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Article: Austereo unveils $45m share buyback plan.(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- March 22, 2005
- Author:
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Mar 21, 2005 (The Age - ABIX via COMTEX)
Australian radio broadcaster, Austereo, is preparing to undertake a $A45 million share buyback. On 21 March 2005, the company notified the Australian Stock Exchange that it intends to reacquire 6.6 per cent of its ordinary shares at $A1.69 each. However, Austereo claims the move will not prevent it from taking part in industry consolidation if media ownership laws are relaxed after 1 July. Austereo claims the buyback will raise its gearing to approximately 25.9 per cent.
Publication Date: 22 March 2005
AUSTEREO GROUP ...