Intention to commence on-market share buyback in early 2022
MARKET ANNOUNCEMENT
16 November 2021
Intention to commence on-market share buyback in
early 2022
AUCKLAND, 16 November 2021: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) advises
that with a clearer business outlook and the successful completion of the sale of GrabOne per
NZME’s 2023 strategy, NZME intends to undertake an on-market share buyback of up to $30
million to commence in early 2022.
NZME CEO Michael Boggs said: “NZME's balance sheet is in a strong position, with net debt
having been reduced to zero, well below our target net debt range. This has allowed the Board
to support a distribution of up to $30 million to shareholders, with an on-market buyback being
the most effective method.”
Further details and the required disclosure statement will be provided to shareholders before
the end of the year.
NZME looks forward to updating further on its performance and strategy at its Investor Day on
Thursday 18 November 2021.
ENDS
Authorised by the Board of NZME Limited.
For further information:
David Mackrell
Chief Financial Officer
T: +64 21 311 911
Email: david.mackrell@nzme.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- NZL — New Zealand Rural Land Company Limited: Annual Shareholders Meeting – Presentation2021-12-15
“27 NEW ZEALAND RURAL LAND COMPANY Prior to undertaking our Initial Public Offering (IPO) last year, the directors adopted a Capital Management Policy for NZRLC. This policy, together with our other corporate governance policies, is available on our website at www.nzrlc.co.nz.…”
- MEL — Meridian Energy Limited: Share buyback in connection with the FY22 LTI scheme2021-11-17
“Release M e r i d i a n E n e r g y L i m i t e d ( A R B N 1 5 1 8 0 0 3 9 6 ) A c o m p a n y i n c o r p o r a t e d i n N e w Z e a l a n d L e v e l 2 , 5 5 L a d y E l i z a b e t h L a n e , P O B o x 1 0 8 4 0 , W e l…”
- MEL — Meridian Energy Limited: Meridian completes FY22 LTI Share Buyback2021-11-29
“Stock Exchange Listings NZX (MEL) ASX (MEZ) M e r i d i a n E n e r g y L i m i t e d ( A R B N 1 5 1 8 0 0 3 9 6 ) A c o m p a n y i n c o r p o r a t e d i n N e w Z e a l a n d L e v e l 2 , 5 5 L a d y E l i z a b e t h L a n e , P O…”