Resimac Group initiates strategic buy-back

Resimac Group (ASX:RMC) has unveiled plans for an on-market buy-back of its ordinary fully paid securities. The company aims to buy back up to 10 million of its 400 million issued securities. The buy-back will commence on December 11, 2024, and conclude by December 10, 2025, facilitated by Bell Potter Securities Limited.

Resimac Group's buy-back strategy and future outlook

Resimac Group has announced a new on-market buy-back program, aiming to purchase up to 10 million of its ordinary securities. This decision, not requiring security holder approval, signals a strategic maneuver to potentially manage capital structure and offer value to shareholders. The buy-back, set to run from December 2024 to December 2025, will involve Bell Potter Securities Limited as the broker. While the exact purchase price remains undisclosed, the buy-back will be conducted in Australian dollars. Resimac Group's choice to proceed without needing additional permissions indicates compliance with current regulations, showcasing confidence in their strategic direction and financial stability.

Executive insights on buy-back decision

The buy-back is a strategic move to optimize our capital structure and potentially enhance shareholder value. It reflects our confidence in the company's future prospects and market conditions.