Appendix 3C: On market share buyback
MMJ Group Holdings Limited (ASX: MMJ) (MMJ or the Company) is pleased to announce an on-market buy-back of up to 10m MMJ ordinary shares over the next 12 months (‘buy-back’) as part of its active approach to capital management.
In managing its investment portfolio and asset allocation, the Company is continually monitoring its investments and new investment opportunities in the Cannabis sector. Understanding the portfolio and noting the discount that the Company’s shares are trading to the net asset value per share of its investment portfolio, the Board have determined that an on-market buyback of MMJ shares is a meaningfully value accretive use of its funds.
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