InnoCare Pharma Limited (SEHK:9969) commences share repurchases on September 20, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 2, 2023. As per the mandate, the company is authorized to repurchase up to 149,967,323 shares, representing 8.5% 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 its memorandum of association and Bye-laws and the applicable laws and regulations of 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 2, 2023, the company had 1,764,321,452 shares in issue including 1,499,673,235 Hong Kong Shares and 264,648,217 RMB Shares.

On September 8, 2023, the company announced a share repurchase program. Under the program, the company will repurchase HKD 200 million worth of shares. The share will be repurchased from company's own financial resources. The repurchased shares will be cancelled.