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Joy City Property Ltd confirmed that its proposed share buy-back scheme has been sanctioned by the court without any modifications. The stock exchange has approved the withdrawal of its listing, effective from 27 November. The approval reflects compliance with all regulatory and legal requirements, allowing the company to proceed with the share repurchase. This move is consistent with a broader trend among companies returning value to shareholders and managing equity efficiently. The court's sanction and listing withdrawal are key steps in executing the buy-back plan.
Joy City Property Ltd has confirmed that its proposed share buy-back scheme received full sanction from the court without any modifications. The company also stated that the stock exchange has approved the withdrawal of its listing, effective from 27 November. The scheme specifically relates to the planned repurchase of Joy City Property's shares. Advertisement
The company highlighted that the court's approval came after reviewing the buy-back proposal in detail, and no changes were required, indicating full compliance with regulatory and legal requirements. This follows a period of preparation and filings with both the court and the stock exchange, ensuring the process met all necessary standards. The withdrawal of listing marks a significant step in executing the buy-back plan, allowing the company to manage its capital structure efficiently.
Joy City Property's announcement aligns with earlier reports that companies in the region have increasingly opted for share repurchase schemes as a tool to return value to shareholders and streamline equity holdings. The company's share buy-back comes amid a market environment where investors are closely watching corporate capital management moves.
Source Reuters
5th Jun, 2025
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