Innlanz Limited (ASX:INL) announces a share repurchase program. Under the program, the company will repurchase up to 63,263,608 shares, representing 20.2% of its issued share capital. The shares will be repurchased at a price of AUD 0.013 per share.

The purpose of the program is to provide all the shareholders the opportunity to potentially realize some or all of their investment in the company before the delisting. The repurchased shares will be cancelled. The offer will be funded from by an interest fee debt facility with a principal amount of up to AUD 0.82 million from Pacific Merchants Group Pty Ltd. The offer is subject to shareholder approval to be obtained at the General Meeting to be held on June 14, 2024.

The company has fixed June 20, 2024, as the record date for the offer. The offer will expire on July 12, 2024. As of May 15, 2024, the company had 313,263,608 shares in issue.