PCCS Group Berhad (KLSE:PCCS) commences share repurchases on April 6, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 22, 2021. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The shares will be repurchasing at a price which is not more than 15% above the weighted average market price of the company shares for the five market days immediately before the date of the purchases.

The repurchased shares will be retained as treasury shares which may be distributed as dividends and/or resold on Bursa Malaysia Securities Berhad and/or cancelled and/or transfer for the purposes of or under an employees' share scheme and/or be dealt with by the Directors of the Company in the manners allowed by the Companies Act 2016. The purpose of the program is to return its surplus financial resources to its shareholders, stabilize the supply and demand of the Shares in the open market and thereby supporting its fundamental values. The program will funded by using the internally generated funds of the Company and/or external borrowings or combination of both.

The authority will expire at the the conclusion of the next Annual General Meeting of the company, at which time the said authority will lapse unless by an ordinary resolution passed at the general meeting of the company, the authority is renewed, either unconditionally or subject to conditions; the expiration of the period within which the next Annual General Meeting of the company is required by law to be held; or revoked or varied by an ordinary resolution passed by the shareholders in general meeting, whichever is the earlier.