LONDON - Geiger Counter Limited has repurchased 25,000 of its ordinary shares on Thursday, the company disclosed today. The shares were bought back at an average price of 52.14 pence each and will be held in Treasury.
This latest transaction is part of an ongoing buyback program that has seen the firm repurchase a total of 12,209,543 ordinary shares since the Annual General Meeting on March 9, 2023. After this recent buyback, Geiger Counter Limited has 140,459,804 Ordinary Shares with voting rights in issue, in addition to the 12,214,445 Ordinary Shares now held in Treasury.
Share buybacks are a common strategy used by companies to return value to shareholders, as they can potentially increase earnings per share and return excess cash to investors. The action typically reflects the management's belief that the shares are undervalued and represent a good investment for the company.
The move by Geiger Counter Limited aligns with such strategic financial decisions, aiming to manage the company's capital effectively. The information regarding this buyback has been provided by RNS, the news service of the London Stock Exchange (LON:LSEG), and is based on a press release statement.
The company's shares are traded on the London Stock Exchange, and further details about Geiger Counter Limited can be found on the company's website. The share buyback announcement did not mention any specific impact on the company's share price or market performance following the news.
Investors often pay close attention to share buyback announcements as they can signal the company's confidence in its financial health and future prospects. However, it's important to note that while buybacks can be positive for shareholders, they do not always lead to an increase in share value.
This report is solely based on the facts from the company's press release and does not include any additional analysis or commentary.
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