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Financial News

Jul 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Jul 09, 2024

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from GKC advising that they repurchased the shares outlined below under their share repurchase programme.

Date of purchase

Number of Ordinary Shares Purchased

Price

March 26th, 2024

150,000

JM$74.00

April 16th, 2024

28,411

JM$73.97

April 16th, 2024

21,589

JM$73.80

Total

200,000

 

GKC further advised as follows:
1. The purpose for the purchase is to enhance shareholder value.
2. The maximum intended repurchase is up to 1% of the shares in issue (approximately 9,950,000 shares). The actual repurchased as at July 08th, 2024 is a total of 2,792,722 shares.
3. The effective date of the purchase – per table above.
4. The source of funding of the purchase is GKC’s cash flows.
5. The method of effecting the purchase is on the open market via GKC’s brokers.


Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday 9th July, 2024