Bonvests Holdings Limited (SGX:B28) commences share repurchases on August 10, 2017 under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2017. As per the mandate, the company is authorized to repurchase up to 40,206,916 shares, representing 10% of the issued ordinary share capital. In case of on-market repurchases, the maximum price that will be paid by the company for repurchases will be 5% above the average of the closing market prices of the shares over the last five market days on the SGX-ST on which transactions in the shares were recorded. While in case of off-market repurchases, the maximum price that will be paid by the company for repurchases will be 20% above the average of the closing market prices of the share over the last 5 market days on the SGX-ST on which transactions in the shares were recorded, immediately preceding the day on which the company announces its intention to make an offer for the purchase of shares from shareholders. The share repurchase program shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required to be held, the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked.