Coventry Group buy-back announcement

Coventry Group Limited (ASX: $CYG) has announced a new on-market buy-back of its ordinary fully paid securities. The company intends to buy back a maximum of 11,679,081 securities out of the total 116,790,812 securities on issue in this class. Petra Capital will offer to buy back the securities on the entity's behalf. The buy-back is for cash consideration in Australian Dollar (AUD), and it is scheduled to commence on 4/9/2024 and end on 3/9/2025. No security holder approval is required for this buy-back.

Coventry Group's buy-back details

The announcement made by Coventry Group Limited (ASX: $CYG) regarding the on-market buy-back of its securities signifies the company's commitment to enhancing shareholder value. The decision to engage Petra Capital to facilitate the buy-back demonstrates our dedication to executing this initiative effectively. We believe that this buy-back will provide an opportunity to return capital to our shareholders and optimize the company's capital structure. We are confident that this strategic move will contribute to the long-term interests of our shareholders and the overall growth of Coventry Group Limited.

Summary of Coventry Group's buy-back announcement

Coventry Group Limited (ASX: $CYG) has announced a new on-market buy-back of its ordinary fully paid securities, with a maximum of 11,679,081 securities to be bought back out of the total 116,790,812 securities on issue in this class. The buy-back will be facilitated by Petra Capital and is set to commence on 4/9/2024 and conclude on 3/9/2025. This initiative reflects Coventry Group's commitment to enhancing shareholder value and optimizing its capital structure. The company aims to provide an opportunity to return capital to its shareholders and believes that this strategic move will contribute to the long-term interests of its shareholders and the overall growth of Coventry Group Limited.