Robosense Technology Co., Ltd (SEHK:2498) commences share repurchases on July 8, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 27, 2024. As per the mandate, the company is authorized to repurchase up to 45,093,942 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association, the Listing Rules, the applicable laws of the Cayman Islands and/or any other applicable laws. The repurchased shares will be automatically delisted and cancelled. 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 at June 27, 2024, the company has 450,939,423 shares in issue.

On July 5, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to HKD 200 million worth of its shares. The company intends to finance the repurchases by its own financial resources (other than the proceeds raised from its global offering).