CHINA RES GAS (01193) plans to repurchase at least 45,797,400 shares in the open market as authorized.

CHINA RES GAS(01193) announced that the board of directors has resolved to repurchase at least 45,797,400 shares of the company on the open market, accounting for approximately 1.98% of the total issued share capital, in accordance with the share repurchase authorization approved by the company's shareholders at the annual general meeting held on May 24, 2024, and any subsequent updates or re-establishments of the share repurchase authorization approved by the shareholders from time to time. The board may repurchase more shares on the open market as deemed necessary. The announcement stated that the share repurchase demonstrates the company's confidence in its business outlook and prospects, and will ultimately bring benefits to the company and create value for its shareholders. The proposed share repurchase will be funded by the company's internal cash resources. The board believes that the company's existing financial resources are sufficient to support the share repurchase while maintaining a strong financial position. Therefore, the company believes that the proposed share repurchase is in the overall interests of the company and its shareholders. As of the date of this announcement, the trust under the plan holds a total of 45,797,400 shares, accounting for approximately 1.98% of the total issued share capital. The company has been informed that the trustee will sell the shares held by them in accordance with the terms of the plan and in a manner they deem appropriate. The company will arrange for the funds in the trust to be remitted to the company after the termination of the plan.