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Platinum Asset Management Announces Extension of On-Market Share Buy-Back

16 Sep 2020  |  18:33:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Extension of on-market share buy-back

Platinum Asset Management announced its intention to extend its on-market share buy-back for up to 10% of its issued share capital for a further period of up to 12 months commencing from 4 October 2020. The Company updated that it will be lodging a new Form 281 with ASIC, to ensure that sufficient notice of the buy-back is provided prior to 3 October 2020, the date of expiry of the current 12 month buy-back period. As reported, the purpose of extending the share buy-back period, is to enable the Company, as part of its ongoing capital management policy, to buy-back its shares should the share price trade at a discount to its underlying value. No target price has been set. The Company further updated that it has appointed Credit Suisse Equities (Australia) to act as its broker.

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