Regal Investment Fund Extends Buy-Back Program Until 2025
RF1 (RF1) Share Update July 2024 Wednesday 24th
Regal Investment Fund Extends Buy-Back Program
Regal Investment Fund (ASX: RF1) has announced an extension to its existing on-market buy-back program, aiming to repurchase additional ordinary units until July 2025.
Instant Summary:
- Extension of existing buy-back program.
- On-market buy-back of ordinary units fully paid.
- Buy-back period extended until July 2025.
- Shaw & Partners Limited appointed as broker.
- Buy-back conducted within the 10/12 limit.
Details of the Buy-Back Extension
Regal Investment Fund (ASX: RF1) has announced an extension to its existing on-market buy-back program, which will now run until July 24, 2025. The fund initially notified the market of its buy-back intentions on July 11, 2023, and has since decided to continue the program.
The buy-back involves the repurchase of ordinary units fully paid, with Shaw & Partners Limited appointed as the broker to facilitate these transactions. The buy-back will be conducted within the 10/12 limit, allowing the fund to buy back up to 10% of its units within a 12-month period.
Buy-Back Details
The total number of securities on issue for the buy-back is 188,699,187 units. The buy-back will be executed for cash consideration, with payments made in Australian Dollars (AUD). The fund has not set a minimum or maximum number of securities to be bought back, providing flexibility in its approach.
The buy-back does not require security holder approval, allowing the fund to proceed without additional administrative hurdles. The Responsible Entity reserves the right to suspend or terminate the buy-back at any time without notice.
Key Dates
The extended buy-back program is set to commence on July 25, 2024, and will continue until July 24, 2025. Investors should note these dates as they consider the potential impact on their holdings.
The extension of Regal Investment Fund's buy-back program is likely to have a positive impact on the company's stock price. Buy-backs generally signal confidence in the company's future prospects and can provide support to the stock price by reducing the number of shares available in the market. This move may also be seen as a commitment to returning value to shareholders, which could enhance investor sentiment.
Investor Reaction:
Analysts and investors have generally reacted positively to the announcement. The extension of the buy-back program is viewed as a strategic move to support the stock price and demonstrate confidence in the fund's long-term value. Some investors have expressed optimism about the potential for increased returns as a result of the buy-back.
Conclusion:
Investors should keep an eye on the progress of the buy-back program and consider its potential impact on their investment strategies. The extension of the buy-back program until July 2025 provides an opportunity for Regal Investment Fund to continue supporting its stock price and returning value to shareholders. Staying informed about further updates and market reactions will be crucial for making well-informed investment decisions.