V.S. Industry Berhad (KLSE:VS) commences share repurchases on January 10, 2024, under the program mandated by the shareholders in the Annual General Meeting held on January 5, 2024. As per the mandate, the company is authorized to repurchase its own shares such that it?s holding of own shares at any time does not exceed 10% of its total issued and paid-up share capital. The shares will be purchased at a price which is not more than 15% above the weighted average market price of company's shares for the past 5 market days immediately preceding the date of the purchase.

The maximum fund to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits. The repurchases will be financed out of the internally generated funds. 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 varied or revoked in a General Meeting.