Hysan allowed to buy back more than 25% of shares

Hysan Development (0014) said that Stock Exchange of Hong Kong had granted it a waiver from the restriction to repurchase more than 25 percent of its listed shares in any one calendar month. The waiver, which will be expired on March 27, 2002, requires that Hysan's expected market capitalization inpublic hands throughout the waiver period must be at least HKD100 million. In addition, Hysan can only repurchase, within one financial year, up to 10 percent of its issued share capital from time to time. The company must also maintain a public float of not less than 25 percent.

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