PERSISTENCEGOLD (02489) has announced its intention to utilize the general mandate granted to its board of directors for share repurchases.

This mandate was approved by an ordinary resolution at the company's annual general meeting held on June 26, 2026.

The authorization permits the buyback of up to 240 million shares, which represents 10% of the total issued shares as of the AGM date, excluding any treasury shares.

This authority will expire upon the conclusion of the company's next annual general meeting.

The board has resolved to exercise this share repurchase authority to buy back shares on the open market from time to time, depending on market conditions.

The company plans to allocate a maximum of HK$20 million for this proposed share repurchase initiative.

The buyback program will remain effective until either the HK$20 million cap is reached or the share repurchase authorization expires, whichever occurs first.

PERSISTENCEGOLD intends to fund this proposed share repurchase plan using its own available cash resources.

The funding will not come from the proceeds generated from the listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited.

The company has stated that the proposed share buyback plan will not be implemented in a manner that could materially and adversely affect its daily operations or its future capital expenditure plans.