COM7 Jumps 4% after the Initiation of Share Repurchase Program

On Friday at 10:06 AM (Bangkok time), the share price of Com7 Public Company Limited (SET: COM7) grew by 4.57% or THB 0.80 to THB 18.30, with a trading value of THB 119.68 million.

During the Board of Directors meeting on June 27, 2024, COM7 announced the approval of a Shares Repurchase Project (Treasury Stock) aimed at financial management purposes. The project, with a limit not exceeding THB 800 million, allows for the repurchase of up to 45,000,000 shares at a par value of THB 0.25 per share. This amount is equivalent to a maximum of 1.9 percent of the total paid-up capital of the company, which stands at 2,399,998,265 shares. The repurchase project is scheduled to take place from July 1 to December 31, with the company required to complete the process within 6 months.

As of 31 March 2024, COM7 has cash, and cash equivalent in the amount of THB 1,001 million. The company expects that there will be net cash inflows from selling products and services, including other income after deducting debts which will be due within 6 months as a net amount of THB 1,636 million. Therefore, the company still has sufficient liquidity to repay the company’s debts that will be due within 6 months from the date of the repurchased shares and sufficient to be used in the share repurchase according to the project.