China Logistics Property Holdings Co., Ltd. (SEHK:1589) commences share repurchases on January 17, 2019 under the program mandated by the shareholders in the Annual General Meeting held on June 8, 2018. As per the mandate, the company is authorized to repurchase up to 324,354,320 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share. The repurchases will be funded from the company’s available cash flow or working capital facilities, which will be legally available for such purpose in accordance with its memorandum and articles of association, the laws of Cayman Islands, and other applicable laws. 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 8, 2018, the company had 3,243,543,199 shares in issue.