The Board of Directors of Schaffer Corporation Limited (ASX: SFC) authorized a share repurchase program on May 27, 2022. Under the program, the company will repurchase up to 700,000 shares, representing 5.13% of its issued share capital. No shareholder approval is required in order to commence the program. The program is a capital management initiative and to support the market price at a substantial discount to net asset backing. The program will commence from June 14, 2022 and will be valid till June 13, 2025. As of May 27, 2022, the company has 13,641,244 shares in issue.

Alto Capital acted as the broker for Schaffer Corporation Limited.