Hartalega Holdings Berhad (KLSE:HARTA) commences share repurchases on October 2, 2023, under the program mandated by the shareholders in the Annual General Meeting held on September 5, 2023. As per the mandate, the company is authorized to repurchase its own shares, such that the company?s holding in treasury does not exceed 10% of its issued share capital. The shares will be purchased at a price which is not more that 15% above the weighted average market price of the company?s shares for the five market days immediately prior to the date of the purchase.

The maximum funds to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of retained profits of the company and the company may use internally generated funds and/or bank borrowings to finance the repurchases. The shares repurchased will be cancelled, retained as treasury shares, or retain the part of shares as treasury and cancel the remaining. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting.