The board of CAFE DE CORAL H (00341) has announced its intention to implement a share repurchase program.

The company plans to buy back its own shares on the open market, with a maximum total consideration of HK$50 million, subject to market conditions.

According to the board, the current trading price of the company's shares does not fully reflect its intrinsic value and the group's business prospects.

The share buyback initiative demonstrates the board's confidence in the group's long-term business and growth outlook.

Furthermore, the company believes that executing the repurchase plan will proactively optimise its capital structure, thereby enhancing earnings per share and net asset value per share.

This move is ultimately expected to benefit the company and create greater value for shareholders.

The share repurchase program will be funded from the company's internal resources.

The company has stated that it will not proceed with any share buybacks that could adversely affect the working capital required for the group's operations.