@beefsoup and CoFrom the announcement 28th February 2019
On-market share buy-back BINGO announces that the Board has approved the implementation of an on-market buy-back of up to $75 million of its ordinary shares. As foreshadowed in BINGO’s half year results announcement, BINGO’s strong balance sheet together with the current trading value of BINGO shares supports the buy-back as a capital management initiative.
The buy-back is expected to commence on 15 March 2019 and will
end 12 months from the date of this announcement. The buy-back will be conducted within the “10/12 limit” in accordance with the Corporations Act 2001 (Cth). The timing and number of shares purchased under the on-market buy-back will be contingent on Bingo’s share price and prevailing market conditions. Bingo reserves the right to vary, suspend or terminate the on-market buyback at any time and there is no guarantee that Bingo will purchase shares under the on-market buy-back. Further details about the on-market buy-back are set out in the Appendix 3C that follows this announcement.
