ComfortDelGro Corporation Limited (SGX:C52) commences share repurchases on May 23, 2023, under the program mandated by the shareholders at the Annual General Meeting held on April 28, 2023. As per the mandate, the company is authorized to repurchase up to 216,610,746 shares, representing 10% of its issued shares. The maximum price in the case of market purchase will be 105% of the average closing price over the last five market days on which transactions in the shares were recorded, before the day on which the purchase or acquisition of shares was made.

While in the case of off-market purchase, the maximum price will be 110% of the average closing price over the last five market days. The company will fund the repurchases from internal sources of funds or borrowings or a combination of both. The shares repurchased will be cancelled, held in 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.