Vmoto to Delist from Australian Bourse, Launch Off-Market Share Buyback; Shares Hit Six-Year Low

MT Newswires Live

2024/12/17

Vmoto (ASX:VMT) plans to delist from the Australian Securities Exchange subject to shareholder approval, according to a Monday filing with the Australian bourse.

Shareholders will decide at an extraordinary general meeting proposed for early March 2025, the filing stated.

The electric scooter manufacturer also plans to undertake an off-market share buy-back of up to about 39.5 million shares at AU$0.12 apiece, providing shareholders with an opportunity to potentially exit the company before the delisting.

The buy-back plans to start on Dec. 24 and end on Jan. 31, 2025, and is not conditional on the approval of delisting by shareholders, the filing added.

Shares of the company fell 33% to its lowest since late 2019.

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