Tu Hu-W (09690) announced that it plans to conduct share repurchases on the public market based on the share repurchase authorization approved by shareholders on June 7, 2024, and/or any updated or renewed share repurchase authorization approved thereafter.
Between March 18, 2024 and April 22, 2024, the company has used more than HKD 204 million to repurchase shares. All repurchased shares have been cancelled on June 3, 2024.
Recently, the board of directors has adopted the second phase of the first public offering after-share plan (existing shares). The rewards to be granted under the second phase of the first public offering after-share plan (existing shares) will only be provided by the existing shares mentioned in the rule 17.01 (1) (b) of the listing rules. The second phase of the first public offering after-share plan (existing shares) constitutes a share plan under Chapter 17 of the listing rules and must comply with the applicable disclosure requirements under Rule 17.12 of the listing rules. As the second phase of the first public offering after-share plan (existing shares) does not involve the issuance of new shares, approval from shareholders is not required for the adoption of the plan.