According to Zhitong Finance App, Grain Mill (01837) issued an announcement. The board of directors of the company has decided and approved the implementation of a plan to repurchase the company's common shares in the open market. The repurchase was carried out in accordance with the general authorization approved by the company's shareholders and granted to the directors at the company's annual general meeting of shareholders held on May 22, 2026. According to this, directors can repurchase up to 10% of the common shares (excluding treasury shares) issued on the day the resolution is passed. According to the share repurchase, the company plans to repurchase no more than 36 million shares between October 20, 2026 and January 31, 2027 (including the first and last two days), and has taken into account (including) any impact on the company's working capital and capital liabilities level and current market conditions, subject to applicable laws and regulations, Hong Kong Stock Exchange Limited securities listing rules, corporate mergers and share repurchase rules, and relevant provisions of repurchase authorizations. Shares purchased back on the basis of share repurchase will be cancelled.
The board of directors believes that the current market price of the shares does not fully reflect the relevant value and future prospects of the company. The Company is confident about the Group's business prospects and believes that share buybacks can (depending on current market conditions) increase the net asset value and/or profit per share.