Key points
- Board approval for on-market share buy-back of up to $30 million
- Buy-Back provides flexibility to acquire shares at attractive prices
- Program reflects strong balance sheet and confidence in long-term growth
- Buy-Back does not alter growth ambitions or investment strategy
Full summary
Mader Group Limited (ASX: MAD) has announced its Board's approval for an on-market share buy-back program of up to $30 million. The Buy-Back aims to provide Mader with flexibility to acquire shares when the Board believes the prevailing share price does not reflect the underlying value of the business. The program reflects the Group's strong balance sheet, cash flow generation, and confidence in its long-term growth outlook. Importantly, the Buy-Back does not alter Mader's growth ambitions or investment strategy. Mader remains focused on deploying capital into high-return organic growth opportunities and pursuing suitable inorganic opportunities as they arise. The Buy-Back is expected to commence following the expiry of the applicable statutory notice period and will operate for up to 12 months, unless completed, varied, suspended, or terminated earlier.
Guidance
None
Outlook
None