Starlite Holdings Limited commences an Equity Buyback Plan for 52,513,529 shares, representing 10% of its issued share capital, under the authorization approved on August 20, 2021.
December 31, 2021 at 02:03 pm IST
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Starlite Holdings Limited (SEHK:403) commences share repurchases on December 31, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 20, 2021. As per the mandate, the company is authorized to repurchase up to 52,513,529 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets and/or its earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with its company's ordinance. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of August 20, 2021, the company had 525,135,288 shares in issue.
On November 26, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to HKD 10 million worth of its shares.
Starlite Holdings Limited is a Hong Kong-based investment holding company principally engaged in printing and packaging material businesses. The Company is mainly engaged in printing, as well as the manufacture of packaging materials, labels and paper products, including environmentally friendly paper products, childrenâs books and greeting cards, among others. The Company operates through three geographical segments, including Southern China segment, Eastern China segment and South East Asia segment. It operates businesses in Suzhou, Shanghai, Guangzhou, Shenzhen, Hong Kong, Tokyo, Melbourne, Singapore, Malaysia, London, Paris and New York, among others.
Starlite Holdings Limited commences an Equity Buyback Plan for 52,513,529 shares, representing 10% of its issued share capital, under the authorization approved on August 20, 2021.
STARLITE HOLDINGS LIMITED 