Compumedics Ltd (ASX:CMP) will undertake an on-market buy-back of up to 4 milllion fully-paid ordinary shares.
The scheme, which kicks off on August 29 and will run for up to 12 months, is part of a strategy to add value to Compumedic's existing shares amid concerns the share price does not reflect the company's underlying asset value.
Ultimately, the timing and number of shares to purchase will be subject to market conditions, but the board has stated the move will not affect operations.
Over last financial year, Compumedics racked up $45.6 million in sales orders and maintained a strong cash position.
Read: Compumedics delivers record sales orders of $45.6 million for FY22
CMP has also advised shareholders that there can be no certainty it will acquire any or all shares under the buy-back scheme.
About Compumedics
Compumedics is a medical device company involved in the development, manufacture, and commercialisation of diagnostics technology for sleep, brain and ultrasonic blood flow monitoring applications.
It owns US-based Neuroscan and Germany's DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including the Americas, Australia and the Asia Pacific, Europe and the Middle East.