McMillan Completes the Market Buy-Back; Fetches 14 per cent Discount From the Market Price

  • Oct 14, 2019 AEDT
  • Team Kalkine

McMillan Shakespeare Limited (ASX: MMS) completes $80 million Off-Market Buy-Back.

  • The size of the buy-back stood at $80,016,442.62.
  • The market price at which company stood at $15.9742 and MMS completed the buy-back at $$13.74, which represented a 14 per cent discount.
  • The company accepted a priority allocation of 365 Shares from each successful shareholder; the balance of tendered Shares have been scaled back by 40.89%.
  • If as a result of the Priority Allocation and the scale back percentage a shareholder would be left with a parcel of 145 shares or less (Small Residual Holding), these Shares will also be bought back.
  • MMS has requested a Class Ruling from the Australian Tax Office (ATO) in relation to the tax implications of the Buy-Back.

 

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