Prima Marine Public Company Limited announces an Equity Buyback for 100,000,000 shares, representing 4% for THB 800 million.

Prima Marine Public Company Limited (SET:PRM) announces a share repurchase program. Under the program, the company will repurchase up to 100,000,000 shares, representing 4% of its issued share capital, for THB 800 million. The repurchase price will not exceed 115% of average closing price of 5 consecutive business days prior to each repurchase date.

The purpose of the program is to maximize benefit from the company?s excess liquidity, to increase the return on equity (ROE) and the earning per share (EPS). The repurchased shares will be resold. The repurchase program will be valid till June 27, 2024.

As of March 13, 2023, the company had 2,500,000,000 shares outstanding.