Asia Tele-Net and Technology Corporation Limited commences an Equity Buyback for 27,576,738 shares, representing 7% of its issued share capital, under the authorization approved on June 19, 2023.

Asia Tele-Net and Technology Corporation Limited (SEHK:679) commences share repurchases on January 8, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 19, 2023. As per the mandate, the company is authorized to repurchase up to 27,576,738 shares, representing 7% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be financed out of company?s available cash flow or working capital facilities, which will be funded by resources legally available for that purpose in accordance with the company?s Bye-laws and the laws of Bermuda. 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 June 19, 2023, the company has 393,953,400 shares in issue.