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BRIEF-Moelis Australia To Buyback 8 Mln Shares From M&C At $3.40 Per Share

Published 03/09/2019, 08:48 am
Updated 03/09/2019, 08:50 am
© Reuters. BRIEF-Moelis Australia To Buyback 8 Mln Shares From M&C At $3.40 Per Share

Sept 3 (Reuters) - Moelis Australia Ltd MOE.AX :

* TO UNDERTAKE SELECTIVE SHARE BUYBACK FROM MOELIS & COMPANY OF 5.1% OF ISSUED SHARES

* IN CONJUNCTION WITH BUYBACK, M&C HAS SOLD 12.5 MLN MOE SHARES AT $3.40 PER SHARE

* TRUSTEE OF ONE OF PRE−IPO OWNERSHIP TRUSTS SOLD AN ADDITIONAL 3.35 MILLION SHARES TO PUBLIC MARKET INVESTORS AT $3.40 PER SHARE

* BUYBACK CONSIDERATION AND SHARE PLAN PURCHASE WILL BE FUNDED FROM MOE'S EXISTING CASH HOLDINGS

* BUYBACK WILL PROVIDE EXPECTED EPS ACCRETION OF APPROXIMATELY 5% ON A FULL YEAR BASIS TO CO

* M&C SOLD 12.5 MLN MOE SHARES AT $3.40 PER SHARE TO PUBLIC MARKET INVESTORS AND MOELIS AUSTRALIA EMPLOYEE SHARE TRUST

* MOELIS AUSTRALIA TO BUY 8 MLN MOE SHARES FROM M&C VIA SELECTIVE BUYBACK AT $3.40 PER SHARE Source: Further company coverage: MOE.AX

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