Sygnus Credit Investments Limited (SCI) has advised that 2,400,000 JMD Ordinary shares were purchased on March 19, 2024 (settlement date March 21, 2024), as part of the Company’s Share Buy-Back Programme. The amounts purchased are as follows:
The Company further advises as follows:
- The purpose of the purchase – To enhance shareholder value
- The maximum intended repurchase – The approved share buyback is up to US$9 million of SCI’s JMD and USD ordinary shares
- Total Shares Purchased: As at March 21, 2024, the total number of shares repurchased amounts to 136,525 USD Ordinary Shares and 4,878,274 JMD Ordinary Shares, equivalent to approximately US$433,000.00. This is inclusive of the units previously repurchased in June 2023.
- The effective date of the purchase – Per the table above
- The source of funding of the purchase – The Company’s cash flows
- The method of effecting the purchase – The shares were repurchased on the open market via our brokers
