Kim Loong Resources Berhad (KLSE:KMLOONG) commences share repurchases on January 6, 2016, under the program mandated by the shareholders in the Annual General Meeting held on July 27, 2015. As per the mandate, the company is authorized to repurchase up to own shares, such that the company's holding in treasury does not exceed 10% of its issued share capital. The company will repurchase its shares through Bursa Malaysia Securities Berhad.

The maximum fund to be allocated by the company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits and share premium account of the company. The shares purchased may be cancelled, or may be retained as treasury shares in accordance with the relevant rules of Bursa Securities for distribution as dividend to the shareholders and/or resell through Bursa Securities and/or subsequently cancelled; and/or part of the shares may be retained as treasury shares with the remaining being cancelled. The repurchases will be in accordance the Companies Act, 1965, the Memorandum and Articles of Association of the company, the Listing Requirements of Bursa Malaysia Securities Berhad and the approvals of all relevant governmental and/or regulatory authorities (if any).

The share buyback program shall be valid until the earliest of the conclusion of the next Annual General Meeting, or the expiration of the period within which the next Annual General Meeting of the company is required by the Bye-laws of company to be held or the passing of an ordinary resolution by the shareholders of the company in general meeting revoking or varying the authority given to the directors of the company by this resolution.