Digilife Technologies Limited commences an Equity Buyback Plan for 1,349,331 shares, representing 10% of its issued share capital, under the authorization approved on April 28, 2023.

Digilife Technologies Limited (Catalist:BAI) commences share repurchases on May 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2023. As per the mandate, the company is authorized to repurchase up to 1,340,491 shares, representing 10% of its issued share capital. The shares will be repurchased at a maximum purchase price of 105% of the average closing price in case of market purchase and 120% of the average closing price in case of off-market purchase.

The shares repurchased will be cancelled immediately on purchase or acquisition unless held by the company treasury shares. The program will be funded out of internal sources of funds or external borrowings or a combination of both and the funds. 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.