Calgro M3 Holdings Limited commences an Equity Buyback Plan for 20,640,414 shares, representing 20% of its issued share capital, under the authorization approved on June 29, 2023.

Calgro M3 Holdings Limited (JSE:CGR) commences share repurchases on June 29, 2023, under the program mandated by shareholders in the Annual General Meeting held on June 29, 2023. As per the mandate, the company is authorized to repurchase up to 20,640,414 shares, representing 20% of its issued share capital. The maximum price to be paid for repurchase should not exceed 10% of the weighted average of the market price for the shares for the five business days immediately preceding the date that the transaction is effected.

The authority will be valid till next Annual General Meeting of the company or at the end of the15 months, if earlier. As of June 29, 2023, the company had 122,096,518 issued shares including 18,894,449 treasury shares.