Degem Bhd (KLSE:DEGEM) commences share repurchases on June 2, 2017 under the program mandated by the shareholders in the Annual General Meeting held on May 26, 2017. As per the mandate, the company is authorized to repurchase shares such that the company’s holding in treasury does not exceed 10% of its issued share capital. The shares will be repurchased at a price which is not more than 15% above the weighted average market price of the shares for the past 5 market days immediately preceding the date of the purchases. The shares purchased may be cancelled, or may be retained as treasury shares in accordance with the relevant rules of Bursa Securities for distribution as dividend to the shareholders and/or resell through Bursa Securities and/or subsequently cancelled; and/or part of the shares may be retained as treasury shares with the remaining being cancelled. 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 and share premium account of the company. The funding of the proposed share buy-back will be from internally generated funds and/or external borrowings. The repurchases will be in accordance with provisions of the company’s Memorandum and Articles of Association, the Listing Requirements of Bursa Malaysia Securities Berhad for MESDAQ Market and any other applicable laws, rules, regulations and guidelines for the time being in force. The share buyback program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company by this resolution. As of April 13, 2017, the company had 134,000,000 shares in issue and held 3,159,900 shares in treasury.