Pacific Basin Shipping repurchases 27.6m shares

Pacific Basin Shipping Limited announced today the repurchase of 27,627,000 of its own shares on the HKEX. The shares were bought back at prices ranging from HKD1.52 to HKD1.65 per share, with the total cost amounting to HKD44,454,080. These repurchased shares will be cancelled. This buyback represents approximately 0.5% of the company's existing issued shares. The company has been actively repurchasing shares, totaling 201,769,000 shares to date, which is 3.8331% of the shares in issue as at the date of the repurchase mandate on April 19, 2024. The company confirmed that the repurchases were conducted in compliance with exchange rules and that there have been no material changes to the information stated in the March 14, 2024 explanatory statement.