PROPOSED GRANTING OF GENERAL MANDATE TO REPURCHASE SHARES Sample Clauses

PROPOSED GRANTING OF GENERAL MANDATE TO REPURCHASE SHARES. At the annual general meeting of the Company held on 9 September 2022, a general mandate was granted to the Directors to repurchase Shares. Such mandate will lapse at the conclusion of the AGM. In order to give the Company the flexibility to repurchase Shares if and when appropriate, an ordinary resolution will be proposed at the AGM to approve the granting of the Share Repurchase Mandate to the Directors to repurchase Shares on GEM of the Stock Exchange of not exceeding 10% of the total number of issued Shares of the Company as at the date of passing of the proposed ordinary resolution contained in item 4 of the notice of the AGM as set out on page 77 of this circular (i.e. a total of 99,980,816 Shares on the basis that the issued share capital of the Company remains 999,808,161 shares from the Latest Practicable Date to the date of the AGM). An explanatory statement required by the GEM Listing Rules to provide the Shareholders with requisite information reasonably necessary for them to make an informed decision on whether to vote for or against the granting of the Shares Repurchase Mandate is set out in Appendix II to this circular.
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