COMBA (02342) intends to repurchase shares in the market.
Jingxin Communications (02342) announced that the Board of Directors has resolved to authorize the repurchase of up to 50 million shares of the Company's stock, representing approximately 1.60% of the issued shares (excluding treasury shares), through open market purchases. This authorization is in accordance with the general mandate approved by the shareholders at the annual general meeting held on May 21, 2025, and any subsequent updates or re-establishments of the repurchase authorization as approved by shareholders from time to time.
COMBA (02342) announced that the Board of Directors has approved the general mandate for the repurchase of shares, as approved by the company's shareholders at its Annual General Meeting held on May 21, 2025, and any subsequent updates or re-establishment of the general mandate for the repurchase of shares as and when approved by the shareholders (if applicable), to repurchase up to 50 million shares of the company on the open market, representing approximately 1.60% of the issued shares (excluding treasury shares) (share repurchase).
The Board believes that this share repurchase will demonstrate the company's confidence in its business outlook and prospects, and will ultimately bring benefits to the company and create value for shareholders. The funds required for the share repurchase will be financed by the company's cash flow and operational funds. The Board also believes that the company's existing financial resources are sufficient to maintain a strong financial position while implementing the share repurchase. Therefore, the company believes that the share repurchase is in the overall interests of the company and its shareholders.
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