China Communications Services (00552): General Authorization Proposed to Repurchase H Shares Approved

Zhitong Finance App News, China Communications Service (00552) issued an announcement. Based on the company's confidence in future development and recognition of corporate value, the company's board of directors resolved to request the company's special shareholders' meeting, domestic share class shareholders' meeting, and H share class shareholders' meeting to approve the general authorization to repurchase the company's H shares. The board of directors decides that, if it deems appropriate, no more than 10% of the H shares (excluding inventory shares) issued on the day the relevant resolution is passed.

As of the date of publication of this announcement, the total number of shares issued by the Company was 6.926 billion shares, including 2,391 billion H shares. If fully repurchased, the company will have the right to repurchase no more than 239 million H shares. The board of directors believes that the relevant repurchases will only be carried out if they are beneficial to the company and its overall shareholders.