AMMB Holdings Berhad (KLSE:AMBANK) commences share repurchases on September 17, 2021 under the program mandated by the shareholders in the Annual General Meeting held on September 2, 2021. As per the mandate, the company is authorized to repurchase its own shares such that it’s holding of own shares at any time does not exceed 3% of its total issued and paid-up share capital. The purchased shares will be held in treasury or cancelled or retained a part of it in treasury and the remaining shares will be cancelled. 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. The repurchases will be financed out of the internally generated funds. 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.