Centrepoint Alliance Announces On-Market Share Buy-BackCentrepoint Alliance Limited (ASX: CAF) (‘Centrepoint’, the ’Company) today announced its intention to undertake an on-market share buy-back to acquire up to 10% of the Company's ordinary shares during the next 12 months.Shares will be purchased as and when considered appropriate by the Company during this time. The decision to implement a share buy-back has been made because the Directors believe, at current prices, it is in the best interests of shareholders. The buy-back will be funded from existing cash reserves.CEO Angus Benbow said, ‘Centrepoint Alliance has a robust balance sheet, healthy cash reserves and a strong business model. The decision to buy back up to 10% of company shares reflects our confidence in the underlying value of the business.’The share buy-back will allow the Company to maintain flexibility for any future capital management strategies. Centrepoint reserves the right to suspend or terminate the buy-back at any time, including to take advantage of inorganic opportunities as and when they emerge.Centrepoint’s Appendix 3C is appended to this announcement. This announcement has been authorised by the CEO.
CAF Price at posting:
8.8¢ Sentiment: Hold Disclosure: Held
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