Sygnus Credit Investments has approved a new US$4.5 million share buyback programme over the next three years.
The programme will run until June 2029 and allows the company to repurchase its Jamaican-dollar and US-dollar ordinary shares on the Jamaica Stock Exchange.
Sygnus says it may buy back shares when they are trading at a discount to their net asset value, or NAV, subject to market conditions, available liquidity and criteria approved by the Board.
The programme follows the company's first share buyback, which ran from June 2023 to June 2026.
During that period, Sygnus repurchased US$136,525 ordinary shares and J$10.27 million ordinary shares.
The company says the new programme reinforces its commitment to enhancing value for shareholders.
The share buyback programme is also in keeping with Sygnus's Articles of Association, which provide a framework for periodic invitations to shareholders to sell back their shares.
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