Ibex Ltd chief people officer sells $379,362 in stock

Inson Paul Joseph, the Chief People Officer at IBEX Ltd (NASDAQ:IBEX), recently executed a series of stock transactions involving the company's common shares. According to a Form 4 filing with the Securities and Exchange Commission, Joseph sold a total of 15,072 shares on February 11, 2025. The shares were sold at a price of $25.17 each, amounting to a total sale value of $379,362. The transaction comes as IBEX shares trade near their 52-week high of $27.34, having delivered an impressive 82.57% return over the past year. InvestingPro analysis indicates the stock is currently trading above its Fair Value.

In addition to the stock sale, Joseph also exercised stock options to acquire 15,072 shares. These transactions were executed at prices ranging from $12.75 to $19.00, with a total value of $236,368. Following these transactions, Joseph's direct ownership in IBEX Ltd stands at 29,996 shares. With a current market capitalization of $359.48 million and trading at a P/E ratio of 12.12, IBEX has shown strong momentum with a 23.31% gain in the past week alone. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the full IBEX research report on InvestingPro, which covers over 1,400 US stocks with detailed metrics and expert analysis.

In other recent news, IBEX Ltd has announced the completion of a $70 million share repurchase. The company bought back 3,562,341 of its common shares from The Resource Group International Limited (TRGI), with the payment structured as $45 million in cash and a convertible promissory note valued at $25 million. This move is seen as a part of the company's strategy to optimize its capital structure and deliver value to shareholders.

In addition, IBEX Ltd has shared updates from its annual general meeting. The company set the size of its board of directors to eight and re-elected its directors, with Fiona Beck, Shuja Keen, and Mohammed Khaishgi securing the most votes. Shareholders also ratified the appointment of Deloitte & Touche LLP as the company's independent registered accounting firm for the fiscal year ending June 30, 2025.

Lastly, the share repurchase has led to a shift in IBEX's board structure, ending its status as a "controlled company" under Nasdaq rules. The company now has a majority of independent directors, and one of the two current IBEX directors associated with TRGI is set to resign by year-end. These are the recent developments surrounding IBEX Ltd.

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