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The latest update is out from Thorney Opportunities Ltd. ( (AU:TOP) ).
Thorney Opportunities Ltd has extended its on-market share buy-back program for another 12 months from 11 March 2026 to 10 March 2027, with a maximum of 8,414,711 shares eligible to be repurchased and subsequently cancelled. The buy-back, which directors do not intend to participate in, will operate within the Corporations Act’s 10/12 limit, allowing it to proceed without shareholder approval and be adjusted, suspended or terminated at the company’s discretion.
The company will fund the extended buy-back from existing cash reserves as part of its strategy to narrow the discount between its share price and net tangible assets, a key concern for listed investment companies seeking to enhance shareholder value. The final scale, price and timing of purchases will depend on market conditions and TOP’s share price, potentially improving capital management and supporting the stock in the secondary market.
The most recent analyst rating on (AU:TOP) stock is a Buy with a A$0.76 price target. To see the full list of analyst forecasts on Thorney Opportunities Ltd. stock, see the AU:TOP Stock Forecast page.
More about Thorney Opportunities Ltd.
Thorney Opportunities Ltd is an ASX-listed listed investment company that targets absolute returns for shareholders over the medium to long term. It invests in listed and unlisted equities and financial assets across sectors including media, automotive, energy and pharmaceuticals, acting as a constructive catalyst to unlock value in its portfolio companies, and is managed by the Thorney Investment Group under a long-term agreement.
Average Trading Volume: 87,057
Technical Sentiment Signal: Buy
See more insights into TOP stock on TipRanks’ Stock Analysis page.