Berjaya Land Berhad (KLSE:BJLAND) commences share repurchases on January 31, 2024, under the program mandated by the shareholders in the Annual General Meeting held on December 12, 2023. As per the mandate, the company is authorized to repurchase its up to 420,196,606 shares, representing 8.54% of its share capital. The shares must be repurchased such that its holding in treasury does not exceed 10% of its issued share capital.

The shares will be repurchased at price which is not more than 15% above the weighted average market price of company's shares for the 5 market days immediately before the purchase. The program will be funded through internally generated funds and/or borrowings and the total consideration shall not exceed the aggregate of the retained profits of the company. The shares repurchased may be cancelled or retained as treasury shares.

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. As of October 2, 2023, the company had 4,920,500,000 outstanding shares and 79,837,104 treasury shares.