AV Concept agrees to buy back shares from B2B International

AV Concept Holdings (0595) said shareholders had passed a resolution to buy back 3.92 mln shares in the company from B2B International Ltd., which originally held 4.438 mln shares or 1.9% of the issued share capital of AV Concept.The repurchase involves no cash consideration. AV Concept will transfer 17,200 shares of Reigncom Ltd., representing 8.04% of its issued share capital, to B2B as consideration.Upon the repurchase, the number of issued AV Concept shares will fall to 230 mln from original 234 mln shares.At the closing, AV Concepts shares were flat at 47 HK cents. Turnover was HK$170,620, six-fold more than yesterday's.

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