TPC: TPC to Undertake On Market Buy-back

TPC CONSOLIDATED LIMITED

• TPC Consolidated plans to undertake an on-market buy-back of up to 1.0 million listed ordinary shares, starting no earlier than 28 April 2023 for a duration of no longer than eight months.
• The buy-back is motivated by the TPC Board's belief that the current share price is materially below its intrinsic value, and will provide flexibility for capital management options.
• TPC will continue to explore growth options while ensuring that the buy-back arrangement benefits the shareholders, with the prices paid for shares purchased not exceeding 5% above the volume-weighted average price over the five trading days prior to purchase.

2023-04-05 16:45:00