Share buy back for Kingston Properties

Kingston Properties advises that the Board of Directors authorized a buy-back of up to one percent (1%) of the company’s shares in issue for up to one year following the expiry of 21 days from the date of notice to the Stock Exchange. The repurchase of the shares will be conducted on an open market through the Company’s Stockbrokers. The Company’s cash flows will be the source of funds for the purchase of shares. Kingston Properties will advise its shareholders of the details of the purchase within 30 days of the repurchase of the shares. The total number of shares issued amounts to 68,800,102 units. One percent of the issued shares amounts 688,000 units. The stock last traded at $4 after it had fallen to $3.50 a few trading days before but the net asset value of the shares is around $12.