Fosrich Company Limited (FosRich) has advised that the Company repurchased 4,264,687 FosRich shares as outlined in the file attached below
The Company further advises as follows:
- The purpose of the purchase – To enhance shareholder value and to provide a pool of shares for team members.
- The company has a budget for a further 2,400,000 shares in the current year which is subject to review.
- The effective date of the purchase – Per file attached.
- The source of funding of the purchase – The Company’s operational surpluses.
- The method of effecting the purchase – On the open market through our Stock Broker. The shares are held in a discreet segregated JCSD account in the name of the company.
- The company has maintained the minimum issued capital and satisfy the requirements regarding the minimum number of shareholders as specified in Rule 402(A) and 402(B) to remain listed on the Exchange.
