Share Repurchase (9501S)

TIDMACHL

RNS Number : 9501S

Asian Citrus Holdings Ltd

29 November 2011

 
 For immediate release   29 November 2011

Asian Citrus Holdings Limited

("Asian Citrus" or "the Group")

SHARE REPURCHASE

This announcement is a disclosure made by Asian Citrus Holdings Limited (the "Company") to provide its shareholders and potential investors with update information in relation to the development of the Company.

Pursuant to the repurchase mandate granted to the Board at the annual general meeting of the Company held on 8 November 2011 (the "Repurchase Mandate"), the Company repurchased 500,000 of its own shares on The Stock Exchange of Hong Kong Limited on 29 November 2011, at the highest and lowest price of HK$5.00 (GBP0.4149) and HK$4.89 (GBP0.4057), respectively (the "Share Repurchase") for cancellation. The aggregate consideration for the Share Repurchase is HK$2,471,490 (GBP205,060) and was funded from internal resources of the Company.

The shares repurchased by the Company represent approximately 0.04% of the existing issued share capital of the Company. Up to the date of this announcement, the Company has repurchased a total number of 1,500,000 of its own shares. Upon the cancellation of the repurchased shares, the Company will have ordinary shares of 1,218,595,963 in issue. The Company may make further repurchases according to the market conditions, but in any case, the aggregate number of shares already repurchased and shares which may be repurchased will not exceed 121,315,696 shares according to the Repurchase Mandate.

Shareholders and investors should note that any repurchase of shares made under the Repurchase Mandate will be subject to market conditions and the applicable rules under the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and AIM Rules and will be at the Company's management's absolute discretion. There is no assurance of the timing, quantity or price of any share repurchases or whether the Company will make any further repurchases at all. Shareholders and investors should therefore exercise caution when dealing in the shares of the Company.

For further enquiries please contact

 
 
  Asian Citrus 
 Eric Sung, Finance Director                  +852 2559 0323 
 
 Seymour Pierce Limited 
 Nandita Sahgal, Jonathan Wright (NOMAD)      020 7101 8000 
 Leti McManus, Richard Redmayne, (Broking) 
 Weber Shandwick Financial                    020 7067 0700 
 Nick Oborne, Stephanie Badjonat, 
  John Moriarty

This information is provided by RNS

The company news service from the London Stock Exchange

END

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