Memtech International Ltd. (SGX:BOL) commences share repurchase program on June 13, 2018, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2018. As per the mandate, the company is authorized to repurchase up to 14,088,087 shares, representing 10% of the issued ordinary share capital. In case of both on market repurchases and off market repurchases, the maximum price that will be paid by the company for repurchases will be 5% 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. The company may only apply funds legally permitted for such purchase in accordance with its Articles of Association, and the relevant laws and regulations enacted or prescribed by the relevant competent authorities in Singapore. The repurchased shares will be cancelled or held in treasury. 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.