Smart Parking Limited (ASX:SPZ) today informed the market that its Board of Directors has given approval for an on-market share buy-back of up to $5 million of its ordinary fully paid shares. This strategic financial manoeuvre is designed to return capital to shareholders. Smart Parking Limited is a pioneering technology innovator and services company in the parking industry, with operations spanning Australia, New Zealand, Germany, Denmark, the UK, and the USA. The Company operates and manages thousands of car park spaces globally using its proprietary Smart Cloud technology linked with Automatic Number Plate Recognition/License Plate Recognition (ANPR/LPR) systems, offering integrated parking and payment solutions.
The proposed buy-back will be managed strictly within the ‘10/12 limit’ allowed under the Corporations Act. This specific provision means that the company is not required to seek formal shareholder approval for the programme. The on-market share acquisition is scheduled to commence on 1st September 2026 and is planned to continue for a period of up to 12 months, in accordance with the terms outlined in the relevant ASX Notification of buy-back.
Smart Parking intends to conduct the buy-back with careful consideration for the prevailing share price, current market conditions, and any unforeseen circumstances that may influence its execution. The company has also advised all shareholders that there is no absolute certainty that it will acquire any or all of the shares encompassed by this announced share buy-back program. This measured approach underscores the company’s commitment to prudent capital management.
