Unisound (HK: 09678) has announced a board-approved plan to repurchase up to HK$100 million worth of its H-shares on the open market over the next six months, subject to the existing buyback mandate.

The company stated that the repurchased H-shares will either be cancelled, with a corresponding reduction in registered capital, or held as treasury stock, depending on market conditions at the time of purchase. The buyback will be funded using the company's own cash reserves and legally permissible self-raised funds, in accordance with its articles of association and applicable Chinese laws and regulations.

The board believes that this proposed share repurchase demonstrates strong confidence in the company's business outlook and future prospects, and will ultimately benefit the company and create value for shareholders. It also noted that Unisound has sufficient financial resources to execute the buyback while maintaining a solid financial position.