News summary
KEEP(03650) announcement statedscratchmarks, will increase to a maximum of 1scratchmarks.16 billion Hong Kong dollarsscratchmarksThe share repurchase funds of the Company show the company's confidence in its business prospects and expect to create value for shareholders.
Newsletter text
[KEEP(03650) plans to increase share repurchase funds to HK$100 million]
According to the latest announcement, KEEP(03650) revealed that the company plans to inject up to HK$16 million for open market share repurchase under the share repurchase authorization approved by the shareholders 'meeting on June 12, 2023. The company has used more than 90% of the repurchase funds, and on May 19, 2024, the board of directors decided to increase the amount of the proposed share repurchase authorization to HK$100 million.
In addition, KEEP's board of directors will continue to follow the shareholder-approved share repurchase mandate and use the company's own financial resources to conduct share repurchase rather than the proceeds of the initial public offering. This move shows that the company is confident in the future development of its business and believes that the repurchase action will create more value for the company and shareholders.
The board of directors firmly believes that the company's current financial resources are sufficient to support the share repurchase plan while maintaining the company's sound financial position.