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Hygrovest Limited (ASX:HGV)

ALERT: Price-sensitive ASX Announcement for HGV
Current share price for HGV : $0.048 0.008 (20%)+
Announcement
Release
23 Sep 2024 2:13PM
Price at Release
$0.040
Full Release
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Summary
Hygrovest Limited has announced an on-market share buyback of up to 21,031,060 ordinary shares, representing approximately 10% of the company's ordinary shares, as part of its capital management initiative. The buyback is set to commence on 10 October 2024 and will last for a 12-month period. The decision is driven by the discount at which HGV’s shares are trading compared to their underlying net asset value and the company's strong capital position. Purchase prices for the shares will not exceed 105% of the VWAP of HGV’s shares over the five trading days prior to purchase. The execution of the buyback will depend on market conditions and available share volumes.
Key Points
  • On-market share buyback of up to 21,031,060 ordinary shares.
  • Buyback represents approximately 10% of HGV’s ordinary shares.
  • Commencement date is 10 October 2024, lasting for 12 months.
  • Driven by the discount to underlying net asset value and strong capital position.
  • Purchase price will not exceed 105% of the VWAP over the prior five trading days.
  • Buyback execution dependent on market conditions and share volumes.
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.