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Central Petroleum Limited (ASX:CTP)

ALERT: Price-sensitive ASX Announcement for CTP
Current share price for CTP : $0.064 0.009 (16.36%)+
Announcement
Release
30 Jul 2025 9:30AM
Price at Release
$0.055
Full Release
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Summary
Central Petroleum Limited (CTP) announced its intention to undertake an on-market share buy-back program, allowing the company to buy back up to 10% of its issued fully paid ordinary shares over a 12-month period. The decision was made after considering the company’s capital management strategy and the current share price, which the board believes does not fully reflect the underlying value of the company. The buy-back will be funded from existing cash reserves and is expected to enhance shareholder value by improving earnings per share and return on equity. The announcement includes details on the buy-back process, regulatory compliance, and the expected benefits, emphasizing that participation is voluntary and no shareholder is obliged to sell their shares into the buy-back.
Key Points
  • Central Petroleum Limited (CTP) announced an on-market share buy-back.
  • The buy-back permits up to 10% of CTP's issued fully paid ordinary shares to be purchased within 12 months.
  • The board believes the current share price undervalues the company.
  • The buy-back will be funded from existing cash reserves.
  • The program aims to enhance shareholder value through improved earnings per share and return on equity.
  • Participation is voluntary, and there is no obligation for shareholders to sell.
  • The company is committed to regulatory compliance throughout the buy-back process.
  • The buy-back forms part of CTP’s broader capital management strategy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.