Reservoir Link Energy Bhd (KLSE:RL) announces an Equity Buyback for 29,044,500 shares, representing 10% of its issued share capital, under the authorization approved on May 12, 2022.

Reservoir Link Energy Bhd (KLSE:RL) commences share repurchases on July 13, 2022, under the program mandated by the Annual General Meeting held on May 12, 2022. As per the mandate, the company is authorized to repurchase up to 29,044,500 shares, representing 10% of its issued share capital. The program will be financed via internally generated funds and/or bank borrowings.

The company may cancel all the shares so purchased, retain the shares so purchased in treasury for distribution as dividend to the shareholders and/ or resell on the market of Bursa Securities or retain part thereof as treasury shares and cancel the remainder. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of March 16, 2022, the company had 290,445,000 shares issued.