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Financial News

Oct 2024 Financial News

GraceKennedy Limited - Notice of Share Repurchase

Oct 07, 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

September 20th, 2024

50,000

JM$73.90

September 23rd, 2024

4,515

JM$73.89

September 23rd, 2024

20,986

JM$73.90

September 23rd, 2024

33,254

JM$74.00

September 25th, 2024

100,000

JM$74.25

September 25th, 2024

80,000

JM$74.00

Total

288,755

 


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 number of shares repurchased as at September 25th, 2024 is a total of 4,327,521 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
Monday, 7th October, 2024