XTALPI Authorizes Up to $1 Billion for Share Repurchases in Open Market

Stock News06-09 12:31

XTALPI (ASX: 02228) has announced a significant share repurchase initiative.

Following a board resolution on June 9, 2026, the company will, subject to market conditions, utilize up to a total of $1 billion to buy back its own shares in the open market.

This repurchase plan is authorized under a share buyback mandate approved by shareholders on May 20, 2026.

The program is scheduled to run from June 10, 2026, until the conclusion of the company's next annual general meeting, when the authorization lapses, or until the mandate is revoked or amended by shareholders in a general meeting.

Under the approved mandate, the company is permitted to repurchase up to 10% of its total issued shares as of the date of the Annual General Meeting on May 20, 2026, equating to a maximum of 430 million shares.

The company expressed confidence that this repurchase plan demonstrates its positive outlook on business prospects and will ultimately benefit the company and create value for shareholders.

The board believes the company's current financial resources will allow it to execute the buyback while maintaining a sound financial position.

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