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Financial News

Mar 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Mar 07, 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 01st, 2024

 185,332

 TT$ 3.98

March 01st, 2024

 50,682

 JM$ 75.00

Total

 236,014

 

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 March 01st, 2024 is a total of 1,025,738 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 7th March, 2024