ARGO INVESTMENTS LIMITED (ASX:ARG) Announces On-Market Buy-Back
Buy-Back Program Initiated
ARGO INVESTMENTS LIMITED has announced an on-market buy-back of its ordinary fully paid shares, with up to 38,162,831 shares eligible for repurchase. This initiative aims to support the company’s capital management strategy.
Details of the Buy-Back
Currently, the total number of ordinary shares on issue stands at 763,256,634. The buy-back is set to commence on 2 January 2025 and will conclude on 31 December 2025. Macquarie Securities (Australia) Limited will act as the broker for the buy-back transactions, with share repurchases priced in Australian dollars.
Capital Management Strategy
The renewal of the company’s on-market buy-back facility for an additional 12 months underscores ARGO INVESTMENTS’ commitment to effective capital management. The buy-back does not require prior approval from security holders.
Motley Fool contributor Abbie Stokes 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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