National Electronics Holdings Limited (NATIONAL ELEC H) has detailed a series of on-market share repurchases conducted between 2 January and 27 April 2026 while confirming that its total issued share capital remains unchanged at 914.22 million ordinary shares as at 27 April 2026.

Key takeaways

1. Scale of repurchases • From 2 January to 27 April 2026, the company bought back 1.59 million shares intended for cancellation but not yet cancelled. • The cumulative volume represents roughly 0.17% of the current issued share base (914.22 million shares).

2. Pricing • Repurchase prices ranged from HKD 0.35 to HKD 0.395 per share. • The estimated volume-weighted average repurchase cost over the period is about HKD 0.38 per share, implying an aggregate cash outlay of approximately HKD 0.61 million.

3. Latest transaction • On 27 April 2026, 2,000 shares were repurchased on the Hong Kong Stock Exchange at HKD 0.39 per share, for a total consideration of HKD 0.78 thousand.

4. Mandate utilisation • Shareholders approved a mandate on 26 August 2025 allowing repurchases of up to 91.50 million shares. • Since the mandate’s adoption, the company has bought back 2.36 million shares, utilising about 0.26% of the authorised limit.

5. Capital structure • Despite the ongoing buyback activity, no shares have yet been cancelled; therefore, the number of issued shares (excluding treasury shares) remains at 914.22 million. • The company holds no treasury shares, and all repurchased shares are slated for cancellation upon settlement.

6. Moratorium on new issues Following the most recent buyback, National Electronics is restricted from issuing new shares or selling treasury shares until 27 May 2026 under Hong Kong Listing Rule 10.06(3)(a).

The continued repurchases suggest management’s commitment to returning capital to shareholders while maintaining a stable share count until the cancellation of the acquired shares is completed.