Chin Well Holdings Berhad (KLSE:CHINWEL) commences share repurchases on December 6, 2023, under the program mandated by the shareholders in the Annual General Meeting held on November 29, 2023. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company?s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital. The maximum funds to be allocated by the company for the purchase of shares on open market shall not exceed the retained profits of the company and the repurchases will be financed by internally generated funds.

The shares repurchased may be cancelled or the company may retain the shares repurchased as treasury shares or may retain part of shares purchased as treasury shares and cancel the remaining. 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.