Ibex's chief people officer sells shares worth $246,519

Inson Paul Joseph, the Chief People Officer of IBEX Ltd (NASDAQ:IBEX), recently sold a significant portion of his holdings in the company. The stock has shown remarkable strength, gaining over 80% in the past year and currently trading near its 52-week high of $27.34. According to InvestingPro analysis, the company appears undervalued despite its strong performance. According to a Form 4 filing with the Securities and Exchange Commission, Joseph sold 8,954 common shares on February 14, 2025. The shares were sold at an average price of $27.5318, resulting in a total transaction value of $246,519.

Following this sale, Joseph holds 21,042 shares of IBEX Ltd. The transaction was executed in multiple trades at prices ranging from $27.50 to $27.715.

In other recent news, IBEX Ltd has completed a significant $70 million share repurchase, buying back 3,562,341 of its common shares from The Resource Group International Limited (TRGI). The payment was structured with $45 million in cash and the remainder through a convertible promissory note. The company settled the outstanding Seller Note using proceeds from its credit lines with HSBC Bank USA and HSBC Bank Middle East Limited.

In other developments, IBEX Ltd held its annual general meeting where shareholders approved several proposals, including setting the maximum number of directors at eight, electing directors, and appointing Deloitte & Touche LLP as the company's independent registered accounting firm for the upcoming fiscal year. Fiona Beck, Shuja Keen, and Mohammed Khaishgi were re-elected as directors, with each holding office until the next annual general meeting or until their resignation or removal.

These are recent developments that reflect the company's confidence in its financial stability and future prospects. The share repurchase and board restructuring are part of IBEX's broader capital management strategy, which aligns with Nasdaq's corporate governance standards and is expected to potentially widen IBEX's shareholder base.

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