Berjaya Sports Toto Berhad (KLSE:BJTOTO) commences share repurchases on March 16, 2020, under the program mandated by the shareholders in the Annual General Meeting held on December 6, 2019. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital such that its holdings in treasury does not exceed 10% of the issued share capital. The shares will be repurchased at a price which shall not be more than 15% above the weighted average market price of the shares for the 5 market days immediately before the purchase. The shares repurchased may be cancelled or retained as treasury shares for future re-sale or for distribution as dividends to the shareholders of the company or the company may retain part thereof as treasury shares and subsequently cancelling the balance. The repurchase program will be financed through internally generated funds and/or borrowings and 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. The share repurchase program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company.