Venture Corporation Limited announces an Equity Buyback for 14,533,678 shares, representing 5% of its issued share capital, under the authorization approved on April 28, 2022.

Venture Corporation Limited (SGX:V03) commences share repurchases on November 24, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2022. As per the mandate, the company is authorized to repurchase up to 14,533,678 shares, representing 5% of its issued ordinary share capital. The maximum price in the case of an on-market purchase will be 105% of the average closing price and in the case of an off-market purchase at 110% of the average closing price.

The repurchased shares will be cancelled or held in treasury. The repurchase program will be funded from company's distributable profits, internal sources of funds, external borrowings or a combination of both. The share buyback program shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required by law to be held or the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked.