NZME has announced it will commence an on-market share buyback programme of NZME ordinary shares on 4 April 2022.
The buyback programme may run up to twelve months, with an aggregate purchase price of up to NZ$30 million.
NZME reserves the right to suspend or terminate the buyback programme at any time.
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The S&P/NZX 50 Index is down 1.5% since the beginning of the year.
Pacific Edge is on a trading halt until Monday.
The downgrade comes ahead of Jan 26, when Briscoe's financial year ends.
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