Techtronic Industries Company Limited (SEHK:669) commences share repurchases on May 21, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2024. As per the mandate, the company is authorized to repurchase up to 183,460,794 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the company?s net asset value per share and earnings per share.

The program will be funded from the company's available cash flow or working capital facilities and the funds of the company legally available for such purpose in accordance with the Articles of Association and the laws of Hong Kong, including profits otherwise available for distribution. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of May 10, 2024, the company had 1,834,607,941 shares in issue.