Brii Biosciences Announces Share Repurchase Program of Up to HK$60 Million

Zhitong Finance APP News: Brii Biosciences-B (02137) announced that the directors intend to exercise their power under the general mandate granted by shareholders via a resolution passed on June 16, 2026, to repurchase company shares not exceeding 10% of the total number of issued shares (excluding treasury shares) as of June 16, 2026. With respect to shares repurchased by the company under the repurchase mandate, the company may cancel such shares and/or hold them as treasury shares, depending on, among other factors, market conditions at the time of the relevant repurchase and the company’s capital management needs. In view of the fact that the company’s share price is currently at a level that undervalues its performance, asset value, and business prospects, the Board of Directors resolved on June 17, 2026, to utilize the repurchase mandate to actively implement an on-market share repurchase program from time to time in response to market conditions. Under this share repurchase program, the total amount of funds used for share repurchases shall not exceed HK$60 million. The term of the share repurchase program shall run from the date of this announcement until the date of the company’s next annual general meeting to be held in 2027.

The Board believes that the share repurchase plan further demonstrates the Company’s confidence in the prospects and outlook of its businesses, which will ultimately benefit the Company and create value for shareholders. The Board is of the view that, with its existing financial resources, the Company can implement the share repurchases under the plan while maintaining a sound financial position.