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The Stock Exchange of Hong Kong Limited (Stock Exchange) recently amended the Rules Governing the Listing of Securities on the Stock Exchange (Listing Rules) to adopt a new framework for treasury shares. The amended Listing Rules remove the requirement for listed companies to cancel repurchased shares and listed companies will be allowed to hold the repurchased shares in treasury for future resale if permitted under the laws of their places of incorporation and their constitutional documents. The new rules came into effect on 11 June 2024 (Effective Date).