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An update from Locate Technologies Limited ( (NZ:LOC) ) is now available.
Locate Technologies Limited has launched an on-market share buyback programme on the NZX Main Board, targeting up to NZ$500,000 or a maximum of 14,882,192 ordinary shares over a period of up to 12 months, with purchases made at prevailing market prices. The board says the move reflects its view that the current share price undervalues the company’s assets and growth prospects, and expects the buyback, funded from existing cash reserves, to be accretive by enhancing per-share metrics, increasing remaining shareholders’ proportional holdings through share cancellation, and signalling confidence in ongoing investment across its Locate2u, Zoom2u, and Shred2u units.
More about Locate Technologies Limited
Locate Technologies Limited is an AI-powered delivery and logistics technology company listed on New Zealand’s NZX. It operates Locate2u, a route optimisation and delivery management platform used by fleet operators, retailers, and logistics providers globally, and Zoom2u, an Australian on-demand courier and delivery marketplace, alongside Shred2u and a Bitcoin treasury reserve strategy.
Average Trading Volume: 14,322
Technical Sentiment Signal: Strong Sell
Current Market Cap: N$15.36M
See more insights into LOC stock on TipRanks’ Stock Analysis page.