IGG Inc commences an Equity Buyback Plan for 119,797,659 shares, representing 10% of its issued share capital, under the authorization approved on June 29, 2023.
October 31, 2023 at 06:37 pm EDT
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IGG Inc (SEHK:799) commences share repurchases on October 31, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2023. As per the mandate, the company is authorized to repurchase up to 119,797,659 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.
The repurchases will be made out of the funds legally available for such purpose in accordance with the company?s memorandum of association, the Articles, the Companies Law and other applicable laws of the Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 29, 2023, the company has 1,198,006,599 shares in issue.
IGG Inc is a Singapore-based investment holding company. The Company is principally engaged in the development and operation of mobile online games with a global presence and international customer base. The Company is focused on investing in mobile Internet and gaming-related companies and funds. The Company's geographical segments include Asia, North America, Europe, and Others. The Company's games include, Yeager (Hunter Legend), Lords Mobile, Time Princess, Mobile Royale, Castle Clash, New Titles, Mythic Heroes, Deck Heroes, Deck Heroes, Rage of Destiny, Dawn of Dynasty and Texas HoldEm Poker Deluxe. The Company offers mobile games and applications in approximately 23 different languages. The Company's subsidiaries include Fuzhou TJ Digital Entertainment Co., Ltd, Fuzhou Skyunion Digital Co., Ltd, Hainan Tianzhi Network Technology Co., Ltd, IGG (Hainan) Capital Co., Ltd., IGG Capital, IGG Capital Limited and others.
IGG Inc commences an Equity Buyback Plan for 119,797,659 shares, representing 10% of its issued share capital, under the authorization approved on June 29, 2023.