China Resources Gas Group's (HKG:1193) trustee has repurchased 45,797,384 shares in the trust, representing 1.98% of the company's total issued share capital.
The trustee will be selling the shares following the terms of the restricted share award scheme of the company dated Dec. 3, 2008, at its discretion, a Wednesday filing with the Hong Kong Exchange said.
The company had resolved to repurchase no less than 45,797,384 of its shares on the open market through the trustee under the share repurchase mandate approved by the company on May 24.
The city gas distribution company will be paid with the funds in the trust after the 2008 share award scheme terminates.
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