Ranhill Utilities Berhad (KLSE:RANHILL) commences share repurchases on July 1, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 28, 2021. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital. The share repurchases will be canceled and/or retained in treasury, or distributed as dividend to the shareholders or resold on Bursa Securities. The repurchases will be funded through internally generated funds and/or external borrowings. The maximum fund to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained earnings of the company. 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.