UPA Corporation Bhd (KLSE:UPA) commences share repurchases on January 22, 2016 under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2015. As per the mandate, the company is authorized to repurchase its own shares, such that it's holding in treasury does not exceed 10% of its issued share capital. The repurchased shares may either be cancelled and/or retained in treasury.

The maximum fund to be allocated for the purpose of purchasing the shares shall not exceed the aggregate of the company's retained profits and/or 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.