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Financial News

Jan 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Jan 16, 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

December27th 2023

 1,606

 JM$ 79.99

December27th 2023

 8,572

 JM$ 80.00

December27th 2023

 2,414

 JM$ 79.00

December27th 2023

 500

 JM$ 77.50

December27th 2023

 215,912

 JM $78.00

December27th 2023

 966

 JM $79.95

 Total

 230,000

 


GKC further advised as follows:

The purpose for the purchase is to enhance shareholder value.

  1. The maximum intended repurchase is up to 1% of the shares in issue (approximately 9,950,000 shares). The actual repurchased as at December 27th, 2023 is a total of 789,724 shares.
  2. The effective date of the purchase – per table above.
  3. The source of funding of the purchase is GKC’s cash flows.
  4. The method of effecting the purchase is on the open market via GKC’s brokers.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday 16th January, 2024