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Financial News

Aug 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Aug 29, 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

 August 20th, 2024

 150,000

 JM$74.10

 August 21st, 2024

 50,000

 JM$73.50

 August 27th, 2024

 32,000

 JM$73.50

 Total

 232,000

 

GKC further advised as follows:

The purpose for the purchase is to enhance shareholder value.

  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 number of shares repurchased as at August 27th, 2024 is a total of 3,698,425 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 29th August, 2024