CIMIC’s current on‐market share buy‐back (announced on 14 December 2015) will end on 28 December 2016.
The
New Buy Back announced today will continue to improve shareholder
returns and enhance capital efficiency, while maintaining sufficient
balance sheet flexibility to pursue future growth and investment
opportunities.
The initiative again reflects CIMIC’s strong balance
sheet position, solid cash flow generation, and disciplined approach to
capital management.
The New Buy Back will be funded by a combination of CIMIC’s existing cash balances and working capital facilities.
It
will be within the ‘10/12 limit’ permitted by the Corporations Act 2001
(Cth) and therefore does not require shareholder approval.
The timing and number of shares purchased will depend on the CIMIC share price and market conditions.