4th Jan 2022 14:45
Capital Ltd - Mauritius-based mining company - plans to start a share buyback programme in accordance with the authority granted by shareholders at its last annual general meeting. Explains that it entered a buyback agreement with Stifel Nicolaus Europe Ltd, instructing Stifel to repurchase its ordinary shares of USD0.0001 each. Adds that the programme will not exceed 2 million ordinary shares and the maximum amount allocated to it is USD2.5 million. States that the programme will end latest when the maximum programme size or with its next annual general meeting.
Says aim of the programme is to reduce its share capital and meet obligations arising from share option programmes.
"While we remain primarily focused on growth, today's announcement of a share buyback programme demonstrates the board's confidence in the business, especially after the successful ramp-up of the Sukari mining contract and the continued successful growth of our drilling and laboratory operations," Executive Chair Jamie Boyton says.
Current stock price: 89.33 pence
Year-to-date change: up 6.1%
By Abby Amoakuh; [email protected]
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