Singapore Exchange Limited Commneces an Equity Buyback for 107,164,240 shares, representing 10% of its issued share capital, under the authorization approved on October 3, 2019.
January 24, 2020 at 12:07 am
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Singapore Exchange Limited (SGX:S68) commences share repurchases on January 24, 2020, under the program mandated by the shareholders in the Annual General Meeting held on October 3, 2019. As per the mandate, the company is authorized to repurchase up to 107,164,240 shares, representing 10% of the issued ordinary 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 purpose of the program is to increase shareholders’ value by improving, inter alia, the return on equity of the company and will provide the company with greater flexibility in managing its capital and maximizing returns to its shareholders and will also allow management to effectively manage and minimize the dilution impact, if any associated with share schemes. The repurchased shares will be cancelled. The company intends to use internal or external sources of funds or a combination of both to finance its purchase or acquisition of the shares. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting.
Singapore Exchange Limited is a securities and derivatives market infrastructure company. The principal activities of the Company are those of investment holding, treasury management, provision of management and administrative services to related corporations, provision of market data and technology connectivity services. Its segments include Fixed Income, Currencies and Commodities; Equities-Cash; Equities-Derivatives; Platform and Others; and Corporate. The Fixed Income, Currencies and Commodities segment is engaged in the provision of fixed income issuer services, derivatives trading and clearing services and collateral management. The Equities-Cash segment provides issuer services, securities trading and clearing, securities settlement and depository management. The Equities-Derivatives segment is engaged in the provision of derivatives trading and clearing and collateral management. The Platform and Others segment provides various services associated with the platform businesses.
Singapore Exchange Limited Commneces an Equity Buyback for 107,164,240 shares, representing 10% of its issued share capital, under the authorization approved on October 3, 2019.
SINGAPORE EXCHANGE LIMITED 
