Coslight Technology International Group Ltd. (SEHK:1043) commences share repurchases on January 16, 2017 under the program mandated by the shareholders in the Annual General Meeting held on June 1, 2016. As per the mandate, the company is authorized to repurchase up to 39,973,400 shares, representing 10% of its issued share capital. The shares will be repurchased on The Stock Exchange of Hong Kong Limited or on any other Stock Exchange on which the securities of the company may be listed and recognized for the purpose by the Securities and Futures Commission of Hong Kong and the Stock Exchange under the Code on Share Buy-backs of Hong Kong. Any repurchase would be funded out of funds legally available for the purpose in accordance with the Bye-laws and the applicable laws of Bermuda. The repurchases will lead to an enhancement of the net assets and/or its earnings per share and/or dividend per share. The Directors consider the share repurchase program to be in the best interests of the company and its shareholders. The program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company by the resolution. As of June 1, 2016, the company had 399,734,000 shares in issue.