Thorney Opportunities Ltd extends on-market share buy-back program

Thorney Opportunities Ltd (ASX: $TOP) has announced the extension of its on-market share buy-back program for an additional 12 months, from 11 March 2024 to 10 March 2025. The company plans to conduct the Extended Share Buy-Back within the '10/12' limit permitted by the Corporations Act 2001 (Cth) and intends to acquire a maximum of 12,954,226 shares.

Executive Commentary on Share Buy-Back Extension

The TOP Board continues to use various strategies to narrow the share price discount to NTA, and the extension of the on-market share buy-back program is part of this effort. The Company aims to fund the Extended Share Buy-Back from existing cash reserves. The Directors have decided not to participate in the Extended Share Buy-Back. The number of shares purchased, purchase prices, and timing of any purchases will be dependent on the Company's share price and market conditions. The Company also reserves the right to vary, suspend, or terminate the Extended Share Buy-Back at any time.

Summary of Thorney Opportunities Ltd Announcement

Thorney Opportunities Ltd (ASX: $TOP) has extended its on-market share buy-back program for 12 months, aiming to narrow the share price discount to NTA. The Company plans to acquire a maximum of 12,954,226 shares within the '10/12' limit permitted by the Corporations Act 2001 (Cth). The Directors have chosen not to participate in the Extended Share Buy-Back, and the Company intends to fund it from existing cash reserves. The number of shares purchased, purchase prices, and timing of any purchases will be subject to the Company's share price and market conditions. Thorney Opportunities Ltd also retains the right to vary, suspend, or terminate the Extended Share Buy-Back at any time.