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On 22 February 2017 Coca-Cola Amatil ("'Amatil", "the Company" ASX:CCL) announced it had established an on-market share buyback program ("the buyback program") for shares up to the maximum aggregate amount of $350 million.
The buy-back program commenced in April 2017 and will remain in place for up to 12 months or until all the funds have been utilised. The number of shares and timing of purchase will be dependent on Amatil's share price and market conditions. Based on Amatil's closing share price of $9.91 on 21 February 2017, this buyback would equate to approximately 4.6 per cent of the Company's issued capital.
The buyback program will not impact Amatil's existing dividend policy. After completion of the buyback, Amatil will retain a very strong balance sheet with the capacity to fund further strategic initiatives. Further information on the buyback is available in the ASX Announcements linked from this page.