Metallurgical Corporation of China Ltd. (MCC, 01618) issued a voluntary announcement stating that it will ask shareholders at an upcoming general meeting for a fresh mandate to repurchase its H shares.

The proposed mandate allows the Board to buy back, with internal funds, up to 10% of the H shares outstanding on the meeting date, subject to a spending cap of RMB 500.00 million. All repurchased shares will be cancelled, leading to a corresponding reduction in registered share capital.

The “Relevant Period” for executing the mandate extends from the date of shareholder approval to the earlier of (i) the close of MCC’s 2026 annual general meeting scheduled for 2027 or (ii) any revocation or variation of the mandate by shareholders.

If approved, the Board—or the Chairman acting under Board authorisation—may determine the timing, price and volume of repurchases, complete regulatory filings, amend the Articles of Association to reflect cancelled shares, and decide to continue or terminate the programme in response to market conditions. The company affirmed that the buyback, if executed, will not trigger a mandatory offer requirement for controlling shareholder China Minmetals Corporation or its concert parties under Hong Kong’s Takeovers Code.

MCC noted that the new mandate is intended to protect shareholder interests, bolster investor confidence and support share price stability. A detailed circular and notice of the general meeting will be dispatched to shareholders. The company cautioned that actual repurchase activity remains subject to prevailing market conditions and offers no assurance on timing, volume or price.