Archosaur Games Inc. commences an Equity Buyback Plan for 80,002,263 shares, representing 10% of its issued share capital, under the authorization approved on June 16, 2023.
January 24, 2024 at 05:33 am
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Archosaur Games Inc. (SEHK:9990) commences share repurchases on January 24, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 16, 2023. As per the mandate, the company is authorized to repurchase up to 80,002,263 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 Bye-Laws and the applicable laws of Cayman Islands. 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 June 16, 2023, the company had 800,022,630 shares in issue.
On January 23, 2024, the company announced a share repurchase program. Under the program, the company will repurchase HKD 100 million worth of shares. The company will finance the share repurchase plan from its existing available cash reserves and free cash flow.
ARCHOSAUR GAMES INC is a company mainly engaged in the development and licensing of games. The Company operates three segments. The Development and Licensing segment is involved in developing games and authorizing them to third-party publishers. The segment also provides game management services to the third-party game publishers. The Integrated Game Publishing and Operation segment distributes games through third-party distributors and self-operated distribution channels, such as iOS App Store, Google Play, and Tencent MyApp, and provides services and technical support to the players. The Company also operates Other segment. Its game products include online games, such as Legend of Shushan, and a range of mobile games, such as Loong Craft, Love & Sword, as well as Dragon Raja.
Archosaur Games Inc. commences an Equity Buyback Plan for 80,002,263 shares, representing 10% of its issued share capital, under the authorization approved on June 16, 2023.
ARCHOSAUR GAMES INC. 
