IOI Corporation Berhad (KLSE:IOICORP) commences share repurchases on October 26, 2021, under the program mandated by the shareholders in the Annual General Meeting held on October 26, 2021. As per the mandate, the company is authorized to repurchase its own shares, such that the company?s holding in treasury does not exceed 10% of its issued share capital. 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. The shares will be repurchased at a price that is not more than 15% above the weighted average market price of the company's shares for the 5 market days immediately before the date of any purchase. The repurchases will be financed out of the internally generated funds. The repurchased shares will be cancelled or retained as treasury shares or retain part of the shares so purchased as treasury shares and cancel the remainder of the 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 varied or revoked in a General Meeting.