Lingbao Gold (HKEX: 03330) has announced that its board of directors has been notified by the company's non-executive director and controlling shareholder, Mr. Wang Guanran, of his intention to acquire additional shares.

Mr. Wang plans to purchase up to 16 million H-shares of the company on the open market using his own funds within approximately the next 12 months, starting from the date of the announcement. This decision is based on his recognition of the company's value and his confidence in its future overall business development and growth potential.

He may increase his shareholding from time to time, subject to market conditions and applicable regulatory requirements. As of the announcement date, Mr. Wang indirectly holds approximately 489 million H-shares, representing about 35.50% of the company's total issued share capital, excluding any treasury shares and repurchased but not yet cancelled H-shares.

Based on information available to the company and to the best of the directors' knowledge and belief, the company will maintain sufficient public float of its issued shares even if the share acquisition plan is fully implemented.

The board of directors believes that this acquisition plan reflects Mr. Wang's long-term commitment to the company and his firm confidence in its value and long-term development prospects.