Thorney Technologies Launches New On-Market Buy-Back of Up to 35,024,238 Ordinary Shares

Anjali Anand

06 November 2026 04:04 PM AEDT

Thorney Technologies Launches New On-Market Buy-Back of Up to 35,024,238 Ordinary Shares

Image Source: Krish Capital Pty Ltd

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Thorney Technologies Ltd (ASX:TEK) has notified the ASX of a new on-market buy-back of its ordinary fully paid shares, with the program proposed to commence on 23 November 2026 and run through to 22 November 2027, according to an Appendix 3C filing dated 6 November 2026.

Key Points

Thorney Technologies has announced a new on-market buy-back of up to 35,024,238 ordinary fully paid shares.
The maximum buy-back quantity represents 10% of the lowest number of shares on issue in the last 12 months, based on 350,242,387 total securities on issue.
UBS Securities Australia Limited has been named as the broker to conduct the buy-back on the company's behalf.
The buy-back is proposed to run from 23 November 2026 to 22 November 2027, with no shareholder approval required.
TEK bought back 27,590,632 shares under its previous buy-back program, which ran from 12 January 2026 to 30 October 2026.

Buy-Back Structure and Maximum Securities

According to the filing, the on-market buy-back covers the class of securities described as TEK ordinary fully paid shares. The total number of securities on issue in that class is disclosed as 350,242,387. The maximum number of securities proposed to be bought back is 35,024,238, which the filing states corresponds to 10% of the lowest number of shares on issue in the last 12 months. The consideration for securities bought back will be paid in Australian dollars. No minimum number of securities has been specified for the buy-back.

Previous Buy-Back and Corporations Act Considerations

The filing discloses that Thorney Technologies bought back 27,590,632 shares under a previous buy-back program, which operated from 12 January 2026 to 30 October 2026. The company noted that under section 257B of the Corporations Act, shares purchased under the previous program count towards the 10/12 limit for 12 months after each purchase. As a result, the filing states that the number of shares that can be bought back at any time will be less than the stated maximum of 35,024,238.

Program Conditions and Broker Appointment

UBS Securities Australia Limited has been appointed as the broker to offer to buy back securities on Thorney Technologies' behalf. The filing confirms that shareholder approval is not required for the buy-back. The company disclosed that it may vary, suspend or end the buy-back at any time. The proposed start date for the new program is 23 November 2026, with a proposed end date of 22 November 2027. The buy-back does not impose a minimum number of securities to be repurchased.

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