Advancecon Holdings Berhad (KLSE:ADVCON) commences share repurchases on March 10, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 20, 2019. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital. The repurchased shares will be cancelled, or retained in treasury, or partially cancelled and retained in treasury, or distributed as dividend to the shareholders or resold on Bursa Securities. The maximum fund to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits and share premium account of the company and will be financed by internally generated funds or bank borrowings. 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 carried out to the full extent, unless varied or revoked in a General Meeting.