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Investments prompt share buyback to be scaled back

27 April 2005 |Media centre

Bendigo Bank today said it would scale back its on-market share buyback program following two significant investments announced during April:

  • The purchase of five per cent of the shares in Select Managed Funds, announced on 1 April, and
  • The purchase of Oxford Funding Pty Ltd announced today.

Bendigo Bank had previously announced it would buy back up to five million of its 135.6 million listed ordinary shares.

It will now buy back up to 2.85 million of its listed ordinary shares.

The buyback is being managed by Macquarie Securities.

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