Biopharmaceutical firm BRII-B (ASX: 02137) has announced its intention to repurchase company shares.
The board of directors intends to exercise its powers under the general mandate granted by shareholders to repurchase up to 10% of the company's issued share capital (excluding treasury shares) as of June 16, 2026. Shares repurchased under this authority may be cancelled and/or held as treasury shares, depending on factors including market conditions at the time of repurchase and the company's capital management requirements.
Considering that the company's current share price undervalues its performance, asset value, and business prospects, the board resolved on June 17, 2026, to utilize the repurchase authority. The company plans to actively implement an on-market share buyback program on the open market from time to time, in response to market conditions.
Under this share repurchase plan, the total funds used will not exceed HK$60 million. The plan is effective from the date of this announcement until the date of the company's next annual general meeting in 2027.
The board believes the share repurchase program will further demonstrate the company's confidence in its business outlook and prospects. It is expected to ultimately benefit the company and create value for shareholders.
The board is confident that, utilizing existing financial resources, the company can implement the share repurchase while maintaining a sound financial position.
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