Mobilicom Shares Gain After It Shares Buyback Plans

  • Mobilicom Limited MOB shared plans to undertake a share buyback of small parcel holdings (holdings of Mobilicom shares listed on the Australian Securities Exchange (ASX).
  • The sale facility will allow those shareholders who hold less than A$500 of shares to sell their shares without incurring brokerage or other transaction costs.
  • Also Read: Why Mobilicom Shares Are Trading Higher Today
  • Following Mobilicom's listing on the Nasdaq stock exchange in the U.S. and with A$19 million cash on its balance sheet as of Dec. 31, 2022, it undertook a strategic and operational review and decided to further strengthen its efficient capital management and shareholder value through steps including this share buyback.
  • Mobilicom is an end-to-end provider of cybersecurity and robust solutions for drones, robotics & autonomous platforms. 
  • Price Action: MOB shares traded higher by 7.78% at $1.80 on the last check Wednesday.
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