---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-048601"
form_type: "8-K"
ticker: "IBEX"
cik: "0001720420"
company_name: "IBEX Ltd"
filed_at: "2024-11-20T23:59:59+00:00"
generated_at: "2026-05-29T22:02:02.654868+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IBEX repurchases 3.56M shares from controlling shareholder TRGI for $70M, exits controlled company status

## Summary
- Repurchased 3,562,341 shares at $19.65 each from TRGI, representing ~20% of diluted shares outstanding.
- Total consideration $70M: $45M cash plus $25M convertible promissory note bearing 7% annual interest.
- Following repurchase, TRGI retains 1.8M shares; IBEX will no longer be a Nasdaq-controlled company.
- Board to have majority independent directors; one TRGI director to resign by year-end, others serve until 2025 AGM.
- Company holds 4-year call option to buy remaining TRGI shares upon change of control; existing share buyback program paused.

## SEC filing metadata
- accession: 0001628280-24-048601
- form_type: 8-K
- ticker: IBEX
- cik: 0001720420
- company_name: IBEX Ltd
- filed_at: 2024-11-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720420/000162828024048601/0001628280-24-048601-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720420/000162828024048601/ibex-20241119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-048601
- JSON: https://secwatch.observer/filing/0001628280-24-048601.json
- Plain text: https://secwatch.observer/filing/0001628280-24-048601.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.