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Hamilton, Bermuda – 7^th, September 2021 –In a filing with the Bermuda Stock Exchange Hongkong Land Holdings Limited, announces its proposed share buyback programme. The full filing stated:

HONGKONG LAND HOLDINGS LIMITED

 

PROPOSED SHARE BUYBACK PROGRAMME

 

Hongkong Land Holdings Limited (the 'Company') today announces its intention to invest up to US$500 million in a share buyback programme (the 'Programme') extending until 31st December 2022. The company's ordinary shares will be repurchased by the Company, in accordance with powers under the Bermuda Companies Act and the constitution of the Company. In accordance with the Company's current practice, details of any repurchases made by the Company will be provided to the market via regulatory announcements and published on the Company's website. The purpose of the Programme is to reduce the capital of the Company. As the holding of treasury shares is not provided for in the Company's constitution, any shares which are repurchased by the Company will be cancelled.

 

The buyback is in line with Hongkong Land's long-standing capital allocation practice which is to prioritise:

 

1.    investment in new assets to drive long-term growth and shareholder value;

 

2.    continued payment of steady and, over time, increasing dividends; and

 

3.    investment in existing assets on an opportunistic basis, including through share buybacks.

 

The Group has and remains committed to retaining a strong balance sheet which provides financial resilience through the cycle.

 

 

Jonathan Lloyd, Jardine Matheson Limited

 

For and on behalf of Hongkong Land Holdings Limited

 

6th September 2021

 

www.hkland.com

 

 

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX.

 

Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.

 

The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia’s Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK’s Financial Services Authority; Recognised Stock Exchange by the UK HM Revenue and Customs; Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.