MORIMATSU INTL (02155.HK): Proposes Share Buy-Back on the Open Market with Aggregate Amount Not Exceeding HKD 50 Million

NewTimeSpace News: Morimatsu International Holdings Company Limited (stock code: 02155) issued a voluntary announcement on August 10, stating that the Board has resolved to exercise the buy-back mandate to buy back shares on the open market from time to time with an aggregate amount not exceeding HKD 50 million, funded by the Company's internal cash resources.

Reference is made to the Company's announcement dated June 25, 2026, pursuant to which shareholders granted a general mandate (the "Buy-Back Mandate") to buy back shares of the Company at the annual general meeting held on June 25, 2026. Under the Buy-Back Mandate, the Company is authorised to buy back up to 127,132,900 shares on the Stock Exchange, representing 10% of the total number of issued shares (excluding treasury shares) as of the date of the annual general meeting.

According to the announcement, the Board believes that the current trading price of the shares does not reflect their intrinsic value or the Company's actual business prospects, and the proposed buy-back reflects the Company's confidence in its own business development prospects; the Company's current financial resources will enable it to implement the proposed buy-back while maintaining a sound financial position. The Company will conduct the proposed buy-back in strict compliance with its articles of association, the Rules Governing the Listing of Securities on the Stock Exchange, the Codes on Takeovers and Mergers and Share Buy-backs, the Companies Ordinance (Cap. 622 of the Laws of Hong Kong) and other applicable laws and regulations.

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