Veris Limited Renews On-Market Share Buy-Back Program

Veris Limited ( (AU:VRS) ) has shared an announcement.

Veris Limited has announced the renewal of its on-market share buy-back program, allowing the company to repurchase up to 10% of its fully paid ordinary shares over the next 12 months. This strategic move aims to leverage the company’s strong net cash position and optimize capital allocation in response to current market conditions, potentially enhancing shareholder value. The buy-back will be conducted under the ’10-12 limit’ of the Corporations Act, with Morgans Financial Ltd appointed as the broker. This initiative reflects Veris’s flexibility in capital management and its commitment to adapting to market dynamics.

More about Veris Limited

Veris Limited (ASX:VRS) is a fully integrated digital and spatial data advisory and consulting firm. It provides end-to-end spatial data and digital solutions to tier-1 clients in key industry sectors such as Transport, Buildings & Property, Energy & Resources, Defence, Utilities, and Government. The company operates nationally across Australia, offering services that include spatial data collection, hosting, sharing, analytics, insights, and modelling, alongside survey, planning, consulting, and advisory services. Veris is committed to providing a safe work environment and improving employment opportunities for Australia’s indigenous population.

YTD Price Performance: 32.65%

Average Trading Volume: 281,008

Technical Sentiment Signal: Buy

Current Market Cap: A$33.65M

For an in-depth examination of VRS stock, go to TipRanks’ Overview page.