Jiumaojiu (09922) announced that it passed a resolution at the annual general meeting of shareholders held on June 6, 2024, to grant general authority (repurchase authorization) to the board of directors, with the power to repurchase the company's shares (proposed share repurchase) from time to time on the open market for a maximum total amount of HK$200 million. The company is expected to cancel the repurchased shares and provide funds for the proposed share repurchase with its existing available cash reserves.

According to the repurchase authorization, the board of directors may repurchase up to 10% of the issued shares (excluding treasury shares) on the day of the ordinary resolution approved by the general meeting of shareholders held on June 6, 2024, at the Hong Kong Stock Exchange (HKEX). The authorization will expire at the earliest of: the end of the company's next annual general meeting of shareholders; the revocation or amendment of the authorization granted under the ordinary resolution passed by the shareholders at the shareholders' meeting; the expiration of the company's organizational regulations or any applicable legal provisions at the end of the term of the next annual general meeting of shareholders.