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BRIEF-Boral Announces Intended On-Market Buy-Back

Published 01/04/2021, 12:39 pm
Updated 01/04/2021, 12:42 pm
© Reuters.
BLD
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April 1 (Reuters) - Boral Ltd BLD.AX :

* BORAL LTD - SALE OF USG BORAL AND INTENDED ON-MARKET BUY-BACK-BLD.AX

* BORAL LTD - INTENTION TO UNDERTAKE AN ON-MARKET SHARE BUY-BACK

* BORAL LTD - EXPECTS TO REPORT A PROFIT ON SALE AFTER TAX OF ABOUT A$450 MILLION AS A RESULT OF DIVESTMENT OF ITS 50% SHARE OF USG BORAL

* BORAL - FINAL SALE PROCEEDS OF A$1.33 BILLION WILL BE USED TO REDUCE BORAL'S NET DEBT POSITION FROM A$1.9 BILLION TO BORAL'S TARGETED NET DEBT OF $1.5 BILLION

* BORAL LTD - INTENDS TO BUY BACK UP TO 10% OF SHARES ON ISSUE, OR APPROXIMATELY 122 MILLION SHARES, OVER NEXT 12 MONTHS

* BORAL LTD - BUY-BACK WILL BE FULLY FUNDED FROM SALE PROCEEDS

* BORAL LTD - BORAL WILL CONTINUE TO ASSESS OPTIONS TO DISTRIBUTE ANY ADDITIONAL SURPLUS CAPITAL

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