China Literature Limited commences an Equity Buyback Plan for 102,202,654 shares, representing 10% of its issued share capital, under the authorization approved on May 23, 2022.

China Literature Limited (SEHK:772) commences share repurchases on September 28, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2022. As per the mandate, the company is authorized to repurchase up to 102,202,654 shares, representing 10% 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 funded out of funds legally available for such purpose in accordance with the Articles of Association and the applicable laws of the Cayman Islands. 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 May 23, 2022, the company had 1,022,026,549 shares in issue.

During August 2022, the company announces a share repurchase program for repurchase of up to RMB700 million. The plan will run for next 12 months.