Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Axelum board approves up to P500-M share buyback plan

by
September 25, 2024
in Top News
0
Axelum board approves up to P500-M share buyback plan
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

AXELUM Resources Corp., a listed coconut product manufacturer and exporter, said its board has approved a share buyback program aimed at enhancing shareholder value.

The buyback program will run for six months, commencing on Wednesday, Sept. 25, and concluding on March 24 of the following year, the company said in a regulatory filing on Wednesday.

“The board of directors may, at its discretion and upon management’s recommendation, extend the period by another six months to end on Sept. 24, 2025,” Axelum said.

Axelum’s board authorized the company to buy back up to P500 million worth of common shares.

“Such amount may be increased from time to time by the board of directors as the circumstances may warrant and subject to the availability of unrestricted retained earnings,” Axelum said.

“The actual number of shares to be included in the buyback program cannot as yet be determined as this will depend on the total buy back price of the shares,” it added.

Axelum said its capital structure remains undetermined, as the number of shares to be repurchased will depend on the buyback price.

The buyback program will be conducted in the open market through the Philippine Stock Exchange.

“The buyback program shall be implemented in an orderly manner and should not adversely affect the company’s and its subsidiaries’ prospective and existing projects,” Axelum said.

For the first half, Axelum saw a P208.16-million net income, a reversal of the P125.97-million net loss in the same period last year.

Revenue during the period increased by 14% to P3.22 billion from P2.82 billion a year ago due to the strong volume growth of its white meat business including desiccated coconut, coconut milk powder, and sweetened coconut.

On Wednesday, Axelum shares were unchanged at P2.26 apiece. — Revin Mikhael D. Ochave

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post

How Microsoft Philippines is shaping AI adoption

Recommended

Historic Plan Unveiled to Support Male Survivors of Gender-Based Violence

Historic Plan Unveiled to Support Male Survivors of Gender-Based Violence

November 22, 2024
Wesley Howard Triani: A Lifelong Commitment to Financial Planning and Personal Growth

Wesley Howard Triani: A Lifelong Commitment to Financial Planning and Personal Growth

October 30, 2024
Oil Markets Buckle Under Tariff Pressure, Recession Fears Tank Prices

Oil Markets Buckle Under Tariff Pressure, Recession Fears Tank Prices

April 9, 2025
How Shoshana Leffler Makes STEM Come Alive for Students

How Shoshana Leffler Makes STEM Come Alive for Students

October 20, 2024
Trade figures reveal UK’s challenge to boost economic growth

Trade figures reveal UK’s challenge to boost economic growth

November 28, 2024
PHL digital banks told to offer targeted products, boost scale to be profitable

PHL digital banks told to offer targeted products, boost scale to be profitable

October 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved