Paladin Ltd. (SEHK:495) commences share repurchases on January 6, 2016, under the program mandated by the shareholders in the Annual General Meeting held on December 8, 2015. As per the mandate, the company is authorized to repurchase up to 133,744,710 shares, representing 10% of its issued share capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the constitutive documents and the laws of the jurisdiction in which Paladin is incorporated or otherwise established.

The purpose of this repurchase program is to enhance the net asset value and/or the earnings per share of Paladin. This program will be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of Paladin is required by its bye-laws to be held or the passing of an ordinary resolution by its shareholders in general meeting revoking or varying the authority given to its directors by this resolution. As of December 8, 2015, the company has 1,337,447,105 shares outstanding.