Ouhua Energy Holdings Limited commences an Equity Buyback for 38,328,800 shares, representing 10% of its issued share capital, under the authorization approved on June 28, 2023.

Ouhua Energy Holdings Limited (SGX:AJ2) commences share repurchases on September 27, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on June 28, 2023. As per the mandate, the company is authorized to repurchase up to 38,328,800 shares, representing 10% of the 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 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.