Jupiter confirms $25m distribution through share buyback

Jupiter Mines on Monday announced an off-market equal access share buyback, effectively returning $25-million to its shareholders through an offer to buy back 4% of their shares for $0.29 apiece. The buyback will be funded from a R250-million cash distribution loan repayment from Tshipi é Ntle Manganese Mining and from R100-million of operating profits earned by the company’s manganese marketing business.