Kingston Properties Limited (KPREIT) has advised that its Board of Directors has authorized a buy-back of up to 0.5% of the Company’s shares in issue for up to two years following the expiry of 21 days from the date of this notice to the Stock Exchange.
KPREIT further stated, “The Board of Directors sees this use of capital as an opportunity to enhance shareholder value through the purchase, from time to time, of undervalued shares. The repurchase of the shares will be done using the Company’s cash flows and will be conducted on the open market through the Company’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.”
