Peet to Buy Back Up to 2.68 Million Shares Over Next Year

Peet Limited Continues Capital Management Strategy

Peet Limited (ASX, PPC), a prominent player in the Australian property development sector, has confirmed an extension of its on-market share buy-back program. This move follows the company’s ongoing efforts to manage capital efficiently and enhance shareholder value. The announcement, made on 6 August 2025, reveals that Peet has a remaining quota of 2,677,424 ordinary fully paid shares to acquire under the original buy-back limit set in 2018.

Details of the Buy-Back Extension

The buy-back will be conducted on-market through UBS Securities Australia Limited, the appointed broker responsible for executing the transactions. The program is scheduled to commence on 2 September 2025 and will run until 1 September 2026, providing a full year for Peet to complete the remaining purchases. Notably, the company has not disclosed the exact price at which shares will be bought back, only confirming that payments will be made in Australian dollars.

No Shareholder Approval Required

Importantly, the continuation of this buy-back does not require shareholder approval, which suggests confidence from the board in the program’s alignment with shareholder interests. Since the original buy-back announcement in 2018, Peet has already acquired 21,821,603 shares, indicating a significant commitment to returning capital to shareholders or optimizing its capital structure.

Flexibility and Market Impact

Peet has reserved the right to suspend or terminate the buy-back at any time, reflecting a prudent approach to market conditions and company strategy. This flexibility allows the company to respond to changing economic or operational circumstances without being locked into a rigid schedule. For investors, the buy-back program may signal management’s belief that the shares are undervalued or that reducing the number of shares on issue will improve earnings per share metrics.

Looking Ahead

As the buy-back progresses, market participants will be watching closely for any updates on pricing or changes to the program’s scope. The extension underscores Peet’s ongoing focus on capital management amid a dynamic property development environment, where strategic financial decisions can have a meaningful impact on shareholder returns.