Datasonic Group Berhad (KLSE:DSONIC) commences share repurchases on August 4, 2023, under the program mandated by the shareholders in the Annual General Meeting held on August 2, 2023. As per the mandate, the company is authorized to repurchase its own shares such that it?s holding of own shares at any time does not exceed 10% of its total issued and paid-up share capital. The repurchased shares will either be canceled, or retained in treasury, or partially cancelled and retained in treasury.

The repurchases will be funded through internally generated funds and/or external 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.