HKLJ Hong Kong Land Holdings Ld

TIDMHKLD

RNS Number : 8367K

Hongkong Land Hldgs Ltd

06 September 2021

HONGKONG LAND HOLDINGS LIMITED

PROPOSED SHARE BUYBACK PROGRAMME

Hongkong Land Holdings Limited (the 'Company') today announces its intention to invest up to US$500 million in a share buyback programme (the 'Programme') extending until 31st December 2022. The company's ordinary shares will be repurchased by the Company, in accordance with powers under the Bermuda Companies Act and the constitution of the Company. In accordance with the Company's current practice, details of any repurchases made by the Company will be provided to the market via regulatory announcements and published on the Company's website. The purpose of the Programme is to reduce the capital of the Company. As the holding of treasury shares is not provided for in the Company's constitution, any shares which are repurchased by the Company will be cancelled.

The buyback is in line with Hongkong Land's long-standing capital allocation practice which is to prioritise:

1. investment in new assets to drive long-term growth and shareholder value;

2. continued payment of steady and, over time, increasing dividends; and

3. investment in existing assets on an opportunistic basis, including through share buybacks.

The Group has and remains committed to retaining a strong balance sheet which provides financial resilience through the cycle.

Jonathan Lloyd, Jardine Matheson Limited

For and on behalf of Hongkong Land Holdings Limited

6th September 2021

www.hkland.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

POSUNAKRANUKRRR

(END) Dow Jones Newswires

September 06, 2021 05:18 ET (09:18 GMT)

Hong Kong Land Holdings Ld (LSE:HKLJ)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024

Hong Kong Land Holdings Ld (LSE:HKLJ)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024