Entertainment company Village Roadshow Ltd
(ASX:VRL) has completed its on-market buy-back of ordinary shares and preference shares ahead of schedule.
The company says a total of 12.69 million ordinary shares and 45 million preference shares were acquired at a total cost of $105.1 million.
Chairman John Kirby says the company is very pleased with the positive response to the on-market buy-back which attracted significant interest from both ordinary shareholders and preference shareholders.
Mr Kirby says the buy-back is consistent with the company’s capital management objective of creating a more efficient and effective capital structure and maximising value for its shareholders.
Village says due to strong demand the buy-back period concluded earlier than scheduled.
Village Roadshow’s 2009 net profit was a long way off its high in 2008 of $256.8 million.
