Chinese Energy Holdings Limited (SEHK:8009) commences share repurchases on January 11, 2018 under the program mandated by the shareholders in the Annual General Meeting held on August 14, 2017. As per the mandate, the company is authorized to repurchase up to 5,400,054 shares, representing 10% of the issued share capital of the company as on the meeting date. The purpose of the buyback is to enhance the net asset value per share. Repurchases of shares will be funded from the company’s internal resources, which shall be funds legally available for such purposes in accordance with the articles of association, the GEM listing rules, the companies ordinance and/or any other applicable laws, as the case may be. The repurchase program shall be valid up to the earliest of the conclusion of the next annual general meeting of the company or the revocation or variation of the authority given under this resolution by ordinary resolution passed by the company’s shareholders in general meetings or the expiration of the period within which the next annual general meeting of the company is required by the articles of association of the company or any applicable laws to be held. As on August 14, 2017, the company had 2,160,021,500 shares in issue.