Karoon Energy Ltd ( (AU:KAR) ) has issued an update.
Karoon Energy Ltd has announced the approval of the first phase of a US$75 million on-market share buyback, involving the repurchase of up to 20.8 million shares valued at approximately US$22 million. This decision follows the company’s strategy to enhance shareholder value by capitalizing on what the Board perceives as an undervaluation of Karoon shares. The buyback is part of a broader capital allocation framework aimed at maintaining capital discipline, ensuring strong liquidity, and maximizing shareholder returns. The completion of this phase, along with a planned additional buyback of US$53 million, will bring the total investment in share repurchases to US$125 million by the end of 2025, contingent upon market conditions and compliance with credit agreements.
More about Karoon Energy Ltd
YTD Price Performance: 15.20%
Average Trading Volume: 4,221
Technical Sentiment Signal: Buy
Current Market Cap: $786M
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