Iress announces extension of buy-back

Iress has announced an extension of its existing on-market buy-back program which was announced in July last year to purchase up to $100 million of ordinary paid shares.

In the announcement made to the Australian Securities Exchange (ASX), the firm said the buy-back period would end on 28 July 2022 and, to date, $70 million in shares had been purchased through the program.

Iress also said that the buy-back period would now continue until the buy-back program was completed and reserved the right to suspend or terminate the program at any time.

“The timing and actual number of shares purchased under the buy-back, and other matters relating to the conduct of the buy-back, will depend on the prevailing share price, market conditions, forecast future capital requirements and other considerations including any unforeseen circumstances,” the company said in the announcement.

“There can be no certainty that Iress will purchase all of the up $100 million of ordinary shares announced under the buy-back.”