The company has bought back some 53m shares (from a starting 804m shares in 2024) or 6.6% of the issued capital, since it commenced its first two US$25m buybacks (US$50m total) and now has 751m shares on issue.
Under the approved mandate from the last AGM, KAR can buy back up to 10% of the shares before seeking a new mandate. Therefore it can still buyback another 3.4% of the issued capital or 27m shares. At the current share price this would be A$43m or US$27m (1/3 of the announced 2025 buyback program) and reduce the number of shares to 724m.
Assuming the buyback mandate is approved to repurchase another 10% of the issued shares at the next AGM, the number if shares can be reduced by another 72m shares to 650m shares by mid 2026.
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