- WAM Alternative Assets (WMA) has cancelled their on-market share buyback program, effective immediately
- Following the renewal of the on-market share buyback program in May 2020, WAM successfully joined the Wilson Asset Management family of listed investment companies
- Since transitioning to Wilson Asset Management, the share price discount to net tangible assets of the company has reduced by 26.3 per cent
- The on-market buyback program resulted in around 20.7 million shares being bought back for roughly $16.9 million
- Shares are in the grey, last trading at $1.02 per share
WAM Alternative Assets (WMA) has cancelled their on-market share buyback program.
WAM Alternative Assets, managed by Wilson Asset Management, provides retail investors with exposure to a portfolio of real assets, private equity, real estate and infrastructure.
The on-market buyback program was for 20,734,766 shares at $0.82 per share for $16,960,216.
The cancellation is effective immediately. Following the renewal of the on-market share buyback program in May 2020, WAM successfully joined the Wilson Asset Management family of listed investment companies.
Since transitioning to Wilson Asset Management, the share price discount to net tangible assets (NTA) of the company has significantly reduced. The share price discount to the 31 January 2021 NTA was 7.4 per cent — a 26.3 per cent reduction from the 30 June 2020 discount of 33.7 per cent.
The relative discount change appears to the be the main reason for the cancellation.
Wilson Asset Management invests more than $3.5 billion in undervalued Australian and global growth companies on behalf of 90,000 shareholders.
The company currently has 193,829,724 ordinary shares on issue.
Shares are in the grey, last trading at $1.02 at 1:35 pm AEDT.