At the Twentieth Annual General Meeting (“AGM”) of SBC held on 20 September 2010, the Board of Directors of SBC (“Board”) obtained a mandate from shareholders to undertake a share buy-back of up to 10% of the issued and paid up share capital of SBC (“Share Buy-Back”). The authority obtained by the Board for the Share Buy-Back shall lapse at the conclusion of the forthcoming Twenty-first AGM unless a renewal of the mandate for the Share Buy-Back is obtained from the shareholders of SBC.
The Board wishes to announce that the Company proposes to undertake a renewal of the authority for the Company to undertake a share buy-back of up to 10% of its issued and paid-up share capital ("Proposed Share Buy-Back Renewal") at the forthcoming Twenty-first AGM of the Company.
Details of the Proposed Share Buy-Back Renewal will be set out in the Statement to the shareholders of the Company, which will be sent together with the Notice of Twenty-first AGM.
This announcement is dated 9 August 2011.
