Napier Port Holdings Limited has announced that they have approved an on-market share buyback programme which, subject to the NZX Main Board, will purchase up to 5% of their ordinary shares over a 12-month period starting 19 October 2022.
The acquired shares will be held as treasury stock and will be used for Napier Port's long term incentive plan.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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