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Share Name Share Symbol Market Type Share ISIN Share Description
Hong Kong Land Holdings Ld LSE:HKLJ London Ordinary Share BMG4587L1090 ORD US$0.10(JERSEY REG)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 7.41 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0

Hongkong Land Hldgs Ltd Proposed Share Buyback Programme

06/09/2021 10:18am

UK Regulatory (RNS & others)


Hong Kong Land Holdings Ld (LSE:HKLJ)
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TIDMHKLD

RNS Number : 8367K

Hongkong Land Hldgs Ltd

06 September 2021

HONGKONG LAND HOLDINGS LIMITED

PROPOSED SHARE BUYBACK PROGRAMME

Hongkong Land Holdings Limited (the 'Company') today announces its intention to invest up to US$500 million in a share buyback programme (the 'Programme') extending until 31st December 2022. The company's ordinary shares will be repurchased by the Company, in accordance with powers under the Bermuda Companies Act and the constitution of the Company. In accordance with the Company's current practice, details of any repurchases made by the Company will be provided to the market via regulatory announcements and published on the Company's website. The purpose of the Programme is to reduce the capital of the Company. As the holding of treasury shares is not provided for in the Company's constitution, any shares which are repurchased by the Company will be cancelled.

The buyback is in line with Hongkong Land's long-standing capital allocation practice which is to prioritise:

1. investment in new assets to drive long-term growth and shareholder value;

2. continued payment of steady and, over time, increasing dividends; and

3. investment in existing assets on an opportunistic basis, including through share buybacks.

The Group has and remains committed to retaining a strong balance sheet which provides financial resilience through the cycle.

Jonathan Lloyd, Jardine Matheson Limited

For and on behalf of Hongkong Land Holdings Limited

6th September 2021

www.hkland.com

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END

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(END) Dow Jones Newswires

September 06, 2021 05:18 ET (09:18 GMT)

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