Sky Network Television Limited (Sky) has announced plans to commence an on-market share buyback programme on 6 April 2023 for a maximum aggregate of NZD$15 million in purchase price and up to 8,734,416 shares, representing 5% of the Company’s shares on issue.
The buyback programme is expected to last up to 12 months, with Sky reserving the right to suspend or terminate it at any time.
The programme follows the return of $70 million to Sky shareholders in November 2022 and is based on the Board's belief that Sky's shares are underpriced.
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