Shun Tak Holdings Limited (SEHK:242) commences share repurchases on January 15, 2018 under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2017. As per the mandate, the company is authorized to repurchase up to 304,246,578 shares, representing 10% of the issued share capital. The repurchase program will lead to an enhancement of the net assets value of the company and/or its earnings per share for the company. The shares will be repurchased from the company’s available cash flow or working capital facilities which will be the funds which are legally available for the purpose in accordance with the constitutive documents and the laws of the jurisdiction in which the company is incorporated or otherwise established. 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 the company 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 June 23, 2017, the company had 3,042,465,785 shares in issue.