Nuplex keeps buyback programme suspended until August earnings announcement
The company suspended the programme last month.
Nuplex Industries [NZX: NPX], the specialty chemicals maker, won't resume a share buyback programme until after its 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 until after the release of its 2015 full year result, which is expected on August 14.
Earlier this year Nuplex decided to buy back 5% 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% to $4.16, and have soared 41% this year, making it the third-best performer on the S&P/NZX All Index.
(BusinessDesk)
Paul McBeth
Wed, 01 Jul 2015
Wed, 01 Jul 2015
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Nuplex keeps buyback programme suspended until August earnings announcement
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