CB INDUSTRIAL PRODUCT HOLDING CB Industrial Product Holding Berhad (KLSE:CBIP) commences share repurchases on July 26, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 30, 2023. As per the mandate, the company is authorized to repurchase own shares, such that the company?s holding in treasury does not exceed 10% of its issued share capital. The repurchased shares will be cancelled, retained as treasury shares, resold on Bursa Securities or distributed as share dividends to shareholders.
The repurchases will be funded through internally generated funds and/or external bank borrowings. 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.
