The shareholders of Kingdee International Software Group Co. Ltd. (SEHK:268) authorized a share repurchase program at its Annual General Meeting on May 8, 2013. Under the program, the company will repurchase up to 251,919,946 shares, representing 10% of its issued share capital. The repurchases will be made out of funds which are legally available for such purpose in accordance with the Memorandum and Articles of Association of the company, the Listing Rules and the ... applicable laws of the Cayman Islands. 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 of Hong Kong and the Stock Exchange for this purpose, subject to and in accordance with all applicable laws and the requirements of the Listing Rules or of any other stock exchange as amended from time to time. The purpose of this repurchase program is to enhance the net asset value and/or the earnings per share of the company. The directors believe that it is in the best interests of the company and its shareholders. The share repurchase program will 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 articles of association of the company or any applicable laws to be held or the date on which the authority set out in this resolution is revoked or varied by an ordinary resolution in general meeting of the company. As of May 8, 2013, the company has 2,519,199,466 shares outstanding.
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