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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