Qeeka Home Inc. commence an Equity Buyback Plan for 115,875,959 shares, representing 10% of its issued share capital, under the authorization approved on May 26, 2021.
July 20, 2021 at 07:10 pm IST
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Qeeka Home (Cayman) Inc. commences share repurchases on July 20, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 26, 2021. As per the mandate, the company is authorized to repurchase up to 115,875,959 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 made from the funds legally available for the purpose in accordance with the Articles and the applicable laws of the Cayman Islands and the Listing Rules. 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 26, 2021, the company had 1,158,759,590 shares in issue.
Qeeka Home (Cayman) Inc is a China-based company that mainly provides Software as a Service (SaaS) solutions for the interior design and construction industries. The Company mainly operates through five segments. SaaS segment mainly provides SaaS-based overall solutions for interior design and construction providers. Marketing Services segment provides value-added services such as budget planning and execution, online marketing, sales lead management, customer engagement and mutual assistance, performance monitoring and analysis tools, and brand credit enhancement services. Supply Chain Services segment provides supply chain services for construction and home decoration materials. Interior Design and Architecture segment provides interior design and architectural services and authorizes its brands to business partners. Innovation and Other segment provide services such as credit solutions, training and consulting services, construction management and social marketing solutions.
Qeeka Home Inc. commence an Equity Buyback Plan for 115,875,959 shares, representing 10% of its issued share capital, under the authorization approved on May 26, 2021.