Technology One (ASX:TNE) said Pacific Custodians, the trustee for its employee share trust, is set to acquire 1.4 million of the company's ordinary shares on-market, according to a Thursday filing with the Australian bourse.
The trust can start the purchases after three business days at a price that does not exceed the volume weighted average share price by more than 5%, per the filing.
The company's shares fell 1% in recent Thursday trade.
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