Maoyan Entertainment has revealed that its board of directors has approved a share repurchase initiative based on market conditions.
The company plans to exercise its share buyback authorization periodically in the open market, starting from the date of this announcement until the date of the company's next annual general meeting to be held in 2027.
Under the proposed buyback plan, Maoyan Entertainment intends to use no more than approximately HK$250 million to repurchase shares.
The company will fund the repurchases through its existing available cash reserves and free cash flow.
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