Jumbo Group to buy back 10% of shares at 26 cents each

The Straits Times01-21

SINGAPORE - At the company’s annual general meeting held on Jan 19, Jumbo Group’s shareholders approved the renewal of its share buyback mandate. In a bourse filing, the food and beverage player said ...

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THE BUSINESS TIMES. Jumbo sees 52% jump in second-half profit to $6.7 million. Jumbo opens first franchised seafood outlet in Cambodia","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6000":"餐馆","BK6505":"周期性消费品与消费者服务","42R.SI":"珍宝餐饮集团"},"translate_title":"珍宝集团将以每股26美分的价格回购10%的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"42R.SI":1},"content_text":"SINGAPORE - At the company’s annual general meeting held on Jan 19, Jumbo Group’s shareholders approved the renewal of its share buyback mandate.\nIn a bourse filing, the food and beverage player said that it will offer 26 cents in cash per share to buy back up to 10 per cent of the company’s 643,658,465 shares in issue.\nThe offer represents a 6.1 per cent discount to the average market price of the company’s shares over the last five market days before the offer was announced.\n\n\n\n\nUnder the equal access offer, each shareholder can accept to sell to the company up to 10 per cent of their shares.\n\nIt added that up to 7.5 million of the shares bought back will be held or dealt with as treasury shares, while the remainder will be cancelled.\nInternal resources will be used to finance the $16.7 million required to purchase shares under the equal access offer, the company said.\n\n\n\n\nFor the year ended Sept 30, 2023, the company posted a net profit of $14.6 million, reversing a net loss of $91,000 over the same period a year earlier.\n\n“The equal access offer provides shareholders who find it difficult to sell down a substantial portion of the shareholdings in the company as a result of the low trading volume in the shares with an opportunity to liquidate and realise their investment in the shares,” said Jumbo.\n\n“This is an option which may not otherwise be readily available due to the low trading liquidity of the shares.”\n\nShares of Jumbo closed up 1.8 per cent, or 0.5 cent, to 28 cents on Jan 19, before the announcement was made. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nJumbo sees 52% jump in second-half profit to $6.7 million  \n\n\n\n \n\nJumbo opens first franchised seafood outlet in Cambodia","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2405862379"}