Ibex Limited Repurchases Shares Owned by TRGI

Details of the Transaction

WASHINGTON, Nov. 19, 2024 (GLOBE NEWSWIRE) — IBEX Limited (“ibex”, or “the Company”) (Nasdaq: IBEX), a leading global provider of business process outsourcing (BPO) and AI-powered customer engagement technology solutions, today announced that it repurchased an aggregate of 3,562,341 of the Company’s common shares beneficially owned by The Resource Group International, Limited (“TRGI”), which represents approximately 20% of the diluted shares outstanding. These shares were unregistered and were not part of the public float. The purchase price was $19.65 per share, which was the last closing price, as well as the five-day volume weighted average trading price, for ibex common shares on the Nasdaq Global Market. The total transaction consideration is $70 million consisting of $45 million in cash and $25 million in seller financing. Subsequent to this transaction, Ibex will have a proforma net debt position of approximately $9 million based on Ibex’s most recently released balance sheet dated September 30, 2024.

Impact on Individuals

As a shareholder of Ibex Limited, this repurchase may affect the value of your shares. With a significant number of shares being repurchased, the stock price may experience fluctuations in the short term. It is important to closely monitor the market and consider the implications of this transaction on your investment portfolio.

Global Implications

The repurchase of shares by Ibex Limited has broader implications for the global business landscape. This transaction demonstrates the company’s commitment to optimizing its capital structure and enhancing shareholder value. It also reflects Ibex’s confidence in its financial position and future growth prospects, which could potentially attract new investors and drive further market interest in the company.

Conclusion

In conclusion, Ibex Limited’s repurchase of shares from TRGI is a strategic move that carries both individual and global significance. Shareholders should stay informed about market developments, while the business community at large may witness increased attention towards ibex as a result of this transaction. It will be interesting to see how these actions shape the company’s trajectory going forward.