PT Bank Amar Indonesia Tbk (IDX:AMAR) commences share repurchases on September 13, 2023, under the program mandated by shareholders in the Annual General Meeting held on June 20, 2023. As per the mandate, the company is authorized to repurchase its own shares. If the repurchase is done through stock exchange, the price to paid for repurchase must be lower or equal to the price of the previous transaction.

If the repurchase is carried out outside the stock exchange the price to be paid for repurchase is at a maximum of the average price of the closing price of daily trading on the stock exchange for 90 the last day before the date of share buyback. The purpose of the program is to provide variable remuneration to the Company's management and employees through a share ownership program. The authorization will be valid for 18 months.