A2 Milk completes share buyback

The a2 Milk Company has completed its on-market share buyback, which it launched in November. The company said it considered the buyback was the most appropriate form of capital management at the time and it was looking for a capital return of up to N$150 million.

A2MC acquired 21,680, 314 shares, representing 2.9 per cent of issued capital, which have now been cancelled. Total ordinary shares in the company are now 721,976,214.

The average price was NZ$6.87 per share, excluding brokerage costs.

As a result, a2MC has reduced its share capital in its Consolidated Statement of Financial Position and expects to report a share capital of around NZ$100,000 for FY23 - FY22 was NZ$149,157,000.