CGN New Energy (01811) has announced its intention to exercise the authority under its share repurchase mandate, signaling a strategic move to potentially enhance shareholder value. The company will consider market conditions and the terms of the buyback authorization to execute purchases on the open market from time to time over the next 12 months, starting from the date of this announcement.

Under the share repurchase plan, the board has resolved to allocate a maximum of approximately HK$121 million, inclusive of transaction costs, to buy back up to roughly 42.899 million shares. This quantity represents about 1% of the company's total issued share capital, demonstrating a measured approach to capital management.

In compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the actual purchase price for each buyback must not exceed the average closing price of the five trading days immediately preceding each repurchase by 5% or more. This regulatory constraint ensures the buyback is conducted fairly and transparently.

The company will fund the share repurchase plan using its existing available cash reserves, ensuring that the initiative does not rely on external financing or impact its operational liquidity.