Notification of buy-back
Announcement Summary
For personal use only
Name of entity
MCGRATH LIMITED
Announcement type Update announcement
Type of update
Daily buy-back notification
Date of this announcement 2/5/2022
Reason for update
Daily buy-back notification
ASX Security code and description of the class of +securities the subject of the buy-back
MEA : ORDINARY FULLY PAID
The type of buy-back is:
On market buy-back
Total number of +securities bought back before previous day 1,426,845
Total number of +securities bought back on previous day 29,000
Refer to next page for full details of the announcement
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Notification of buy-backPart 1 - Entity and announcement details
For personal use only
1.1 Name of entity MCGRATH LIMITED
We (the entity named above) provide the following information about our buy-back.
1.2 Registration number type ABN
1.3 ASX issuer code MEA
1.4 The announcement is
Update/amendment to previous announcement
1.4a Type of update
Daily buy-back notification
1.4b Reason for update
Daily buy-back notification
Registration number 61608153779
1.4c Date of initial notification of buy-back 21/2/2022
1.4d Date of previous announcement to this update 29/4/2022
1.5 Date of this announcement 2/5/2022
1.6 ASX Security code and description of the class of +securities the subject of the buy-back MEA : ORDINARY FULLY PAID
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Notification of buy-back
Part 2 - Type of buy-back
2.1 The type of buy-back is:On market buy-back
For personal use only
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Notification of buy-back
Part 3 - Buy-back details
For personal use only
Part 3A - Details of +securities, price and reason
3A.1 Total number of +securities on issue in the class of +securities to be bought back
166,849,935
3A.4 Does the entity intend to buy back a minimum number of +securities
No
3A.5 Does the entity intend to buy back a maximum number of securities
Yes
3A.5a Maximum number of securities proposed to be
bought back
16,684,993
3A.6 Name of broker or brokers who will offer to buy back +securities on the entity's behalf
Broker name:
Wilsons Stockbroking and Advisory Limited
3A.9 Are the +securities being bought back for a cash consideration?
Yes
3A.9a Is the price to be paid for +securities bought back known?
No
3A.9a.1 In what currency will the buy-back consideration be paid?
AUD - Australian Dollar
Part 3B - Buy-back restrictions and conditions
3B.1 Does the buy-back require security holder approval?
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Notification of buy-back
No
For personal use only
Part 3C - Key dates
On-market buy-back
3C.2 Proposed buy-back start date 28/3/2022
3C.3 Proposed buy-back end date
28/3/2023
Part 3D - Other Information
3D.1 Any other information the entity wishes to notify to ASX about the buy-back
Given the high levels of cash reserves, the limited acceptable investment opportunities and the Company's current share price, the Board have announced an on-market Share Buy-Back program, allocating up to $2.5m for the Buy-Back.
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Mcgrath Ltd. published this content on 01 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 May 2022 22:46:05 UTC.