00106.HK announced that on June 1, 2022 (EDT), LHC, an indirect wholly-owned subsidiary of the company, entered into a share repurchase agreement with Landsea Homes, under which LHC agreed to sell and Landsea Homes agreed to repurchase shares (equivalent to approximately 9.7% of the issued and tradable shares of LSEA shares on the date of the announcement) in accordance with the terms and conditions of the share repurchase agreement. The repurchase price is $6.82 per LSEA share and the total consideration is approximately $30 million.

Assuming that there is no other change in the number of LSEA shares held by LHC and the number of issued and tradable shares of LSEA shares, immediately following the completion of the share repurchase and cancellation of the repurchase shares, LHC's shareholding in Landsea Homes will be reduced from about 61.9% to about 57.8%.