Kim Heng Offshore & Marine Holdings Limited (Catalist:5G2) commences share repurchases on May 3, 2021, under the program mandated by the shareholders at the Annual General Meeting held on April 23, 2021. As per the mandate, the company is authorized to repurchase up to 70,790,730 shares, representing 10% of its issued shares. In the case of market purchase, the purchase price must not exceed 105% of the average closing price over the last 5 days and in the case of off-market purchase, the price must not exceed 120% of the average closing price over the last 5 days. The repurchased shares will be cancelled, unless held in treasury. The repurchases will be made out of the company’s capital and/or distributable profits that are available for payment as dividends so long as the company is solvent. 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.