2 May 2018
On-Market Share Buy Back
Metgasco Ltd (Metgasco or the Company) is pleased to announce that the Board has approved the implementation of an on-market share buyback of up to 10% of Metgasco’s ordinary shares for a period of 12 months commencing on 16 May 2018 (Buyback).
The Buyback will be conducted within the “10/12/limit” as defined in the Corporations Act 2001 (Cth) and does not require shareholder approval.
Metgasco will buy shares under the Buyback if the Board believes that the shares are trading below their intrinsic value and any decision to buy shares under the Buyback will be effected against the backdrop of existing market conditions, the trading range of the Company’s securities and capital priorities of the Company in respect of existing projects and new transactions. The Board believes that the Buyback is in the interests of all shareholders and is considered sound capital management.
Further details about the Buyback are set out in the enclosed Appendix 3C.
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Alexander Lang, Executive Chairman
Phone: +61 02 9923 9100