Starburst Holdings Limited (Catalist:40D) commences share repurchases on January 9, 2017 under the program mandated by the shareholders in the Annual General Meeting held on April 22, 2016. As per the mandate, the company will repurchase up to 12,500,000 shares, representing 5% of the issued share capital. The company will make market purchases on the Singapore Exchange Securities Trading Limited or off-market purchase effected otherwise than on the SGX-ST in accordance with any equal access scheme. 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 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. While in case of off-market repurchases, the maximum price that will be paid by the company for repurchases will be 120% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded immediately preceding the date of offer by the company. The purchased shares shall be cancelled or kept as treasury shares, or partly cancelled and partly kept as treasury shares, as the Directors deem fit in the interests of the company at that time. The company shall use internal sources of funds, or a combination of internal resources and external borrowings, to finance the purchase or acquisition of shares pursuant to the share purchase mandate. Purchases of shares may be made, at any time and from time to time, from the approval date up to the earliest of either the date on which the next Annual General Meeting of the company is held or is required by law to be held, or the date on which the purchase or acquisition of shares have been carried out to the full extent of the share purchase mandate, or the date on which the authority conferred by the share purchase mandate is varied or revoked by an ordinary resolution of shareholders in a General Meeting.