Stanmore Coal Initiates On-Market Share Buy-Back

Summary by 6ix AI

Stanmore Resources Ltd has announced an on-market share buy-back as part of its capital management strategy, intending to buy back a portion of its fully paid ordinary shares. The buy-back aims to strengthen the company's capital position and reflects the Board's confidence in the value of its assets. The buy-back period will start two weeks after this announcement and will last for up to one year, with shares purchased being cancelled. Morgans Financial Limited will act as the transaction broker for this buy-back initiative.

Written by 6ix AI from the company’s filing. How 6ix writes summaries