ANN 0.03% $33.06 ansell limited

News: ANN Ansell announces share buyback

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    May 25 (Reuters) - Ansell Ltd (ANN)

    • Has executed a binding agreement for sale of its sexual wellness business for us$600m
    • also announces a new on market share buy-back program for up to 10% of company's issued capital.
    • net after-tax cash proceeds to Ansell are expected to be approximately us$529m.
    • expects to realize a net profit after tax in order of us$365m, which is expected to be recorded in fy'18
    • sale of sexual wellness business to humanwell healthcare (group) and CITIC Capital China Partners III, L.P.
    • Will buy back up to 10% of issued capital or approximately 14.75m shares over next 12 months
    • Based on wednesday's closing share price of A$24.14, this would imply a buy-back of approximately us$265m
 
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