McFTSE (02556) plans to buy back the company's shares on the open market

Zhitong Finance App News, Maifushi (02556) announced that the board of directors intends to buy back the company's shares on the open market from the date of this announcement until the expiration of the share repurchase authorization period. The company will fund the share repurchase plan from existing available cash reserves. According to the ordinary resolution passed by the company's shareholders at the annual general meeting of shareholders held on May 19, 2025, directors have been granted general and unconditional authorization to repurchase shares, not exceeding 10% of the total number of shares issued by the company (excluding treasury shares) on May 19, 2025 (that is, no more than 25.62699 million shares issued by the company).

The company's management team is confident about the Group's future. The share repurchase plan reflects the board of directors and management team's confidence in the company's long-term business prospects and growth. The Board believes that the share repurchase plan is in the overall best interest of the company and its shareholders.