Winking Studios: Commencement of Share Buyback
Winking Studios Limited (AIM / SGX:WKS), (“Winking Studios”) one of the world’s largest AAA game art outsourcing studios and an established game development company, announces that the Company has initiated a share buyback programme for an initial aggregate consideration of up to approximately S$857,000 (equivalent to approximately £500,000 or US$665,000) (the “Initial Programme”), pursuant to the share buyback mandate approved by Shareholders at the Extraordinary General Meeting held on 30 April 2026 (the “EGM”).
In line with best practice of companies listed on AIM, this announcement is made to provide clarity and context to shareholders on the Company’s capital allocation approach and the exercise of the mandate granted at the EGM, ensuring investors are informed of the commencement and parameters of the Initial Programme.
The Initial Programme will be conducted through one or more duly licensed stockbrokers appointed by the Company in accordance with the authority granted to the Company under the share buyback mandate, details of which are set out in the circular to Shareholders dated 7 April 2026 (the “Circular”).
Under the share buyback mandate, the Company is authorised to purchase or otherwise acquire up to 44,193,811 ordinary shares of par value S$0.04 each in the capital of the Company (“Ordinary Shares”) representing up to 10 per cent. of the total number of existing Ordinary Shares, excluding any treasury shares and subsidiary holdings, as at the date of the EGM.
The Board believes that the current market value of the Company’s Ordinary Shares does not appropriately reflect the underlying value of the Group and that the Initial Programme represents an appropriate use of capital.