The shareholders of Nam Lee Pressed Metal Industries Ltd. (SGX:G0I) authorized a share repurchase program at its Annual General Meeting on January 30, 2013. Under the plan, the company will repurchase up to 10% of its issued share capital. The repurchases will made on market repurchases or through off-market purchase effected otherwise than on the SGX-ST in accordance with any equal access scheme. 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 program shall expire at the earliest of the date on which the next Annual General Meeting of the company is held or is required to be held, the date on which the share buy-backs are carried out to the full extent mandated or the date on which the authority contained in the share buyback mandate is varied or revoked.
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