Gelonghui, December 18丨Tianrunyun (02167.HK) announced that according to the resolution passed by the company's shareholders at the annual general meeting held on May 25, 2023, the board of directors of the company was granted general authorization to repurchase up to 17,400,040 shares of the company's shares, accounting for 10% of the total number of shares issued as of May 25, 2023, until (i) the end of the company's next annual shareholders' meeting; or (ii) any relevant legislation or the company's revised and rearranged rules of association stipulate that the company must hold the next annual shareholders' meeting At the end of the term; or (iii) the date on which the authorization to repurchase shares is withdrawn or amended through an ordinary resolution passed by shareholders at the shareholders' meeting (whichever occurs earlier).
On December 18, 2023, the board of directors formally resolved to exercise the above share repurchase authorization to repurchase shares on the open market from time to time with a maximum total amount of HK$10 million. The company will propose share repurchases in accordance with the Articles of Association, the Hong Kong Stock Exchange Limited stock listing rules, corporate acquisitions, mergers and share repurchase codes, the Cayman Islands Company Law, and all other applicable laws and regulations.
The Board of Directors believes that the proposed share repurchase reflects the Board's confidence in the long-term strategy and development of the Company. The Board of Directors believes that the proposed share repurchase is in the overall best interests of the Company and its shareholders.