• Veris to renew on-market share buy-back for up to 10% of fully paid ordinary shares
• Buy-back provides flexibility to purchase shares based on prevailing share price and market conditions
• No shareholder approval required as within '10-12 limit' under Corporations Act

Veris Limited (ASX: VRS) is pleased to announce that it intends to renew an on-market share buy-back for up to 10% of the Company's fully paid ordinary shares on issue. The Veris Board has resolved to undertake this renewal, taking into account the current and recent share price trading ranges and volumes of the Company's shares, coupled with the Company's strong net cash balance. The on-market buy-back mechanism will allow Veris to acquire up to 10% of the Company's shares on issue (approximately 50.9 million shares) over the upcoming 12-month period. This buy-back program provides Veris with the flexibility to purchase shares on-market where the Board considers this to be the best use of the Company's funds, in light of the prevailing share price, the Company's capital funding requirements, and other considerations such as business and market conditions. Veris reserves the right to suspend or terminate the buy-back at any time. The price paid for shares purchased by Veris under the buy-back will be no more than 5% above the volume weighted average market price for Veris shares traded over the 5 days prior to the day on which the purchase under the buy-back is made. Morgans Financial Ltd has been appointed by Veris Ltd to act as the broker for the buy-back.