PATEO (02889) announced its intention to utilize the general buyback mandate granted to the board of directors by shareholders through a special resolution passed at an extraordinary general meeting held on March 26, 2026. This authorization empowers the company to repurchase its H-shares. Under the buyback mandate, the company is permitted to repurchase up to 10% of the total issued H-shares as of the extraordinary general meeting, which amounts to a maximum of 7,099,800 H-shares. To promote the company's sustainable operation and development, safeguard the long-term interests of investors, and maximize shareholder value, and after comprehensive consideration of the company's current operational status, financial condition, and future development prospects, the board of directors has decided to proceed with the share repurchase. The repurchases will be conducted intermittently in the open market based on market conditions and the buyback authorization, starting from the first trading day after the board meeting convened to approve the group's annual results until the conclusion of the company's next annual general meeting (at which point the buyback mandate will expire) or until shareholders revoke or amend the mandate at a general meeting. The actual repurchase price per H-share shall not exceed 5% of the average closing price of the H-shares over the five trading days immediately preceding each repurchase. The board of directors believes that the H-share buyback plan is in the overall best interests of the company and its shareholders.
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