BLOKS plans to repurchase company shares
The board of BLOKS plans to repurchase company shares from the date of the announcement until December 31, 2025, with funds sourced from existing cash reserves and free cash flow. The repurchased shares will be used for employee equity incentives. According to the resolution passed at the annual general meeting of shareholders on June 6, 2025, the board is authorized to repurchase up to 10% of the total issued shares (i.e., no more than 24.925 million shares)
According to the announcement from BLOKS (00325), the board of directors intends to repurchase the company's shares in the open market from the date of this announcement until December 31, 2025. The company will fund the share repurchase plan from its existing available cash reserves and free cash flow (to avoid doubt, the aforementioned funds do not involve the proceeds from the company's global share offering). The repurchased shares will be used for subsequent employee equity incentives.
According to the ordinary resolution passed by the company's shareholders at the annual general meeting held on June 6, 2025, the board of directors has been granted a general and unconditional authorization to repurchase shares, not exceeding 10% of the total number of shares issued by the company as of June 6, 2025 (excluding treasury shares), which is not more than 24.925 million shares of the company's issued shares
