5 Apr 2012

Share buy-back by Zintel

9:02 am on 5 April 2012

Zintel Group plans to return up to $5.4 million to shareholders though a share buy-back.

The telecommunications firm recently sold an Australian subsidiary and says returning capital to shareholders is appropriate because it is not looking for new acquisitions.

It is offering to buy one share for every 5.1 shares held by shareholders and will pay 50 cents for every share sold in the buy-back.

Each share acquired by Zintel will be cancelled immediately following its acquisition.