WL DELICIOUS (09985) has announced that shareholders, at the company's Annual General Meeting held on June 11, 2026, passed a resolution granting the board a general mandate to repurchase shares.
This authorization permits the board to buy back up to 10% of the company's total issued shares (excluding treasury shares, if any) as of June 11, 2026, equating to approximately 243,114,557 shares.
The board intends to exercise this buyback authority, planning to utilize up to HK$200 million of its own funds to repurchase shares in the open market.
The share repurchase program is set to commence from the date of this announcement and will last for a period of six months.
The repurchase price will not exceed 5% above the average closing price of the shares for the five trading days immediately preceding the actual date of any repurchase.
The execution of the buyback will be subject to market conditions, the company's actual needs, and capital management arrangements, and will be carried out at the discretion of the board and/or its authorized persons when deemed appropriate.
The board believes that implementing the share repurchase plan under the current circumstances will not have a materially adverse impact on the group's working capital position or gearing level.
The board is of the view that the share buyback program reflects the company's confidence in its business development prospects and long-term value.
It is also considered to help enhance capital management efficiency and create long-term value for shareholders, aligning with the overall best interests of the company and its shareholders.
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