On-Market Buy-Back

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Stock Atturra Ltd (ATA.ASX)
Release Time 9 Apr 2025, 4:12 p.m.
Price Sensitive Yes
 Atturra Announces On-Market Buy-Back
Key Points
  • Atturra to undertake an on-market share buy-back program for up to 10% of issued capital
  • Buy-back to commence on or around 29 April 2025 and be completed within 12 months
  • Atturra has significant financial capacity to pursue its core strategy, including M&A
Full Summary

Atturra Limited (ASX:ATA), a leading advisory and technology solutions provider, has announced that it intends to undertake an on-market share buy-back program for up to 10% of its issued capital. The buy-back will commence on or around 29 April 2025 and will be completed within 12 months, unless extended. Any shares purchased under the buy-back will be cancelled, reducing the number of shares on issue. The Board believes that an on-market share buy-back is prudent capital management, given the recent reduction in Atturra's share price. After taking into account the planned buy-back, Atturra will continue to have significant financial capacity to pursue its core strategy, including the M&A strategy, in line with the company's stated growth targets and its capital management. Atturra has over $98m in cash/cash equivalents and undrawn debt facilities exceeding $35m, and has been operationally cash flow positive for every reporting period since listing in December 2021. The final size and timing of the buy-back will depend on various factors, including market conditions, the company's prevailing share price, future capital requirements, and any future unforeseen developments or circumstances. Morgans Financial Limited has been appointed as the broker to carry out the buy-back on Atturra's behalf.