Strategic Capital Management: 360 Capital Group (ASX:TGP) Launches Off-Market Buy-Back Program

April 15, 2025 02:19 PM AEST | By Team Kalkine Media

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Strategic Capital Management: 360 Capital Group (ASX:TGP) Launches Off-Market Buy-Back Program — Image source: Shutterstock

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Highlights

360 Capital Group announces off-market buy-back

Offer priced at $0.65 per security

Represents 15.4% of total securities on issue

360 Capital Group (ASX:TGP) has unveiled plans for an off-market buy-back initiative aimed at enhancing capital efficiency and providing liquidity to its investors. The company will buy back up to 32,567,446 securities, which equates to approximately 15.4% of its total ordinary securities currently on issue. This initiative reflects the Group’s proactive approach to managing its capital structure while offering eligible securityholders an exit opportunity at a premium price.

The buy-back will be conducted at a fixed price of $0.65 per security. This offer presents a notable uplift of 15% over the last closing price, along with a 9.2% premium compared to the 10-day volume-weighted average price. However, it is priced at a 17.7% discount to the net asset value (NAV) as of 31 December 2024, signaling a potentially attractive transaction for those looking to realise returns relative to recent market levels.

The offer will open on Thursday, 24 April 2025, and remain available until 5:00pm (Sydney time) on Wednesday, 14 May 2025. Investors eligible to participate are encouraged to review the terms and consider the implications in the context of their portfolio and financial goals. Applications must be submitted via the designated buy-back election form by the closing deadline.

360 Capital Group (TGP) has committed to funding the buy-back entirely through its existing cash reserves, which currently stand at $86.9 million. This indicates a strong balance sheet position and the Group’s confidence in maintaining operational flexibility following the transaction.

Securityholders can access the full details of the offer, including eligibility criteria and application instructions, by visiting the Group’s website or reaching out to its investor relations team. A detailed explanatory Booklet has been made available to support decision-making throughout the process.

This buy-back is consistent with 360 Capital Group’s ongoing strategy to optimise shareholder value and manage capital efficiently. Through initiatives such as this, the Group continues to align its financial decisions with broader market conditions and investor expectations.

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