Creative technology company, Enero Group, has announced to the ASX today that it will give additional value back to its shareholders by conducting an on-market Buy Back of its ordinary shares.
Enero Group’s agencies include BMF, Hotwire, Orchard , BMedia and CPR.
Ann Sherry, Enero Group chair, said: “Enero’s current share price does not accurately reflect our strong financial success, performance, and the underlying value of Enero Group’s assets. The Buy Back represents an opportunity to add value to the remaining shares on issue.”
“Enero remains committed to a strategy that accelerates growth and shareholder returns, with specific capital management initiatives including the Buy Back.”
In addition, Enero Group CEO Brent Scrimshaw (lead image), who has led Enero Group’s worldwide operations for the past three years, has had his contracted extended by the Board for a further three years.
Since Scrimshaw joined the creative technology company three years ago, Enero Group has delivered a structural and financial transformation increasing its net revenue by 61 per cent, growing its EBITDA by 119 per cent, and expanding its EBITDA margin by seven percentage points.
Speaking of Scrimshaw’s tenure at Enero, Sherry said: “Since joining Enero in July 2020, Brent has led a significant transformation of the Group across its people, portfolio, and financial performance. The Board are very pleased to extend his contract as the Enero Group CEO for an additional three-year term.”
“Enero is dedicated to providing a market-leading integrated offering that delivers the most modern and relevant marketing services in growing global verticals and industries. The execution of this strategy has delivered remarkable results over the past three years as we’ve continued to transform the Enero business. Looking ahead, I am incredibly excited to continue our sustained growth trajectory, momentum, and commitment to the ongoing transformation of our business around the world,” said Scrimshaw.
