It said it intends to immediately start the repurchase of up to $30m worth of the company’s US-listed shares as a first tranche in the program.
The repurchases would be funded using cash on hand, cash from operations or borrowings under the company’s existing credit facilities.
PACD said purchases may be started, suspended or discontinued at any time between now through to 20 May 2016 as authorized at the EGM.
Shares
