Yi-Lai Bhd (KLSE:YILAI) commences share repurchases on January 15, 2018 under the program mandated by the shareholders in the Annual General Meeting held on May 25, 2017. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital. The repurchased shares will be canceled, or retained in treasury, or partially cancelled and retained in treasury, or distributed as dividend to the shareholders or resold on Bursa Securities. 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 share repurchase 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 of the company is required by the bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in General Meeting revoking or varying the authority given to the directors of the company.