Just checking - are you unsure of what a cancellation of shares means and interpreting this announcement as AGL opting not to go ahead with a buy-back?
Because if you are, then put simply they are buying some publicly traded shares and then removing them from circulation (cancelling them), so that there are less shares left in existence and thereby increasing the value of the shares that remain tradeable.
If you knew that (apologies, not meaning to condescend) then the reason for this and other cancellations is to increase the price per remaining share. Possibly this is because somebody's bonus incentive is tied to share price...
Ann: ASIC Form 484 - Cancellation of Buy-Back Shares, page-3
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Last
$11.50 |
Change
0.050(0.44%) |
Mkt cap ! $7.736B | |||
| Open | High | Low | Value | Volume |
| $11.50 | $11.56 | $11.41 | $21.39M | 1.863M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4497 | $11.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.50 | 43089 | 6 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| AGL (ASX) Chart |