Natural Food International Holding Ltd (01837) has announced that its board of directors has resolved to approve and implement a share repurchase program on the open market for its ordinary shares.
The buyback is being conducted under the general mandate approved and granted to the directors at the company's annual general meeting held on May 22, 2026, which permits the directors to repurchase up to 10% of the issued ordinary shares (excluding treasury shares) as of the date the resolution was passed.
Under the share repurchase plan, the company intends to buy back a total of no more than 36 million shares during the period from October 20, 2026 to January 31, 2027 (inclusive of both dates), having taken into account, among other things, any impact on the company's working capital and gearing level as well as prevailing market conditions, subject to compliance with applicable laws and regulations, the Listing Rules of The Stock Exchange of Hong Kong Limited, the Hong Kong Code on Takeovers and Mergers, the Code on Share Buy-backs, and the relevant provisions of the repurchase mandate.
The shares repurchased under the share buyback will be cancelled.
The board believes that the current market price of the shares does not adequately reflect the company's underlying value and future prospects.
The company is confident in the group's business outlook and believes that the share repurchase may, depending on prevailing market conditions, enhance the net asset value per share and/or earnings per share.