Bigblu Broadband plc ( (GB:BBB) ) has shared an announcement.
Bigblu Broadband plc announced a proposed return of up to £6.1 million to shareholders following the completion of the sale of its Australian subsidiary, SkyMesh. The company received AUD$30 million in cash from the sale, which allowed it to repay its debts and consider returning surplus cash to shareholders. The return will be conducted through a Tender Offer to purchase up to 15,250,000 Ordinary Shares at a premium price, representing a significant portion of the company’s issued share capital. This move is part of a broader strategy to optimize capital structure and provide value to shareholders.
More about Bigblu Broadband plc
Bigblu Broadband plc is a leading provider of alternative super-fast and ultra-fast broadband services. The company focuses on delivering broadband solutions in areas where traditional infrastructure may be lacking, enhancing connectivity for underserved regions.
YTD Price Performance: -18.84%
Average Trading Volume: 45,859
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £16.48M
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