Kolibri Global Energy (TSE:KEI) has released an update.
Kolibri Global Energy Inc. has announced its plan to buy back up to 1,786,798 of its common shares, representing about 5% of its total issued and outstanding shares, in a normal course issuer bid approved by the Toronto Stock Exchange. The repurchase will occur over a one-year period starting September 23, 2024, with the aim of cancelling the shares, and the decision to buy back will depend on market conditions and the use of available corporate funds. The company believes this action will benefit shareholders as the current market price does not reflect the company’s underlying value.
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