SBP GROUP (HKEX: 01177) has announced a new initiative. The company's board has approved a share acquisition program, with a total consideration not exceeding HK$2 billion to be deployed over the next year. The program's execution will be contingent on prevailing market conditions.

The funds will be utilized in two ways. A portion will be allocated to repurchasing shares from the open market under the authority granted by shareholders at the Annual General Meeting. The remaining portion will be used to instruct the trustee managing the company's restricted share award plan, adopted on January 5, 2018, to purchase shares.

Key Program Details

The board retains the discretion to review and decide on the allocation of the purchase quota between these two methods from time to time. This program follows earlier share purchases made by the company since the beginning of 2026. To date, the company has cumulatively acquired 60.35 million shares, including both repurchases and trustee purchases under the incentive plan, at a total cost of approximately HK$338 million.

Rationale and Financial Capacity

The board believes implementing this share purchase plan aligns with the best interests of the company and its shareholders. It views the current conditions as opportune for such purchases, which serve to demonstrate confidence in the company's business outlook and future prospects. The board expects the plan to ultimately benefit the company and create value for shareholders. It has also expressed confidence that the company possesses sufficient financial resources to execute the plan while maintaining a robust financial position.