China XLX Fertiliser Ltd. commences an Equity Buyback Plan for 121,876,300 shares, representing 10% of its issued share capital, under the authorization approved on May 17, 2024.

China XLX Fertiliser Ltd. (SEHK:1866) commences share repurchases on May 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 17, 2024. As per the mandate, the company is authorized to repurchase up to 121,876,300 shares, representing 10% of the issued share capital. The maximum repurchase price will be not more than 105% or more of the average closing price.

The shares repurchased shall be deemed cancelled immediately. The program will be funded from internal resources and/or external borrowings or the funds that are legally available for such purchase or acquisition in accordance with the Constitution and the applicable laws in Singapore and HongKong. The purpose of the program is to enhance EPS and/or NTA per share for the company.

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 17, 2024, the company had 1,218,763,000 shares in issue.