Community & Workers of Jamaica Cooperative Credit Union Limited (C&WJCCUL) wishes to advise that its Board of Directors has authorized a buy-back of up to ten percent (10%) of the Company’s 7.35% Deferred shares in issue for up to the maturity date of the Deferred Share issue, following the expiry of 21 days from the date of this notice to the Stock Exchange. The effective date of the notice is November 12, 2021.
The Board of Directors of C&WJCCUL sees this use of capital as an opportunity to enhance Member’s value through the purchase, from time to time, of undervalued Deferred Shares. The repurchase of the Deferred Shares will be done using the Credit Union’s cash flows and will be conducted on the open market through the Credit Union’s stockbrokers. A fixed price for the repurchase will not be set, however, the price for the acquisition of the shares will be the market price at the time of repurchase. The Credit Union reserves the right to decline any offer above the ceiling that the Credit Union may from time to time determine in its sole discretion.