Cromwell Property Group
(ASX:CMW) has extended its on-market buy-back period until 19 January 2018.
The company says it will buy back a maximum of 174,770,435 (around 175 million) securities, which is 10% of its current issued capital.
The company says it wants to maintain maximum flexibility with regards to capital management strategies in the current economic climate, particularly in times of “heighted market volatility”.
However, Cromwell says it may end the buy-back period earlier if that maximum number of stapled securities is bought back, or if it simply decides to end the buy-back.
Cromwell posted a net profit of $329.6 million at 30 June 2016.
