The Hour Glass

[Choon]

Hi Choon,

Qn: THG has a share purchase mandate where the company is authorised to buy up to 10% of issued shares. Currently it has acquired about 7%. The limit of 10%, does it mean the company can purchase up to 10% in each year or cumulatively across time, the company can only purchase up to 10%?

The mandate will lapse before the end of the next AGM. Therefore, the company will have to renew it at the next AGM to get another 10% again. No, its not cumulatively over time but rather, it is 10% for one year until the next AGM.

Thank you for the clarification.