Cromwell Property Group
(ASX:CMW) has extended its on-market buy-back as part of its ongoing capital management program.
The company says the buy-back period will now continue until 20 January 2017, unless Cromwell decides to cease the buy-back earlier in the event of the maximum number of staples securities being bought back.
Cromwell note that the buy-back has been extended in an effort to maintain flexible capital management strategies within the current economic climate.
The real estate investment manager said that no more than 174.8 million stapled securities will be bought back during the extended buy-back period, totalling approximately 10 percent of Cromwell’s current issued capital.
Cromwell Property Group recorded a net profit of $148.76 million at 30 June 2015.
