10 Apr 2012

Smiths City buys back shares

7:30 am on 10 April 2012

Smiths City has bought back almost 265,000 shares at an average price of 49 cents each.

The shares, which represent almost half a percent of its register, will now be cancelled.

The listed retailer told investors in August that those who held fewer than 1000 shares had to increase their shareholding, or it would buy the stock off them.

NZX listing rules require shareholders to hold at least 1000 shares when a company's share price is between 25 and 50 cents.