Tao Heung Holdings Limited (SEHK:573) commences share repurchases on November 16, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 21, 2021. As per the mandate, the company is authorized to repurchase up to 101,634,800 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands and would be made out of the profits of the company or the proceeds of a fresh issue made for the repurchase or out of capital provided that on the day immediately following the date of repurchase the company is able to pay its debts as they fall due in the ordinary course of business. 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 21. 2021, the company had 1,016,348,000 shares in issue.