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Financial News

May 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

May 03, 2024

NOTICE OF SHARE REPURCHASE
GRACEKENNEDY LIMITED (GKC)


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

April 18th, 2024

101,500

JM$73.94

April 18th, 2024

48,500

JM$73.95

April 19th, 2024

85,121

JM$73.75

April 22nd, 2024

35,010

JM$73.00

April 29th, 2024

60,000

JM$73.00

April 30th, 2024

10,000

JM$73.94

April 30th, 2024

39,761

JM$72.90

April 30th, 2024

339

JM$73.00

Total

380,231

 



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 April 30th, 2024 is a total of 1,957,722 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
Friday 3rd May, 2024