The shareholders of Pacific Century Premium Developments Ltd (SEHK:432) authorized a share repurchase program at its Annual General Meeting on May 8, 2013. Under the program, the company will repurchase up to 39,766,671 shares, representing 10% of its issued share capital. 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 shares of the company may be listed ... and recognized by the Securities and Futures Commission or the Stock Exchange for this purpose, subject to and in accordance with all applicable laws and the requirements of the Rules Governing the Listing of Securities on the Stock Exchange or any other stock exchange, as amended from time to time. The repurchases will be made out of funds which are legally available for the purpose in accordance with the Memorandum of Association of the company and the bye-laws and the Companies Act 1981 of Bermuda. The share repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting of the company or the expiration of the period within which the next Annual General Meeting of the company is required by any applicable laws of Bermuda or the bye-laws of the company to be held or the revocation or variation of the authority given under this Resolution by an ordinary resolution of the shareholders of the company in general meeting. As of March 21, 2013, the company has 397,666,713 shares outstanding.
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