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Company News Summary

Platinum Asset Management Announces Buy-Back

12 Sep 2017  |  16:20:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Announcement of buy-back - Appendix 3C

Platinum Asset Management (PTM) announced its intention to extend its on-market share buy-back for up to 10% of the Company's issued share capital for a further period of up to 12 months commencing from 4 October 2017. The Company will buy-back up to 58,667,890. The purpose of extending the share buy-back period, is to enable the Company, as part of its ongoing capital management policy, to buy-back its shares should the PTM share price trade at a significant discount to its underlying value. The buy-back will commence from 4 October 2017 and will end on 3 October 2018. The Board considers that the share buy-back program is in the interests of all existing shareholders. The Company has appointed Credit Suisse Equities (Australia) to act as its broker.

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