Keppel Corporation Limited (SGX:BN4) commences share repurchases on January 26, 2018, under the program mandated by the shareholders in the Annual General Meeting held on April 21, 2017. As per the mandate, the company is authorized to repurchase up to 90,882,201 shares, representing 5% of its issued share capital. In case of on market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price and in case of off-market repurchases pursuant to an equal access scheme, the maximum price that will be paid by the company for repurchases will be 120% of the average closing price, where average closing price is the average of the closing price of company's share over the period of five market days in which transactions in the shares on the SGX-ST were recorded. The program will expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required to be held by law or the date on which the purchases or acquisitions of shares by the company pursuant to the Share Purchase Mandate are carried out to the full extent mandated.