TAH - Third Age Health Services

[percy]

Third Age Health announces on-market share buyback
19/08/2024, 08:30 NZST, CORPACT
19 August 2024

Third Age Health announces on-market share buyback programme

In accordance with Listing Rule 4.14.2 and 4.14.1(a), Third Age Health Services Limited (NZX:TAH) announces it’s intention to commence an on-market share buyback programme to purchase up to 5% of its ordinary shares.

The Board of Third Age Health believes that the strength of its business model and cash flow generation allows the company to continue investing for the long term, while also paying a dividend and opportunistically repaying debt or buying back shares, depending on market conditions. This programme reflects the Board’s view that the company’s shares are undervalued and demonstrates its confidence in the business and the long-term opportunities to grow intrinsic value per share.

The buyback may occur from 23 August 2024 for a period of up to 12 months from the date of this notice. The total number of shares that may be bought back shall not exceed 500,207 shares. The number of shares purchased under the buyback programme from time to time will be notified to the NZX within one business day following the date on which those shares are acquired. Shares will be cancelled upon acquisition and the number of shares on issue will reduce accordingly.

The buyback will be conducted in reliance on Clause 5 of the Takeovers Code (Class Exemptions) Notice (No 2) 2001 in respect of those shareholders owning greater than 20%.

The buyback programme will not run during any “Black-out Periods” (as described in the company's Financial Product Trading Policy).

[blackcap]

Third Age Health announces on-market share buyback
19/08/2024, 08:30 NZST, CORPACT
19 August 2024

Third Age Health announces on-market share buyback programme

In accordance with Listing Rule 4.14.2 and 4.14.1(a), Third Age Health Services Limited (NZX:TAH) announces it’s intention to commence an on-market share buyback programme to purchase up to 5% of its ordinary shares.

The Board of Third Age Health believes that the strength of its business model and cash flow generation allows the company to continue investing for the long term, while also paying a dividend and opportunistically repaying debt or buying back shares, depending on market conditions. This programme reflects the Board’s view that the company’s shares are undervalued and demonstrates its confidence in the business and the long-term opportunities to grow intrinsic value per share.

The buyback may occur from 23 August 2024 for a period of up to 12 months from the date of this notice. The total number of shares that may be bought back shall not exceed 500,207 shares. The number of shares purchased under the buyback programme from time to time will be notified to the NZX within one business day following the date on which those shares are acquired. Shares will be cancelled upon acquisition and the number of shares on issue will reduce accordingly.

The buyback will be conducted in reliance on Clause 5 of the Takeovers Code (Class Exemptions) Notice (No 2) 2001 in respect of those shareholders owning greater than 20%.

The buyback programme will not run during any “Black-out Periods” (as described in the company's Financial Product Trading Policy).

This is a good move, but with their very thinly traded stock, not sure how much they are realistically going to be able to buy back.

[nztx]

This is a good move, but with their very thinly traded stock, not sure how much they are realistically going to be able to buy back.

They seem to be going great guns however .. no stopping the quarterly dividend either