Yip's Chemical Holdings Limited (SEHK:408) commences share repurchases on July 10, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 3, 2024. As per the mandate, the company is authorized to repurchase up to 56,848,409 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with the law of the Cayman Islands and the Articles. 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 June 3, 2024, the company had 568,484,096 shares in issue.

On June 17, 2024, the company announced a share repurchase program. Under the program, the company will repurchase HKD 30 million worth of shares. The purchase price of the Shares will not be higher by 5% or more than the average closing market price of the Shares on The Stock Exchange of Hong Kong Limited for the 5 trading days preceding the date of each repurchase under the Share Buyback Program. The program will be financed by internal resources. The repurchases will commence from June 18, 2024. The company will subsequently cancel the bought shares.