EASOU TECH (02550) Plans to Use Up to HK$20 Million for Share Buybacks on the Open Market

Stock News05-31

EASOU TECH (02550) has announced its intention to utilize the general mandate granted to the board by a resolution passed at the company's annual general meeting held on June 27, 2025, to repurchase its own ordinary shares. This repurchase authorization allows the board to exercise the company's power to buy back shares, up to a maximum of 10% of the total number of issued shares on the date the relevant resolution was passed.

The board has resolved that, subject to market conditions, the company plans to use up to HK$20 million to repurchase shares on the open market from time to time within a six-month period commencing from the date of this announcement. This plan will be executed under the aforementioned repurchase authorization and, if applicable, any general mandate for share repurchases to be proposed at the company's forthcoming annual general meeting scheduled for June 30, 2026.

Funding for the share repurchase program will be sourced from the company's existing available cash reserves. Any shares repurchased under this plan are intended to be held as treasury shares. Subsequently, these shares may be cancelled, sold, or transferred, including for the purpose of funding the 2025 Share Award Scheme II.

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