LONDON - Geiger Counter Limited has reported the repurchase of 374,405 of its ordinary shares on December 17, 2024, at an average price of 47.98 pence per share. These shares are slated to be held in Treasury. This transaction is a continuation of the company's buyback program, which has been active since the Annual General Meeting on March 9, 2023. To date, the program has resulted in the repurchase of 13,156,948 ordinary shares.
Following this latest transaction, Geiger Counter Limited has 139,512,399 ordinary shares with voting rights in circulation, in addition to the 13,161,850 shares now held in Treasury. These figures are critical for investors tracking the company's share structure and potential market impact.
Share buybacks are a common strategy companies use to return value to shareholders, often seen as a sign of the company's confidence in its own financial health and future prospects. By reducing the number of shares available on the market, buybacks can increase the value of remaining shares if the company's market valuation remains constant or improves.
The company's actions align with the permissions granted by shareholders and are executed under the guidelines of the London Stock Exchange (LON:LSEG). The information regarding this buyback has been officially announced through RNS, the news service of the London Stock Exchange, which is authorized by the Financial Conduct Authority in the UK.
Investors and market watchers often view share buyback activities as a signal of a company’s performance and management's outlook. While the repurchase of shares can affect the company's share price and earnings per share, it is essential for investors to consider the broader market conditions and the company's overall financial performance when interpreting such events.
This news is based on a press release statement and does not include any additional commentary or speculation about the company's motives or future actions.
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