The shareholders of Majedie Investments PLC (LSE:MAJE) authorized a share repurchase program at its Annual General Meeting on January 16, 2013. Under the program, the company will repurchase up to 7,873,947 shares, representing 14.99% of the issued share capital. The minimum price which may be paid for such shares is 10p per share, and the maximum price which may be paid for such shares shall not be more than the higher of an amount equal to 105% of the average market ... value of a share for five business days prior to the date of the market purchase and the higher of the price of the last independent trade and the highest current independent bid as stipulated. The company is hereby authorized for the purpose of Section 166 of the Companies Act 1985, to make market purchases as defined in Section 163 of the said Act. Unless previously renewed or revoked, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting of the company in 2014, or after 18 months form this repurchase program. As of September 30, 2012, the company had 52,528,000 shares in issue.
Read More

Sponsored Financial Commentaries

To contact MAJEDIE INVESTMENTS PLC-ORD, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.