Per Q3 update
XPD Share Buy Back Scheme
In September 2016, XPD announced to the market that it planned a Share
Buy Back scheme. Following the announcement, XPD completed the required
notification forms to ASX and ASIC. Furthermore XPD opened a Broker
account to enable Share Buy Back transactions to be executed.
The final step was to apply to People’s Bank of China for XPD funds to be
transferred from China to Australia to settle trades under the Share Buy Back
scheme. XPD still awaits a response from PBOC to this funds transfer
application. XPD is unable to advise the market precisely when approval will
be granted and funds will be transferred.
