Gelonghui, April 26 $Dream creation (01119.HK) $ It is announced that the Board intends to exercise the general authority granted to the Board of Directors to repurchase shares of the Company at the annual general meeting of the Company held on 25 June 2021 and to repurchase shares on the floor in due course. The company plans to repurchase the shares at a price not higher than HK $5, with a total amount of no more than HK $200 million.
The Board is of the view that the value of the shares traded on the floor is seriously undervalued and that the current trading price of the shares does not reflect the intrinsic value. The company's current financial and business conditions are good, and there are sufficient financial resources to enable the company to maintain the rapid development of the group business while carrying out the share buyback plan. The Board believes that the proposed share repurchase and subsequent cancellation of the repurchased shares will enhance the value of the shares, thereby enhancing the return of shareholders. The proposed share repurchase also reflects the board's confidence in the company's long-term business prospects and growth potential.