The latest update is out from Metarock Group Limited ( (AU:MYE) ).
Mastermyne Group Limited has announced a buyback offer for shareholders holding unmarketable parcels of shares, defined as holdings valued at less than $500. This initiative aims to help small shareholders sell their shares without incurring costs and to reduce the company’s administrative expenses by streamlining its share registry. Approximately 38% of the company’s 1,501 shareholders hold such parcels, and the buyback will involve up to 827,728 shares. The shares acquired will be canceled, and the buyback is expected to lead to cost savings and reduced administrative burdens.
More about Metarock Group Limited
Mastermyne Group Limited is a mining services business specializing in underground operations.
YTD Price Performance: -12.79%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €25.89M
For detailed information about MYE stock, go to TipRanks’ Stock Analysis page.