The Pacific Shipping Company (02343) plans to implement a share buyback program.

The Pacific Shipping (02343) announced that the company plans to implement a share buyback plan from March 3, 2025 to December 31, 2025 (inclusive of the first and last days). According to the share buyback plan, the company intends to repurchase its shares in the open market within the following parameters: the upper limit of funds for repurchasing shares is 40 million US dollars. For illustration purposes, if the full 40 million US dollars is used, based on the closing price of 1.57 Hong Kong dollars per share on February 28, 2025, the shares that can be repurchased on the announcement date account for approximately 3.85% of the total issued shares. According to the listing rules, the repurchase price per share shall not exceed 5% or more than the average closing price of the shares in the five trading days immediately preceding each repurchase. The company plans to use its available cash flow and internal resources to fund the share buyback while maintaining sufficient financial resources to support the continued growth of the business.