AIR
27/09/2013 14:13
BUYBACK
REL: 1413 HRS Air New Zealand Limited (NS)
BUYBACK: AIR: Air New Zealand - Share Buy-Back
Air New Zealand announced today that it will renew the on-market share
buy-back facility established on 28 September 2012 which expires today.
Under the facility Air New Zealand will purchase up to 3% or up to $45
million of its shares (whichever is lower) over the next 12 months.
This will provide the Company with the flexibility to purchase shares from
time to time when market conditions indicate such purchases would create
value for all Air New Zealand shareholders. In making the announcement, the
Directors noted that any repurchased shares would be held as Treasury stock
and that this Treasury stock could be used to satisfy the requirements under
the Company's Long Term Incentive Programme with senior employees.
The Crown has confirmed to the Company that it does not intend to participate
in the offer.
Ends.
End CA:00241717 For:AIR Type:BUYBACK Time:2013-09-27 14:13:34
Price at posting:
$1.50 Sentiment: None Disclosure: Held
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