Melbourne - Ansell's (ANN:ASX) 5 million share on-market buy-back program, which commenced on 24 April 2008, is being closed as its 12 month term expires on 23 April 2009.
During its life, 800,124 shares were bought back on the ASX, the Company having indicated in August 2008, that it had a preference for accumulating cash for acquisitions over further share buy-backs.
This view has not changed. Ansell continues to believe that attractive acquisition opportunities could become available and that having a strong balance sheet to take advantage of these would be preferable.
However, Ansell also believes that, especially in today's volatile environment, it would be appropriate for the Company to have the capital management flexibility of having an approved on-market share buy-back program in place.
Ansell is today announcing a new 2.5 million share on-market buy-back program, but is also re-iterating that the first priority will be to continue to accumulate cash.
FOR MORE INFORMATION
Media Contacts
Mr Wouter Piepers
Global Communications Director
Phone +32 2 528 74 00
Fax +32 2 528 74 01
Mr Peter Brookes
Citadel PR (Australia)
Phone + 61 0407 911 389
Investor Relations Team
Mr David Graham
General Manager Finance & Treasury
Phone +61 3 9270 7215
Fax +61 3 9270 7300
Mr Rustom Jilla
Chief Financial Officer
Phone + 1 732 345 5359
Fax + 1 732 219 5114