Investor Centre – Share Buyback

Boustead Projects’ Share Buyback Mandate (Mandate) was approved by shareholders at an Extraordinary General Meeting held at the beginning of FY2017 and has been renewed annually ever since then. The Mandate authorises our purchase of shares according to the terms of the Mandate.

The rationale for our purchase of shares is as follows:

  • To provide greater flexibility in managing capital and maximising return to shareholders. To the extent that we have capital and surplus funds which are in excess of our financial needs, taking into account our expansion and growth plans, the Mandate will facilitate the return to shareholders of surplus funds in a cost-efficient, effective and expedient manner;
  • To improve our return on equity, thereby increasing shareholder value;
  • To exercise control over our share structure with a view to enhance earnings per share and/or net tangible asset value per share;
  • To mitigate short-term market volatility in our share price, offsetting the effects of short-term speculation and bolstering shareholders' confidence; and
  • To enable our Board to utilise shares purchased and held as Treasury Shares to be sold for cash, transferred as consideration for acquisitions or issued to team members as a form of compensation, which may be less dilutive than if new shares were issued for this purpose.

We will only purchase shares pursuant to the Mandate if it can benefit us and our shareholders. No purchase of shares will be made in circumstances which would have or may have a material adverse effect on our liquidity and capital adequacy position as a whole and/or affect our listing status on the SGX. It should be noted that there is no assurance that the Mandate will achieve the desired effects and that such effects, if achieved, can be sustained in the longer term.

Purchase Date Number of Shares Purchased Price Paid per Share (S$) Number of Treasury Shares Held after Purchase Number of Issued Shares Held after Purchase (Excluding Treasury Shares)
12 Mar 2018 5,628,300 0.800 11,093,855 308,906,145
9 Mar 2018 5,338,100 0.800 5,465,555 314,534,445
13 Feb 2018 77,000 0.880 127,455 319,872,545
8 Jan 2018 27,700 0.880 50,455 319,949,545
11 Aug 2017 60,000 0.845 – 0.870 377,800 319,622,200
10 Jul 2017 18,000 0.900 317,800 319,682,200
30 May 2017 50,000 0.855 – 0.860 299,800 319,700,200
23 May 2017 50,000 0.850 – 0.860 249,800 319,750,200
20 Apr 2017 20,000 0.860 199,800 319,800,200
19 Apr 2017 18,200 0.855 – 0.860 179,800 319,820,200
18 Apr 2017 11,600 0.855 – 0.860 161,600 319,838,400
17 Apr 2017 50,000 0.860 150,000 319,850,000
3 Apr 2017 60,000 0.850 100,000 319,900,000
31 Mar 2017 40,000 0.860 – 0.865 40,000 319,960,000