Bosideng International Holdings Limited (SEHK:3998) commences share repurchases on December 23, 2019, under the program mandated by the shareholders in the Annual General Meeting held on August 26, 2019. As per the mandate, the company is authorized to repurchase up to 1,072,450,439 shares, representing 10% of its issued share capital. The purpose of repurchase program is to increase the net asset value and/or earnings per share. The repurchases will be made out of available cash flow or working capital facilities which will be funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of Cayman Islands law and the Memorandum and the Articles. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of August 26, 2019, the company had 10,724,504,385 shares in issue.