Overview
- The board resolved on June 12 to conduct on‑market repurchases of up to HKD100 million using the group’s own funds and explicitly excluding proceeds from its recent global offering.
- Shareholders approved the underlying Share Repurchase Mandate at the company’s June 11 annual general meeting and the repurchase period runs until the next AGM.
- Any purchases must follow The Stock Exchange of Hong Kong rules, the Takeovers and Mergers Code and Cayman Islands company law.
- The company cautioned that timing, quantity and price of any repurchases are at the board’s absolute discretion and that there is no assurance repurchases will be made.
- Shares rebounded after the announcement, rising about 10% to roughly HK$3.05 from recent near 52‑week lows, and investors will watch whether the board uses the mandate to support the stock and signal confidence in HashKey’s Web3 growth prospects.