STAR SPORTS MED (01609.HK): launches H-share buyback plan, cumulative maximum of 2.9 million shares
NewTimeSpace News: On 18 August 2026, Star Sports Medicine Co., Ltd. (stock code: 01609) announced in a voluntary announcement that the Board has resolved to implement an H-share buyback plan under the repurchase mandate, purchasing H-shares in the open market from time to time, with a cumulative maximum of 2.9 million H-shares, representing approximately 5.29% of the Company's total issued H-shares as of the date of this announcement.
According to the announcement, the Company's 2025 annual general meeting held on 26 June 2026 approved the grant of a general mandate to the Board to repurchase H-shares, authorizing the repurchase of up to 10% of the total issued H-shares as at the date of the relevant resolution (i.e., 5,483,134 H-shares). Under Rule 10.06 of the Listing Rules, the price paid for share repurchases shall not be higher than 105% of the average closing price as quoted on the Stock Exchange in the five trading days immediately preceding the relevant repurchase transaction.
The repurchased shares will be held as treasury shares, intended for resale, equity incentive plans or other purposes permitted by applicable laws and regulations, with the Company proposing to fund the repurchase with its own funds. The announcement states that the Board considers timely share repurchases can reflect the Company's confidence in its business prospects and long-term value, helping to enhance per-share value and overall shareholder returns; the Company will not conduct repurchases that would result in non-compliance with applicable public float requirements, nor will it repurchase H-shares from core connected persons. The announcement also cautions that share repurchases are subject to market conditions and the Board's absolute discretion, with no guarantee as to the timing, quantity or price of any repurchase.
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