Jamaica News: Eppley Caribbean Property Fund Limited SCC (CPFV) has advised that the Company will be continuing its repurchasing of the Company’s shares in line with the existing Share Buyback Policy, which has been previously announced.
The Company intends to purchase up to an additional 1,000,000 shares on the open market from time to time using the Company’s cash from the same segregated account for the share buyback. The purpose of the share buyback is to unlock significant value for the Company’s shareholders by acquiring shares at a price equivalent to or below the Company’s Net Asset Value per Share. This is in keeping with the strategy previously disclosed in our prospectus and Annual Report, stated CPFV.
The Net Asset Value per share published in the most recent financial statements was Bds$0.69.
CPFV further stated that “In accordance with the rules of the Jamaica Stock Exchange regarding share repurchases, any purchases in excess of previous notification will take place following the expiration of 21 days from this notification and we will immediately provide you with the details of any purchases.”