Pengana Private Equity Trust (ASX:PE1) Announces On-Market Buy-Back
Buy-Back Details
Pengana Private Equity Trust (ASX:PE1) has announced an on-market buy-back plan for its ordinary units fully paid. The total number of units on issue stands at 277,361,937. The proposed maximum number of securities to be bought back is 27,660,913 units. This strategic decision aims to enhance shareholder value by potentially reducing the number of units on issue.
Timing of the Buy-Back
The buy-back is set to commence on 24 December 2024 and will conclude by 23 December 2025. The buy-back will be executed through a broker, which is yet to be confirmed. The buy-back will take place at a price that is yet to be disclosed, and the payment will be made in Australian dollars.
Regulatory Information
This buy-back does not require approval from security holders. The trust is utilising this mechanism to manage its capital efficiently, demonstrating a commitment to its investors.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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