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WASHINGTON—Khaishgi Mohammedulla, a director at IBEX Ltd (NASDAQ:IBEX), recently sold a total of 28,181 common shares in a series of transactions. The sales, which took place on February 19 and 20, 2025, were executed at prices ranging from $26.051 to $26.4971 per share, amounting to a total value of approximately $740,188. The sale comes as IBEX shares have surged nearly 85% over the past year, with particularly strong momentum showing a 61% gain in the last six months.
Following these transactions, Mohammedulla retains ownership of 89,912 shares, held directly, and 7,312 shares indirectly as trustee of the Allibhoy Khaishgi Family Foundation. The transactions were part of a pre-arranged 10b5-1 trading plan. According to InvestingPro analysis, IBEX currently trades at an attractive P/E ratio of 11.8x and shows strong financial health metrics. The platform identifies 14 additional bullish indicators for IBEX, including management’s aggressive share buyback program and strong cash flow coverage of debt obligations.
In other recent news, IBEX Ltd announced the completion of a $70 million share repurchase, as disclosed in an 8-K filing with the Securities and Exchange Commission. The company repurchased 3,562,341 common shares from The Resource Group International Limited, paying $45 million in cash and settling the remaining $25 million through a convertible promissory note. This transaction was finalized using proceeds from credit lines with HSBC Bank USA and HSBC Bank Middle East Limited, effectively terminating the Seller Note. Additionally, IBEX Ltd held its annual general meeting, where shareholders set the board size at a maximum of eight directors and re-elected Fiona Beck, Shuja Keen, and Mohammed Khaishgi to the board. The meeting also confirmed Deloitte & Touche LLP as the independent registered accounting firm for the fiscal year ending June 30, 2025. These developments indicate IBEX Ltd’s strategic financial maneuvers and corporate governance activities.
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