Raffles Medical Group Ltd (SGX:BSL) commences share repurchases on December 6, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2021. As per the mandate, the company is authorized to repurchase up to 186,740,892 shares, representing 10% of its issued share capital. In case of both on and off market repurchases, 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 intends to use internal sources of funds or external borrowings and/or a combination of both to finance purchases of shares. The repurchased shares will be cancelled or held in treasury. 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.