In an ASX listing, the firm said the buyback has now been completed with $99,999,991.47 in shares purchased through the program.
“In total, 9,094,178 shares have been acquired over the course of the buyback at a volume weighted average price of $10.996 per share,” the firm said.
Iress’ buyback was originally due to end in July but having bought only $70 million in shares at the time, the firm decided to extend the program.
“The timing and actual number of shares purchased under the buyback, and other matters relating to the conduct of the buyback, will depend on the prevailing share price, market conditions, forecast future capital requirements, and other considerations including any unforeseen circumstances,” Iress said at the time.
“There can be no certainty that Iress will repurchase all of the up to $100 million of ordinary shares announced under the buyback.”
Last year, Iress explained that the buyback was to be funded from its existing cash and committed debt facilities.
“Iress will maintain a strong balance sheet following completion of the buyback and the Iress board will continue to assess the merits of this capital management plan as market conditions evolve, as well as to assess options to distribute any additional surplus capital.”
