Capral to Accelerate On-Market Share Buyback; Shares Up 3%
MT Newswires Live11:31
Capral (ASX:CAA) said it will increase the pace of its on-market share buyback while retaining the existing terms and maximum limit of up to 10% of issued ordinary shares in any 12-month period through Dec. 17, according to a Monday filing with the Australian bourse.
The company intends to purchase 40% to 50% of shares traded over the preceding 20 business days for the remainder of the buyback period, capped at 60% except for a single large parcel, the filing said.
The company's shares rose 3% in recent Monday trade.
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