GDEX Berhad (KLSE:GDEX) commences share repurchases on June 20, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 11, 2024. As per the mandate, the company is authorized to repurchase its own shares, such that the company?s holding in treasury does not exceed 10% of its issued share capital. The shares will be purchased at a price which is not more that 15% above the weighted average market price of the company?s shares for the five market days immediately prior to the date of the purchase.

The maximum funds to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits reserve and the company may use internally generated funds to finance the repurchases. The shares repurchased will be cancelled or retained as treasury shares or distributed as share dividends to the company?s shareholders, or resold, or transferred for the purposes of or under an employees? share scheme, or transferred as purchase consideration.

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.