LONDON - Geiger Counter Limited, the investment company, has announced the purchase of 450,000 of its own ordinary shares on January 15, 2025. The shares were bought back at an average price of 49.34 pence per share and will be held in Treasury.
This latest transaction is part of an ongoing share repurchase program that has been active since the company's Annual General Meeting on March 9, 2023. To date, Geiger Counter Limited has repurchased a total of 13,745,948 Ordinary Shares under this program.
Following the buyback, the total number of voting rights in the company stands at 138,923,399 Ordinary Shares, with an additional 13,750,850 Ordinary Shares held in Treasury. This move is part of the company's capital management strategy.
The share buyback reflects the company's commitment to managing its share capital effectively. Holding shares in Treasury allows the company flexibility for future transactions, which may include the distribution of shares to employees as part of compensation packages, the sale of shares to raise capital, or further buyback activities.
The company's management and board of directors believe that the repurchase of shares can be beneficial to shareholders, potentially stabilizing the share price and providing support during market volatility. It may also signal management's confidence in the intrinsic value of the company.
Geiger Counter Limited's repurchase program is conducted in accordance with guidelines and regulations set by the Financial Conduct Authority and the London Stock Exchange (LON:LSEG), ensuring transparency and fairness in the process.
Investors and interested parties can find more information about Geiger Counter Limited on the company's website. The company's actions, including share buybacks, are subject to terms and conditions that may affect the distribution and use of the information provided.
This report is based on a press release statement from Geiger Counter Limited and provides an update on the company's recent share buyback activity.
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