Karrie International Holdings Limited (SEHK:1050) commences share repurchases on January 19, 2018, under the program mandated by the shareholders in the Annual General Meeting held on August 25, 2017. As per the mandate, the company is authorized to repurchase up to 199,116,120 shares, representing 10% of its issued share capital. The program will be funded from the funds legally available for such purpose in accordance with its Memorandum of Association, the Bye-laws and the laws of Bermuda. The purpose of the program is to enhance the net asset value and/or the earnings per share of the company. The program will expire on the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in general meeting revoking or varying the authority given to the Directors of the company by this resolution, whichever is earlier. As of July 18, 2017, the company had 1,991,161,200 shares in issue.