The shareholders of Poly Property Group Co., Limited (SEHK:119) authorized a share repurchase program at its Annual General Meeting on May 15, 2013. Under the program, the company will repurchase up to 364,433,704 shares, representing 10% of its issued share capital. The repurchases will be made out of funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act. The repurchases will ... be in accordance with laws and requirements and regulations of the Stock Exchange of Hong Kong Limited or on any other stock exchange on which the shares of the company may be listed and recognized by the Securities and Futures Commission and the Stock Exchange of Hong Kong Limited for this purpose, subject to and in accordance with all applicable laws and requirements of the Securities and Futures Commission, the Stock Exchange of Hong Kong Limited or any other stock exchange as amended from time to time. The share repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in general meeting revoking or varying the authority given to the directors of the company. As of May 15, 2013, the company has 3,644,337,046 shares outstanding.
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