Cafe de Coral Holdings Limited (00341) plans to repurchase up to HK$50 million of shares.

Cafe de Coral H (00341) announced that the company will implement a share buyback plan, depending on market conditions, to repurchase company shares in the open market for a maximum total amount of HK$50 million. The Board of Directors believes that the current trading price of the company's shares does not fully reflect its intrinsic value and the group's business prospects, and the share buyback plan reflects the Board's confidence in the group's long-term business and growth prospects. In addition, the company believes that by actively optimizing its capital structure through the implementation of the share buyback plan, it can enhance earnings per share and net asset value per share, ultimately benefiting the company and creating greater value for shareholders. The share buyback plan will be funded by internal funds of the company. The company will not repurchase shares in any situation that may have a negative impact on the operating funds needed by the group.