Introduction to Articore Group's buy-back program announcement

Articore Group Limited (Articore or the Group) has announced the commencement of an on-market share buy-back program with a maximum value of up to $5 million for a period of up to 12 months. The Group's cash position as of 31 March 2024 was $37.1m with no debt, and it remains on track to deliver its FY24 guidance, including the objective to achieve positive underlying cash flow for FY24.

Executive commentary on the buy-back program

Articore Group Chair Anne Ward stated, 'After stabilising the business and returning to profitability, the buyback is an effective capital management initiative that reflects the improvement in our financial position and confidence in the Group's future performance. The Group remains focused on delivering profitable revenue growth. We reiterate our FY24 guidance including our objective to deliver positive underlying cash flow this financial year.'

Summary of Articore Group's buy-back program and outlook

Articore Group Limited has initiated an on-market share buy-back program with a maximum value of up to $5 million, reflecting the Group's confidence in its financial position and future performance. The Group aims to achieve positive underlying cash flow for FY24 and remains focused on delivering profitable revenue growth. The buy-back program will be conducted in accordance with ASX Listing Rules, and the Group reserves the right to suspend or terminate it at any time. The announcement reaffirms the Group's commitment to efficient capital management and its strategic objectives for the financial year.