Nuplex keeps buyback programme suspended until August earnings announcement

Wednesday 1st July 2015

Nuplex Industries, the specialty chemicals maker, won't resume a share buyback programme until after it reports annual earnings in mid-August.

The Auckland domiciled company suspended the programme last month, adopting a new policy where it won't buy shares on market while directors have board papers in the lead-up to their regular meetings. Nuplex today said it will keep the suspension in place until after the release of its 2015 full year result, which is expected on Aug. 14.

Earlier this year, Nuplex decided to buy back 5 percent of its shares on issue after a series of asset sales helped reduce the firm's debt and strengthen the balance sheet.

The shares fell 1 percent to $4.16, and have soared 41 percent this year, making it the third best performer on the S&P/NZX All Index.

BusinessDesk.co.nz

Comments from our readers

No comments yet