PBA Holdings Bhd (KLSE:PBA) commences share repurchases on July 1, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 27, 2023. 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 company will cancel the repurchased shares or retain them in treasury for distribution as dividend to the shareholders and/or resale on the market of the Bursa Securities or retain part of the shares so purchased as treasury shares and cancel the remainder.

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 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.