"Aqua Corporation Public Company Limited (SET:AQUA) announces a share repurchase program. Under the program, the company will repurchase up to 200,000,000 shares, representing 3.38% of the total paid-up share capital, for a total of THB 120 million. The share repurchase price will not exceed the average closing price during five business days prior to the share repurchase date plus 15 percent of such average closing price.

Repurchases will be made on the Stock Exchange of Thailand. The shares will be repurchased for the company's capital management purposes and the repurchase program will enable the company to manage and maximize the benefits of the company's excess liquidity, and will increase the return on equity and earnings per share. The repurchase program will also provide higher dividend per share for any future dividend to the shareholders and demonstrates company's confidence in the ability to generate revenues and profit in the future and also its confidence with investors or shareholders of the company.

The share repurchase program is valid for 6 months, until November 30, 2022. As of March 14, the company has 5,912,456,522 shares in the paid-up capital.