Ocumension Therapeutics commences an Equity Buyback for 69,071,128 shares, representing 10% of its issued share capital, under the authorization approved on June 16, 2023.

Ocumension Therapeutics (SEHK:1477) commences share repurchases on December 13, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 16, 2023. As per the mandate, the company is authorized to repurchase up to 69,071,128 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association, the Listing Rules and the applicable laws and regulations 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 at June 16, 2023, the company has 690,711,280 shares in issue.

On November 29, 2023, the company announce a share repurchase program. Under the program, the company will repurchase up to HKD 100 million worth of its shares. The repurchase program will be funded from the company?s existing available cash. The repurchased shares will be cancelled.