JcbNext Berhad (KLSE:JCBNEXT) commences share repurchases on June 16, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 16, 2021. As per the mandate, the company is authorized to repurchase its own shares such that its holding of own shares at any time does not exceed 10% of its total issued and paid-up 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 repurchases will be financed out of the internally generated funds coupled with minimum bank borrowings. The repurchased shares will be cancelled or held in treasury or partially held in treasury and cancel the remaining 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.