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Hua Han Health Industry Holdings announces share repurchase<0587.HK>

Thursday, 18 Aug 2016 08:32am EDT 

Hua Han Health Industry Holdings Ltd <0587.HK>: Health-voluntary announcement share repurchase <0587.HK> . Repurchased on market a total of 137,000,000 shares, representing approximately 1.85% of the issued share capital of the company . Says the aggregate consideration for the repurchase of shares is approximately hk$78.4 million . It has exercised its power under the general mandate to repurchase shares of the company granted by the shareholders . Highest purchase price per share was hk$0.62, the lowest purchase price per share was hk$0.53 and the average purchase price was approximately hk$0.5719 . Believes that the shares have been trading at a level which undervalues the company's performance and underlying value" . Believes it will be able to maintain strong financial position while continuing to grow its operations . Says pursuant to the repurchase mandate, the company is allowed to repurchase up to 739.3 million shares .