AnnAik Limited commences an Equity Buyback Plan for 28,853,087 shares, representing 10% of its issued share capital, under the authorization approved on April 30, 2021.

AnnAik Limited (Catalist:A52) commences share repurchases on August 27, 2021, under the program mandated by the Annual General Meeting held on April 30, 2021. As per the mandate, the company is authorized to repurchase up to 28,853,087 shares, representing 10% of the issued ordinary share capital. The purchase price to be paid per share for any share buybacks shall be a price which does not exceed 105% of the average of the closing market prices of the shares over the last five market days, on which transactions in the shares were recorded, before the day on which the purchases are made and deemed to be adjusted for any corporate action which occurs after the relevant five day period. The repurchased shares will be cancelled. The repurchased shares will be paid from internal sources of funds, or a combination of internal resources and external borrowings. The buyback will be exercised with a view to enhance the earning per share of the company. The share repurchase program 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 or 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, whichever is earlier.