Gushengtang Holdings Limited (SEHK:2273) commences share repurchases on June 18, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 18, 2024. As per the mandate, the company is authorized to repurchase up to 24,504,469 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share.

The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association, the Cayman Companies Act and/or any other applicable laws. The repurchased shares will be cancelled or held as treasury shares. 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 at June 18, 2024, the company has 245,044,692 shares in issue.