Aim-listed Sylvania Platinum intends to conduct a share buyback on-market to buy ordinary $0.01 shares of the company’s issued share capital, up to a maximum consideration of $10-million.
The purpose of the share buyback is to reduce the share capital of the company.
The share buyback will be done under the terms and authority of the company’s by-laws and all ordinary shares bought will be cancelled.
Sylvania has instructed Liberum Capital to execute the share buyback, including its irrevocable appointment to purchase shares with absolute discretion during any closed period.
The share buyback will be funded from the company’s current cash balance.