Koufu Group Limited commences an Equity Buyback Plan for 55,461,640 shares, representing 10% of its issued share capital, under the authorization approved on April 26, 2021.

Koufu Group Limited (SGX:VL6) commences share repurchases on April 30, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 26, 2021. As per the mandate, the company is authorized to repurchase up to 55,461,640 shares, representing 10% of the issued ordinary share capital. In case of on market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made. While in case of off-market repurchases, the maximum price that will be paid by the company for repurchases will be 110% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded immediately preceding the date of offer by the company. The repurchased shares will be held in treasury or cancelled. The company intends to use its internal resources or external borrowings, or combination of both to finance its purchase or acquisition of its shares. 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.