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National plaintiff law firm Slater & Gordon (ASX: SGH) has been approved to undertake an on-market share buy-back of up to $500 million over the next 12 months.
Slater & Gordon (ASX: SGH) has secured approval for an on-market share buy-back program to repurchase up to $500 million of its ordinary shares, to be conducted over the next 12 months.
In a statement, the national law firm shared the buy-back reflects a “disciplined approach to capital management”, supported by sustained operating cash flow and a continued reduction in debt levels over recent periods.
The news comes after Slater & Gordon was acquired by a subsidiary of Australian private equity firm Allegro Funds, resulting in its removal from the official ASX list in early 2023.
Following the transaction, the small number of shares not acquired through the takeover were compulsorily acquired, and Slater & Gordon became an unlisted public company and a subsidiary of Allegro Funds.
At the time, the firm’s directors said they “unanimously support” the offer made by Allegro, and recommended shareholders accept the proposal in the absence of a superior offer and subject to independent expert advice.
“The board has carefully considered the offer and concluded the value and certainty provided greater benefit to shareholders than retaining their shares,” the firm said in a market announcement.
The national law firm stated that the scale of the buy-back has been structured to “not constrain” its ability to continue investing in its businesses or pursuing inorganic growth at scale.
Slater & Gordon also indicated that it intends to “retain sufficient balance sheet capacity” and “financial flexibility” to support both organic investment and potential acquisitions as they arise.
The buy-back is scheduled to commence after the firm’s blackout period ends, expected on or about 11 August 2026, following the release of its FY26 financial results.
As it currently stands, the final amount of the buy-back and the timing of any trades “will depend on several factors”.
The firm stated that these include prevailing market conditions, its share price at the time, future capital requirements, and any unforeseen changes in business or economic conditions during the buy-back period.
Further details of the buy-back are set out in an Appendix 3C lodged with the ASX this week.
