NEXTEER (01316) approves a share repurchase program of up to US$60 million

NEXTEER (01316) announced that on November 11, 2026, it approved a share repurchase program with a total amount of up to US$60 million (equivalent to approximately HK$471 million), which will be the first such program to be implemented by the Company. Depending on market conditions, the Company's capital requirements and the Board's ongoing assessment, the share repurchase program is expected to remain in effect from the date of Board approval until the earliest of: (i) the conclusion of the Company's next annual general meeting; (ii) the date by which the Company is required under applicable law or the articles of association to hold the next annual general meeting; or (iii) the date on which such authority is revoked or amended by shareholders by ordinary resolution at a general meeting of the Company. The actual timing, number and price of any repurchases will be determined from time to time. There is no guarantee as to the timing, number or price of any repurchases, nor any guarantee that the share repurchase program will be fully implemented or implemented at all. The Board believes that the share repurchase program reflects its confidence in the underlying strength of the Group's business and its long-term prospects. The Group's strong liquidity position provides a solid foundation for enhancing shareholder returns while continuing to support its business needs and future development.