Napier Port has announced the approval of an on-market share buyback programme, with the aim of purchasing up to 0.5% of its ordinary shares.
The programme, which will involve the acquisition of shares on the NZX Main Board, is set to commence on May 26, 2025, and will have a duration of up to 12 months.
Napier Port intends to limit the purchase of shares to approximately 260,000.
The acquired shares will be held as treasury stock and will be used for the company's employee share ownership plans.
However, Napier Port also reserves the right to suspend or terminate the buyback programme at any time, without notice.
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