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Metlifecare to repurchase up to NZ$30M shares

Metlifecare Ltd. plans to buy back up to NZ$30 million of the company's shares.

The company's on-market share buyback program will be financed using proceeds from the proposed sale of its Albany, New Zealand, site. Metlifecare expects to receive the sale proceeds in 2020.

Auckland-based Metlifecare, which owns and operates retirement villages in New Zealand, plans to provide more details on the share buyback program in November.