China Star Entertainment Limited commences an Equity Buyback Plan for 248,585,047 shares, representing 10% of its issued share capital, under the authorization approved on June 29, 2022.

China Star Entertainment Limited (SEHK:326) commences share repurchases on September 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2022. As per the mandate, the company is authorized to repurchase up to 248,585,047 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share.

The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association, the bye-laws, and the companies Act. 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 29, 2022, the company had 2,485,850,479 shares in issue.