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Paragon Care Unveils Nearly AU$11 Million Share Buyback; Shares Up 8%

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Paragon Care (ASX:PGC) said it would undertake an on-market buyback of up to 82.8 million shares, alongside plans for its employee share trust to acquire up to 23.9 million shares to support its employee incentive plan, according to a Wednesday Australian bourse filing.

The buyback would cost around AU$10.8 million, based on the AU$0.13 closing price on Tuesday, per the filing.

The proposed program will start on Oct. 1 and run until Oct. 1, 2027, the filing said.

The company's shares jumped nearly 8% in recent Wednesday trade.

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