Dec 02, 2021
The Directors of JMMB GL at their board meeting on November 25, 2021 approved the recommendation made by management to execute an open market share buyback programme of JMMB Group Limited (JMMBGL) ordinary shares, to commence in FY 2022/23, which begins on April 1, 2022.
The programme is intended to be used as a continuing tool for JMMBGL to support shareholder value, over time, and will be funded by the Company's cash flows. The Directors have approved the allocation of an initial amount of J$300 Million to fund the programme, over a one-year period, after commencement, but the specific terms and parameters of the programme remain subject to approval and will be notified to the market, once finally approved.
Management will be engaging the regulators to confirm the regulatory requirements in both jurisdictions in which the Company's ordinary shares are publicly listed. The share buyback programme will not be made available where it would be contrary to applicable laws or where necessary regulatory approvals have not been granted to the Company.
The Trinidad and Tobago Stock Exchange Limited
Thursday 2nd December, 2021