DutaLand Berhad (KLSE:DUTALND) commences share repurchases on December 12, 2023, under the program mandated by the shareholders in the Annual General Meeting held on November 30, 2023. 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 at any point of time. 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 repurchases will be funded through internally generated funds. The maximum amount of funds to be allocated for the repurchase shall not exceed the aggregate of retained profits 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.