Singapore Airlines Limited commences an Equity Buyback Plan for 148,711,715 shares, representing 5% of its issued share capital, under the authorization approved on July 27, 2023.

Singapore Airlines Limited (SGX:C6L) commences share repurchases on March 7, 2024 under the program mandated by the shareholders in the Annual General Meeting held on July 27, 2023. As per the mandate, the company is authorized to repurchase up to 148,711,715 shares, representing 5% of its issued share capital. 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 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 immediately preceding the date of offer by the company. The authorization shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required by law to be held, the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked.