Enprise Group has announced its intention to acquire up to 1,003,102 ordinary fully paid shares, representing 5% of the company's shares on issue, excluding treasury stock.
The prospective buyback will take place on the NZX and is expected to occur within the next 12 months.
The company said the proposed purchase price is fair and reasonable, considering the current market price and its assessment of the fair market value of Enprise shares.
It added that there are no plans or need to retain the funds for the buyback, allowing it to maintain an appropriate debt-to-equity ratio.
The acquired shares will be held as treasury stock, unless the board decides otherwise.
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