Zhitong Finance App News, Heritage Education Group (08195) issued an announcement that it may exercise the power of the Company's shareholders under the general mandate to repurchase the Company's shares granted at the Company's Annual General Meeting of Shareholders to be held on September 29, 2025 and (if applicable) the repurchase authorization to be granted at the recent Annual General Meeting of Shareholders (2026 Annual General Meeting of Shareholders) to be held by the Company on September 29, 2026. According to the relevant repurchase authorization (repurchase authorization), the total number of shares authorized to be repurchased by the Company shall not exceed 10% of the total number of shares issued on the date of adoption of the ordinary resolution (excluding treasury shares (if any)).
The board of directors has decided that in accordance with the terms of the repurchase authorization and/or after the relevant resolution is passed at the 2026 Annual General Meeting of Shareholders, the Company may from time to time repurchase shares up to HK$30 million (share repurchases) in the open market from time to time from the date of this announcement until the end of the annual general meeting of shareholders to be held by the Company in 2027. Share repurchases will be disbursed using internal resources that the Group can lawfully use for share repurchase purposes. The Company may cancel any purchased shares or hold them as treasury shares in accordance with (among others) applicable law, market conditions, and capital management needs at the time of share repurchase.
The board of directors believes that repurchasing shares under the current circumstances will demonstrate the company's confidence in its own business prospects and prospects, enhance investor confidence, and ultimately benefit the company and shareholders. Share repurchases will only be carried out if the board of directors deems it appropriate and in the overall interests of the Company and its shareholders. Furthermore, the Board believes that the Group's existing financial resources are sufficient to support share buybacks while maintaining a sound financial position.