CLINUVEL (ASX:CUV) Renews Share Buy-Back Program

Share Buy-Back Program

CLINUVEL has renewed its share buy-back program for an additional 12 months, allowing the repurchase of up to 1,500,000 ordinary shares, approximately 3.0% of its outstanding share capital.

Executive Comments

Prof Jeffrey Rosenfeld, CLINUVEL’s Chair, stated, “The Board is committed to ensuring all available tools are in place to achieve valuations that reflect CLINUVEL’s business and progress. In an uncertain macroeconomic environment, prudent cash management remains a priority. There may, however, be opportune moments to use capital to support our shareholders through an on-market share buy-back. The Board has closely monitored the buy-back program to date and decided that maintaining this option is in the best interests of the Company and shareholders.”

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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 recommended BHP Group. 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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