Path to Health (02587) proposes to buy back shares in the market

Zhitong Finance App News, Path to Health (02587) issued an announcement. According to current market conditions, the Company plans to exercise a repurchase authorization to repurchase the Company's issued shares on the open market within the next five months, at a total cost of no more than HK$100 million (recommended repurchase). The proposed repurchase will be carried out in accordance with the Company's Articles of Association, the Hong Kong Stock Exchange Limited securities listing rules, corporate acquisitions, mergers and share repurchase rules, the Cayman Islands Company Law and all other applicable laws and regulations. Any shares repurchased will be held as treasury shares, and the Company may cancel, dispose of, or use as a share award or any other permitted purpose as appropriate in accordance with market conditions and the Group's capital requirements.

The Board believes that the proposed buyback reflects the company's confidence in its business prospects and will enhance shareholder value. Proposed repurchases will only be made when the Board of Directors deems it appropriate and in the overall interests of the Company and its shareholders. Furthermore, the Board believes that the Company has sufficient financial resources to implement the proposed buyback and that it will not damage its financial position. Furthermore, the proposed repurchase will not be carried out in a way that causes the public shareholding of the shares to fall below the minimum percentage required by the listing rules, nor will it cause the Company's shareholders to make mandatory comprehensive offers in accordance with the Company's Takeovers and Mergers Code.