Sunvest Corporation Limited (ASX:SVS) commences share repurchases on August 12, 2022, under the program mandated by the shareholders in the General Meeting of shareholders held on August 12, 2022. As per the mandate, the company is authorized to repurchase 12,159,024 shares, representing 100% of its issued share capital for AUD 7.17 million. The shares will be repurchased at a price of AUD 0.59 per share.

The purpose of the program is to efficiently return of capital to shareholders whilst reducing the number of shares on issue and distributing cash prior to the proposed de-listing of Sunvest. All shares that the company buys back will be cancelled. The Buy-Back will be funded by the company's existing cash reserves.

The company has fixed August 19, 2022, as the record date for the offer. The program will close on October 10, 2022. As of July 1, 2022, the company had 12,159,024 shares in issue.