OUE Limited (SGX:LJ3) commences share repurchases on May 4, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2022. As per the mandate, the company is authorized to repurchase up to 86,968,466 shares, representing 10% of the issued ordinary share capital. In case of both a market repurchase and off-market repurchase, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made.

The company may use its internal resources or external borrowings or a combination of both to finance the purchase or acquisition of its shares. The shares purchased or acquired by the company are deemed cancelled immediately on purchase or acquisition unless such shares are held by the company as 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.