5, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 30, 2022. As per the mandate, the company is authorized to repurchase up to 207,800,024 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made from funds legally available for the purpose in accordance with the Byelaws, the laws of Bermuda and the GEM Listing Rules. 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 April 19, 2022, the company had 2,078,000,248 shares in issue.