IGB Berhad (KLSE:IGBB) commences share repurchases on May 29, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 28, 2024. As per the mandate, the company is authorized to repurchase own shares, such that the company?s holding in treasury does not exceed 10% of its issued share capital. The maximum amount of funds to be allocated for the repurchase shall not exceed retained profits of the company at the time of purchase.

The repurchased shares can be distributed as dividends, resold, transferred, cancelled and/or in any other manner prescribed by the CA2016. 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.