Wise Logistics Public Company Limited or WICE, a fully integrated international logistics service provider, reveals that the WICE board has given the green light to invest 170 million baht, preparing to repurchase no more than 13 million shares in the market, representing a proportion of 2% of the total number of shares sold, start D-Day from 19 Jan. to 18 Jul. ’23 in order to build confidence among shareholders and investors. Including managing financial liquidity and increasing the rate of return for shareholders. reinforces its strong financial position
Mr. Chudech Kongsunthorn Managing Director Business Development Department, WICE Logistics Public Company Limited or WICE, a fully integrated international logistics service provider, revealed that at the Board of Directors Meeting (Board) No. 1/2023 on the 12th January 2023 Approved the share repurchase project for financial management purposes. In the amount not exceeding 170 million baht, the number of shares repurchased is no more than 13 million shares, representing no more than 2.0% of the total number of shares sold. which will be purchased through the stock exchange by automatic matching method with a period of time to complete not more than 6 months or from 19 January 2023 – 18 July 2023
The criteria for buying back shares The average share price of the past 30 days from the date the company will disclose the information is taken into account in determining the share price. The share price to be repurchased will not exceed 115% of the average closing price of 5 trading days prior to the share repurchase date. The average closing price of shares for the past 30 working days from December 9, 2022 to January 10, 2023 is 10.15 baht per share (the average closing price for the past 30 working days).
For the purpose of this share repurchase In order to build confidence with investors or shareholders of the company. Both in terms of the potential to generate income and profit in the future. Including the management of excess liquidity of the company. for maximum benefit And increase the return on equity (ROE) and increase the earnings per share (EPS) to make the stock price more stable. It also reinforces the strong financial position of the company in another way.
