China 21st Century Education Group Limited commences an Equity Buyback Plan for 116,721,600 shares, representing 10% of its issued share capital, under the authorization approved on June 30, 2021.

China 21st Century Education Group Limited (SEHK:1598) commences share repurchases on January 25, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2021. As per the mandate, the company is authorized to repurchase up to 116,721,600 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 the Articles of Association, the Cayman Companies Law and the Listing Rules. 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 30, 2021, the company had 1,167,216,000 shares in issue.