Chong Kin Group Holdings Limited (SEHK:1609) announces a share repurchase program. Under the program, the company will repurchase up to 120,000,000 shares, representing 10.96% of its issued share capital, in exchange for one Adjusted Kingdom Share equivalent to approximately HKD 199.85 million, based on the unaudited consolidated net asset value of the Kingdom Group as of March 31, 2023. The shares will be repurchased at a price of HKD 1.67 per share.

Shares bought-back will be cancelled. If the number of Shares validly tendered exceeds the maximum number, the number of shares to be bought-back from each accepting shareholder will be reduced proportionally so that the number of shares bought-back by the company in aggregate is equal to the maximum number. The buy-back offer is conditional upon the obtaining of the approval of shareholders in EGM.

The Buy-back offer will be open for acceptances for at least 21 days from the date of the offer document. As of April 28, 2023, the company has 1,095,388,000 shares in issue.