Yesterday after market, Region Group (ASX: RGN) announced an extension of its on-market securities buy-back, increasing its support for shareholders with $33.1 million of shares already purchased so far.
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What did Region Group report?
- Extension of on-market buy-back for up to $100 million of RGN securities
- Buy-back period extended to 21 April 2027 (unless completed or terminated earlier)
- 14.4 million securities bought back to date at an average price of $2.298 per security
- Total value of securities bought back to date: $33.1 million
- Buy-back supports capital management and portfolio optimisation
What else do investors need to know?
The buy-back is being undertaken in line with the "10/12" rule of the Corporations Act 2001, ensuring regulatory compliance while affording flexibility. Region Group says the timing and number of shares bought back will depend on prevailing market conditions and share price.
This initiative aims to optimise the portfolio and maintain the company's capacity to fund ongoing capital requirements and future growth opportunities. Investors can view more details in the accompanying Appendix 3C released to the ASX.
What's next for Region Group?
Region Group remains focused on its strategy of ongoing portfolio optimisation and disciplined capital management. The continuation of the buy-back provides scope to support the share price while retaining capacity for growth initiatives.
Investors will be watching to see how Region Group balances returning funds to shareholders through buy-backs with investing in future developments and acquisitions.
Region Group share price snapshot
Over the past 12 months, Region Group shares have risen 5%, slightly trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.
