On October 21, Reiss Lighting announced that its board of directors had announced its intention to exercise the general authority granted to directors at the annual meeting of shareholders held on June 4, 2018 to repurchase shares of the company at the Stock Exchange of Hong Kong Limited, no more than the total number of shares issued on the date of the annual meeting of shareholders. The number is 10% (that is, up to 358180500 shares).——LED lighting
The Board believes the current trading price of the shares is undervalued, taking into account the company's performance and its long-term business prospects, Rex said. It is suggested that share repurchase will benefit the company and create value for shareholders. The board also believes that the firm's strong financial position will ensure that it implements the proposed share repurchase and maintains adequate financial resources for sustained growth in the company's operations. It is suggested that share repurchase should be in line with the overall interests of the company and shareholders.——LED lighting
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