Comba Telecom Systems Holdings Limited commences an Equity Buyback Plan for 276,575,266 shares, representing 10% of its issued share capital, under the authorization approved on May 23, 2024.

Comba Telecom Systems Holdings Limited (SEHK:2342) commences share repurchases on June 3, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2024. As per the mandate, the company is authorized to repurchase up to 276,575,266 shares, representing 10% of its issued share capital. The repurchases would be funded entirely from the company?s cash flow or working capital facilities, which will be funds legally available for such purpose under the laws of the Cayman Islands, and the Articles of Association.

The repurchase program will lead to an enhancement of the net assets per share and/or earnings per share. 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 May 23, 2024, the company has 2,765,752,668 shares in issue.