LONDON (Alliance News) – VinaLand Ltd on Monday said it has purchased 1.3 million shares in the company under its share buyback programme at an average price of 77.1 cents each.
VinaLand bought the shares under its existing buyback authority. The average price implies the total paid for the shares was just over USD1.0 million.
VinaLand said it has spent a total of USD162.1 million by repurchasing 246.8 million shares in the company under the recent transaction as well as the USD40 million tender offer launched in May. Shares purchased have been cancelled and the 246.8 million shares represent 49.4% of its issued share capital prior to the buyback programme being launched.
VinaLand now has 253.2 million shares in issue.
VinaLand shares were up 2.5% on Monday afternoon at 79.0 cents per share.
By Joshua Warner; firstname.lastname@example.org; @JoshAlliance
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