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Buildmax plans R28.8m share repurchase deal
The repurchase is subject to the necessary regulatory approval and the approval by shareholders at a general meeting on 16 October 2012‚ it added.
Buildmax will utilise its own cash resources for the repurchase. The shares purchased will be utilised for purposes of its Long Term Incentive Plan (LTIP) and the balance will be held as treasury shares.
Subsequent to the specific repurchase‚ Buildmax will have 192.5 million treasury shares‚ it added.
Source: I-Net Bridge
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