On 21 February 2013, we announced our audited financial results for the 52 week period ended 28 December 2012. In that announcement, we were pleased to be able to report record revenues of $1,025.4million and underlying profit of $55.4 million (IFRS profit of $51.2 million). At the end of this financial period, the Company had cash resources of $333.3 million, notwithstanding the return of $285 million to shareholders via a tender offer which was completed in November 2012.
Given the strength of our financial position, our confidence in future prospects and our focus on delivering returns to shareholders, the board of directors of the Company is proposing to undertake a buyback of the Company’s shares of up to $50 million (the “Proposed Buyback”).
At a general meeting held on Thursday 14 March 2013, shareholders approved a general authority for the Proposed Buyback by way of a special resolution.
A copy of the announcement of the results of the general meeting is available in the link below.
A copy of the announcement of the arrangements for a buy back is available in the link below
A copy of the Circular and Form of Proxy are available by clicking on the links shown below.