The shareholders of Ornapaper Bhd (KLSE:ORNA) authorized a share repurchase program at its Annual General Meeting on June 28, 2013. Under the program, the company will repurchase its own shares, such that it's holding in treasury does not exceed 10% of its issued share capital. The repurchase will be made on Bursa Securities.

The Directors of the company may decide either to retain the shares repurchased as treasury shares or cancel the shares or retain part of the shares so repurchased as treasury shares and cancel the remainder or to resell the shares or distribute the shares as dividends. The maximum fund to be allocated for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits and/or its share premium account. 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 is required by the bye-laws of the company to be held or the passing of an ordinary resolution by the shareholders in a General Meeting revoking or varying the authority given to the directors.