Spring Real Estate Investment Trust commences an Equity Buyback Plan for 149,356,743 shares, representing 10% of its issued share capital, under the authorization approved on June 13, 2023.

Spring Real Estate Investment Trust (SEHK:1426) commences share repurchases on October 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 13, 2023. As per the mandate, the company is authorized to repurchase up to 149,356,743 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per unit.

The repurchase program will be funded out of funds legally available for the purpose in accordance with the Trust Deed and the applicable laws and regulations of Hong Kong. The repurchased shares will be automatically 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 13, 2023, the company has 1,493,567,431 shares in issue.