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Financial News

Jul 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Jul 23, 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                   
July 08th, 2024 42,120 JM$73.20
July 08th, 2024 40,124 JM$74.00
July 08th, 2024 9,876 JM$73.99
July 10th, 2024 1,778 JM$73.20
July 10th, 2024 1,789 JM$73.95
July 10th, 2024 48,222 JM$73.99
July 11th, 2024 2,242 TT$3.69
July 11th, 2024 409 TT$3.70
July 12th, 2024 31,128 TT$3.89
July 15th, 2024 15,935 JM$73.45
July 15th, 2024 100,000 JM$73.50
July 16th, 2024 166,221 TT$3.89
July 17th, 2024 12,550 JM$72.51
July 17th, 2024 62,450 JM$73.00
Total  534,844  

GKC furhter 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 a at July 17th, 2024 is a total of 3,327,566 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 broker. 

Source:

The Trinidad and Tobago Stock Exchange 

Tuesday, 23rd July, 2023.