Recce Pharmaceuticals updates selective buy-back of performance shares

Recce Pharmaceuticals Ltd (ASX:RCE) announced an update to its selective buy-back program, now scheduled for October 7, 2025. This modifies the previous buy-back date, initially notified as October 8, 2024. The buy-back specifically targets 8,754,423 Class B Performance Shares, representing the total number of such securities currently on issue and proposed to be bought back.

The company plans to pay AUD 0.00001000 per security in cash for the buy-back. This action is contingent upon security holder approval via a special resolution, with the meeting anticipated on November 6, 2024. The selective capital reduction, which involves the cancellation of shares, requires this special resolution approval from the Class B Performance Shareholders.

The company also noted that the milestone events attached to the Class B Performance Shares have not yet been achieved, and none of these shares have been converted into ordinary shares. There are no restrictions on foreign participation in the buy-back.