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Financial News

Dec 2023 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Dec 21, 2023

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

 December 11th 2023

 19,450

 JM$ 77.50

 December 12th 2023

 4,000

 JM$ 76.00

 December 13th 2023

 118,640

 JM$ 74.00

 December 13th 2023

 20,000

 JM$ 76.00

 December 13th 2023

 14,668

 TT$ 3.98

 Total

 176,758

 

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 December 13th, 2023 is a total of 299,724 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
Thursday 21st December, 2023