Radius Care finishes share buyback program, cancels 1.5m shares

Radius Residential Care (Radius Care) has finalized its on-market share buyback program, acquiring 1,551,429 ordinary shares at an average price of $0.3306 cents per share. All purchased shares were subsequently cancelled. The program, announced on December 18, 2024, aimed to buy back up to 2,000,000 shares, relying on a Takeovers Code exemption for shareholders owning over 20%.

Kade Kings Limited, Radius Care's largest shareholder and an entity linked to executive chair Brien Cree, has divested 0.52% of its holdings to ensure compliance with the Takeovers Code exemption. Kade Kings currently has no further intention to sell additional Radius Care shares beyond this requirement.

The company's board may consider future share buyback programs, aligning with its Capital Management Framework. Radius Care, founded in 2003, operates 24 aged care facilities across New Zealand and recently acquired a 51% stake in Cibus Catering in October 2024.