FAT PROPHETS GLOBAL CONTRARIAN FUND LTD (ASX: FPC) has officially notified the market of its intention to commence an on-market share buy-back program. The investment fund, which is known for its strategy of identifying undervalued global assets through a contrarian investment approach to deliver long-term capital growth, made the new announcement on 1 May 2026. This strategic move signals the company’s plan to repurchase its own shares directly from the market, aiming to return value to its shareholders. The buy-back is slated to commence on 18 May 2026 and is scheduled to conclude almost a year later, on 17 May 2027.
The buy-back program will specifically target the company’s ordinary fully paid shares, identified by the ASX security code FPC. At the time of this announcement, the total number of ordinary shares currently on issue for FAT PROPHETS GLOBAL CONTRARIAN FUND LTD stands at 28,172,481. Importantly, the company has indicated that it does not intend to buy back a predetermined minimum or maximum number of securities, allowing for flexibility in its execution based on market conditions throughout the specified period.
Financial services firm Ord Minnett has been appointed as the exclusive broker to facilitate and execute the on-market buy-back on behalf of FAT PROPHETS GLOBAL CONTRARIAN FUND LTD. The company has confirmed that the consideration for the securities bought back will be paid in cash, specifically in Australian Dollars (AUD). Furthermore, the announcement explicitly states that the proposed buy-back does not necessitate security holder approval, enabling a more direct implementation of this capital management initiative. The year-long timeframe provides a structured window for the fund to carry out its repurchase program.
