Seatrium Limited (SGX:S51) commences share repurchases on June 4, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2024. As per the mandate, the company is authorized to repurchase up to 68,217,075 shares, representing 2% of its issued share capital. In case of on market repurchases and off-market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made. The shares purchased will be deemed cancelled immediately on purchase unless such shares are being held by the company as treasury shares. The repurchase program will be funded from internal and/or external sources of funds. 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 carried out to the full extent, unless varied or revoked in a General Meeting.

On April 29, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to SGD 100 million worth of its shares. The program will be funded out of existing cash and shares repurchased will be held as treasury shares which will in turn be deployed for the group?s existing employee share plans, used to pay the share component of the directors? fees, or cancelled against the group?s share capital to increase shareholder returns.