Mitchell Services Limited announces an Equity Buyback for 19,923,874 shares, representing 10% of its issued share capital.
March 11, 2020 at 03:00 am EDT
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Mitchell Services Limited (ASX:MSV) announces a share repurchase program. Under the program, the company will repurchase up to 19,923,874 shares, representing 10% of its issued share capital. The shares will be repurchased at a price no more than 5% above the volume weighted average share price of the Company’s shares over the 5 days of prior trading before the purchase is made. The purpose of the program is capital management. The repurchased shares will be cancelled. The program is valid till March 29, 2021. As of March 11, 2020, the company has 199,238,740 shares in issue.
Mitchell Services Limited is an Australia-based company that is engaged in providing exploration and mine site drilling services to the exploration and mining industries. The Company provides drilling solutions at all stages of the mining lifecycle, in both the energy and minerals sectors. Its various stages of the mining lifecycle for which the Company provides drilling services, including greenfield exploration, project feasibility, mine site exploration and resource definition, development, and production. Its geographical areas include Queensland, South Australia, New South Wales, Western Australia, Victoria and Northern Territory. The Companyâs wholly owned subsidiaries include Notch Holdings Pty Ltd, Notch No. 2 Pty Ltd, Mitchell Services Share Plan Pty Ltd and Radco Group Australia Pty Ltd.
MITCHELL SERVICES LIMITED 
