"The extension of the buyback provides Hills with the option to acquire shares up to ten per cent (10 per cent) of the issued capital during the next 12 months. Any buyback will not affect the dividend policy."
According to a company statement, the strategy of the Company remains based on creating value by being focused on delivering technology based solutions into trusted government, enterprise, business and residential markets.
Pretty said the company remained very well positioned for the year ahead.
"We have entered FY15 with a very strong balance sheet, reduced structural and operating complexity and a lower operating risk profile. We have ample capacity for further acquisitions that are accretive to our core and or offer medium to long term growth opportunities.
Hills current guidance is for an underlying FY15 NPAT $22-24M.
This reflects expectations of underlying growth in it technologies business. It also intends to seek larger acquisitions in the security and healthcare technology sectors.
"We remain committed to delivering sustainable earnings growth and optimising shareholder value as the implementation of the new Hills strategy continues," he said.
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