FORWARD TOGETHER Directors’ Report 110 PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES Shares Repurchase During the financial year ended 31 December 2022, the Company had repurchased, under the Repurchase Mandate, a total of 69,739,200 shares of the Company (the “Shares”) on market ranging from HK$13.08 to HK$23 per share, representing approximately 1.58% of the issued Shares as at 31 December 2022 for a consideration of approximately US$169.3 million (approximately HK$1,324.3 million, excluding transaction cost). At the date of this annual report, the repurchased Shares have been cancelled. Details of Shares repurchased are as follows: Purchase price per share Month Number of shares repurchased Highest HK$ Lowest HK$ Aggregate consideration HK$ million May 2022 5,836,000 23.00 22.15 131.9 June 2022 11,248,600 23.00 19.80 240.6 July 2022 10,799,200 21.80 19.00 217.2 August 2022 735,000 21.25 20.20 15.1 September 2022 8,758,400 22.15 19.62 181.9 October 2022 16,920,000 20.75 13.08 287.9 November 2022 6,152,000 17.50 13.36 95.0 December 2022 9,290,000 17.90 15.84 154.7 69,739,200 1,324.3 The share repurchase reflects the Company’s confidence in its financial position, business fundamentals and prospects, and would, ultimately, benefit the Company and create value to the Shareholders. The share repurchase was financed by the Company with its existing available cash. The Board believes that the current financial resources of the Company would enable it to implement the share repurchase while maintaining a solid and healthy financial position for the continued growth of the Group’s operations. Redemption And Cancellation Pursuant To The US$2,000,000,000 Multicurrency Debt Issuance Programme Reference is made to the S$350,000,000 in aggregate principal amount of 6.75 per cent. fixed rate notes due 2022 (ISIN Code: SGXF43834302) (the “S$350m Notes”) and the US$425,000,000 in aggregate principal amount of 7.875 per cent. fixed rate notes due 2022 (ISIN Code: XS1970560451) (“US$425m Notes”) issued by the Company, pursuant to its US$2,000,000,000 Multicurrency Debt Issuance Programme, scheduled to mature on 1 February 2022 and 4 April 2022 respectively. As 1 February 2022 was not a business day (as defined in the terms and conditions of the S$350m Notes), the Company has made payment on 3 February 2022 and 4 April 2022 for the redemption in full of all the outstanding S$350m Notes and US$425m respectively at 100.0 per cent. of its principal amount respectively. Following the full redemption of all the outstanding S$350m Notes and US$425m Notes, the S$350m Notes and US$425m Notes were cancelled in accordance with the terms and conditions of the S$350m Notes and US$425m Notes and, following such cancellation, there were no outstanding S$350m Notes on 3 February 2022 and US$425m Notes on 4 April 2022 respectively. Please refer to the details in the Company’s announcements dated 3 February 2022 and 4 April 2022. Shares Purchased By Trustee Under The Long Term Incentive Scheme During the financial year ended 31 December 2022, the Trustee of the Long Term Incentive Scheme of the Company adopted on 2 June 2021 (the “LTIS”), pursuant to the rules and trust deed of the LTIS, purchased on the Stock Exchange a total of 387,700 Shares of the Company at a total consideration of approximately US$1.15 million (approximately HK$9.02 million).
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